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Question: Lee Camden, president of Camden Equipment Co., prepared a draft of the Management Discussion and Analysis to be included with Camden Equipment Co.'s 2007 annual report. The letter mentions a 10% increase in sales and a recent expansion of plant facilities, but fails to mention the net loss of $180,000 for the year. You have been asked to review the draft for the annual report. How would you respond to the omission of the net loss of $180,000? Specifically, is such an action ethical?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92336506

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