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QUESTION 37 You borrow $1,500 from your brother to pay for your car repair in December. You then receive your tax refund in February and

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QUESTION 37 You borrow $1,500 from your brother to pay for your car repair in December. You then receive your tax refund in February and your brother learns about it and asks you to repay him the $1,500 you borrowed. You pay your brother back the full amount in February, in April you realize you cannot pay your debts in a timely manner so you file bankruptcy. Which of the following is the best answer? The bankrtupcy trustee cannot recover the $1,500 you paid your brother since you filed bankrutpcy after you paid him The bankruptcy trustee cannot recover the $1,500 you paid your brother since it was greater than 90 days between December and April The bankruptcy trustee can recover the $1,500 you paid your brother since he was a related party The bankruptcy trustee can recover the $1.500 you paid your brother as a preferential payment O None of the above QUESTION 38 You are the President of ABC Corporation. You gave your approval to allow the purchasing department to approve without your permission any purchases up to $1,000 for items to be used for the operations of the company. You found out that the purchasing department abused its authority and purchased $1,000 worth of alcohol without your permission You were appointed by the board of directors as an officer and you were acting within the scope of your employment by allowing the purchasing department to purchase items up to $1,000 without your consent You were appointed by the shareholders as an officer and you were acting within the scope of your employment by allowing the purchasing department to purchase items up to $1,000 without your consent You were appointed by the board of directors as an officer and you were not acting within the scope of your employment by allowing the purchasing department to purchase items up to $1.000 without your consent You were appoint by the shareholders as an officer and you were not acting within the scope of your employment by allowing the purchasing department to purchase items up to $1,000 without your consent None of the above

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