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Jim Salazar is the majority shareholder of JKL Co. JKL Co. filed for Chapter 11 bankruptcy on January 1, 2018. Which of the following may
- Jim Salazar is the majority shareholder of JKL Co. JKL Co. filed for Chapter 11 bankruptcy on January 1, 2018. Which of the following may be considered a fraudulent transfer?
- Transfer of fixed assets to Jims brother John on December 15, 2017
- Transfer of land to Jims sister Alice on July 1, 2016
- Sale of inventory at regular price to a new customer on February 15, 2018
- Transfer of inventory to a subsidiary for less than fair value on August 1, 2016
- Both a and c are correct
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Accounting Chapters 14-23
Authors: Charles T. Horngren, Walter T. Harrison Jr, M. Suzanne Oliver
8th Edition
0136073018, 978-0136073017
