Which of the Following Would Be Considered an Extraordinary Item

question 42

Multiple Choice

Which of the following would be considered an extraordinary item on an income statement of a bank?

• A) Revenue from the sale of the bank's office building.
• B) Interest income when the spread is greater than 10%.
• C) Realized security gains.
• D) Collection on loans already charged off.
• E) All of the above would be considered extraordinary items.

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Definitions:

Worcester V. Georgia

A U.S. Supreme Court case in 1832 that held that Native American nations were distinct communities with the right to maintain lands independent of state laws.

Cherokee Nation

A large Native American tribe historically based in the southeastern United States, known for their adaptation to European American culture and the tragic Trail of Tears relocation.

Seminoles

A Native American people originally of Florida, known for their resistance against the United States in the early 19th century, resulting in the Seminole Wars.

Second Seminole War

A conflict from 1835 to 1842 in Florida between the United States and the Seminole Native Americans, marking the longest and most costly of the Indian Wars in U.S. history.