If your liabilities are greater than the value of your assets you are consideredQuestion 6Select one:A.unstableB.bankruptC.insolventD.unbalanced
Question
If your liabilities are greater than the value of your assets you are consideredQuestion 6Select one:A.unstableB.bankruptC.insolventD.unbalanced
Solution
If your liabilities are greater than the value of your assets, you are considered C. insolvent.
Insolvency is a financial state of being – one that is brought on by overdue debt – where a person or business is unable to meet financial obligations to creditors as debts come due.
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