I have a question about recommendation letters. My dilemma lies in the following. The schools I plan to apply to all ask for two letters of recommendation (I am applying to MS accounting programs). They do not seem to care whether these letters come from a former supervisor or a professor. What matters more is the evaluator's view of my ability for an intensive graduate study.

I have secured one recommendation letter from a former professor of mine. She genuinely likes me and really knows my work - qualitative and quantitative. I have also contacted the president of a company I interned for after graduating from college. I took part in launching a new service for his company, and believe this would be a great accomplishment he could highlight. However, it has been a week and he did not get back to me. I have stayed in touch with him and he has told me to continue to do so. Therefore, I don't think that he is trying to avoide me; perhaps he is busy or out of town. HOWEVER, I panicked and contacted another professor of mine - stayed in touch with him since graduating, another fan of mine who knows my work - and he told me that he would gladly provide me with letters of recommendation.

Here is my question. If my supervisor gets back to me and says he will write letters, I will have three LORs. Is that a problem? Would schools, for some reason, frown on my application if I have three instead of the two letters required. I don't want to tell any of the recommenders that I no longer need their help, that is just insulting!