Lee Camden, president of Camden Equipment Co., prepared a draft of the Management Discussion and Analysis to

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?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting An Integrated Statements Approach

ISBN: 978-0324312119

2nd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

Question Posted: