Accountancy, asked by savitrisainsaroj, 5 days ago

Q.4 What do you mean by Insolvent.​

Answers

Answered by gauthmathjeetendra
0

Explanation:

Insolvency is a type of financial distress, meaning the financial state in which a person or entity is no longer able to pay the bills or other obligations. The IRS states that a person is insolvent when the total liabilities exceed total assets.

answer provided by Gauthmath

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