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Mills Corporation has a practice of discounting its notes receivable to the bank to increase its cash flow. If the maker of the notes receivable

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Mills Corporation has a practice of discounting its notes receivable to the bank to increase its cash flow. If the maker of the notes receivable has always paid the bank, is it ethical for the Mills Corporation to not list the notes receivable as a contingent liability? What, if anything, would be compromised if the liability did not appear in the notes of the annual report

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