Jim Salazar Is the Majority Shareholder of XYZ Co

question 10

Multiple Choice

Jim Salazar is the majority shareholder of XYZ Co.XYZ Co.filed for Chapter 11 Bankruptcy on January 1,2008.Which of the following would be considered a fraudulent transfer?

• A)Transfer of land to Jim's sister Alice on July 1,2006,with the intent to place the land beyond the reach of creditors.
• B)Sale of inventory at regular price to a new customer on February 15,2008.
• C)Transfer of fixed assets to Jim's brother John on December 15,2007,with the intent to place the fixed assets beyond the reach of creditors.
• D)Transfer of inventory to a subsidiary for less than fair value on August 1,2006.
• E)Two of the above

---

Definitions:

Frictionally Unemployed

Individuals temporarily out of work while transitioning between jobs, typically a healthy phenomenon in a dynamic economy.

Electrical Engineer

A professional who designs, develops, tests, and supervises the manufacturing of electrical equipment and systems.

Sectoral Shifts

Sectoral shifts refer to changes in the labor demand across various industries or sectors of the economy, often due to technological advances, consumer preferences, or other factors.

Frictional Unemployment

A form of temporary unemployment that occurs when workers are between jobs or are searching for new jobs that better match their skills.