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Star Appliance Corp. has requested that Malfie Thomas, CPA provide a report, including a debt compliance letter, to Great Northern Bank about the existence or nonexistence of certain loan conditions. The conditions to be reported on are the working capital ratio, dividends paid on preferred stock, aging of accounts receivable, and the competence of management. This is Malfie's first experience with Star appliance. Should Malfie accept this engagement? Provide justification for your answer.
Ratify
To formally approve or confirm an agreement or act, making it officially valid.
Breach
The failure to perform obligations as stipulated in a contract, leading to potential legal consequences.
Liability
The state of being legally responsible for something, especially in terms of debts or legal obligations.
Nuisance
An act, condition, or thing unreasonably interfering with the use or enjoyment of land or property of another.
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