answersLogoWhite

0


Best Answer

Insolvency is a term used to describe the inability for a business to pay its debts. When a business racks up more liabilities than assets (ie more debt than money) they are in insolvency. This usually results in bankruptcy.

User Avatar

Wiki User

โˆ™ 12y ago
This answer is:
User Avatar
More answers
User Avatar

Wiki User

โˆ™ 15y ago

Unable to pay debts; bankrupt.

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is meant by the term insolvency?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is meant by the term voluntary insolvency?

Voluntary insolvency, also known as voluntary liquidation, is a type o liquidation or bankruptcy that is supported by the members of the Board of the company and is not forced by Chapter 7 bankruptcy.


How do you become an insolvency practitioner?

qualify to become an insolvency practitioner


What does company insolvency mean?

The company is a registered artificial person under the companies law. A company mainly consists of Capital, assets, and liabilities. When a company has more liability than its assets required to pay the standing liability then in that sort of situation company either has to declare itself bankrupt or hire professional insolvency experts to legally close down the company under the guidance of professional insolvency expert.


What is meant by the term cathetarisation?

what is meant by the term catheterisation


What is meant by the term resistance?

What is meant by the term resistivity?


What is meant by the term dementia?

Explain what is meant by the term 'dementia.'


What is meant by identation?

what is meant by the term identity politics


What is meant by the term organization culture?

What is meant by the term organisation culture


Definition of Certified Insolvency and Reorganization Accountant CIRA?

This item is incorrectly defined - CIRA, a designation of the Association of Restructuring and Insolvency Advisors, really means Certified Insolvency and Restructuring Advisor


What the average rates for insolvency practitioners?

The average rates for insolvency practitioners are set by the Insolvency Practitioners Association. Their fees range from 210-275 per year depending on membership status.


What exactly is an insolvency service?

The Insolvency Service is an Executive Agency within the Department of Trade and Industry. Or DTI. The Insolvency Service administers and investigates the affairs of bankrupts and companies in compulsory liquidation.


What is meant by compaction?

What is meant by the term 'compaction'