As of December 31, 2010, the assets listed on the balance sheet of Bank A were $1.5 million in cash reserves and $6 million in outstanding loans to its customers. Its liabilities totaled $6.5 million in checking deposits. What was the bank’s net worth on that date?

A. $1 million
B. $4.5 million
C. $5 million
D. $14 million
E. Zero


Answer: A

Economics

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