SECTION B. Part A: Essay question (25 marks) half to three quarters of a page for each answer Kenny is an accountant who works for Emerald Pty Lid, and is also the Head of Finance for the company. He assists the directors on the day to day operations of the business and takes care of the company's accounts. Emerald Pty Lid has internal rules contained in the company constitution One of the rules provides that no officer of the company can arrange for loans over $10,000 unless it is approved by the board of directors. Kenny later on applies for a $20,000 overdraft to one of the company's accounts with ANZ Bank. This overdraft is granted by the bank As this account was an operational account, the overdraft does indeed end up being used by the company for its expenses. When the directors subsequently discover the account is overdrawn for almost $20,000, they suspend Kenny, and tell the bank that due Kenny exceeding his authority the company is not Kenny personally. responsible for inappropriate lending by the bank, and that the bank needs to seek collect from QA1 Is the company liable to ANZ Bank for the overdraft?? (10 marks) [Answer here]