Question

what do you mean by insolvent.Explain?​

Answer 1

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Definition of insolvent. 1a : unable to pay debts as they fall due in the usual course of business. b : having liabilities in excess of a reasonable market value of assets held. 2 : insufficient to pay all debts an insolvent estate.

Answer 2

Answer:

Insolvency is a state of financial distress in which a business or person is unable to pay their bills. It can lead to insolvency proceedings, in which legal action will be taken against the insolvent person or entity, and assets may be liquidated to pay off outstanding debts.