New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

      __________ is a state in which a company’s

    liabilities are more than its assets so that is unable to repay its debts
    A Bankruptcy Correct Answer Incorrect Answer
    B Insolvency Correct Answer Incorrect Answer
    C Liquidation Correct Answer Incorrect Answer
    D Either of the above Correct Answer Incorrect Answer

    Solution

    Explanation: Insolvency is a state in which a company’s liabilities are more than its assets so it is unable to repay its debts. Bankruptcy is when a person is legally declared by a competent court as incapable of paying its debts/dues

    Practice Next