Chester Hunter, president of jackrabbit Enterprise, applied for a $250,000 loan from Belgrade National Bank. The bank requested financial statement from jackrabbit Enterprises as a basis for granting the loan. Chester has told his accountant to provider the bank with a balance sheet. Chester has decided to omit the other financial statement because there was a net loss during the past year.
In groups of three or four, discuss the following questions:

1. Is Chester behaving in a professional manner by omitting some of the financial statement?



2. A. What type of information about their business would owners be willing to provide bankers? What type of information would owners not be willing to provide?





B. What type information about a business would bankers want before extending a loan?





C. What common interests are shared by bankers and business owners?

Chester Hunter, president of jackrabbit Enterprise, applied for a $250,000 loan from Belgrade National Bank. The bank requested financial statement from jackrabbit Enterprises as a basis for granting the loan. Chester has told his accountant to provider the bank with a balance sheet. Chester has decided to omit the other financial statement because there was a net loss during the past year.
In groups of three or four, discuss the following questions:

1. Is Chester behaving in a professional manner by omitting some of the financial statement?

Apparently you will have to do your homework on your own.

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