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When preparing financial statements that accompany a loan application, it is ethically permissible for the financial manager of a business to overstate the value of assets owned by the business, but it is not considered to be acceptable to omit amounts owed to creditors.

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When preparing financial statements that accompany a loan application, it is ethically permissible for the financial manager of a business to overstate the value of assets owned by the business, but it is not considered to be acceptable to omit amounts owed to creditors.






 
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