A billion here, a billion there

JP Morgan posts a loss of $2 billion? Where is a "net loss" recorded? On the company's income statement or statement of earnings. Note that internally these are often called Profit & Loss statements, and $2 billion is a pretty big loss, even for a behemoth bank like this bad boy. How does it affect the value of the company's stock? Immediately, and not in a good way. To stretch a bit and build some links between the test world and real world, check out http://money.cnn.com/2012/05/11/markets/jpmorgan-faq/

Get HELP with your SERIES 7 EXAM HERE.