Description : A person whose assets are less than business liabilities is known as insolvent.
Last Answer : State whether the following statement are true or false with reason : A person whose assets are less than business liabilities is known as insolvent.
Description : A person whose assets are equal to or greater than liabilities is known as insolvent.
Last Answer : State whether the following statement are true or false with reason : A person whose assets ... or greater than liabilities is known as insolvent.
Description : A Derson who is unable to nay his debts, is called ____________ (a) insolvent (b) solvent (c) well to do (d) poor
Last Answer : A Derson who is unable to nay his debts, is called ____________ (a) insolvent (b) solvent (c) well to do (d) poor
Description : The disqualification of the member is a) Has been convicted and sentenced to imprisonment for an offence which , in the opinion of the state govt involves moral turpitude b) Is an undercharged insolvent c) Is of unsound mind d) All the above
Last Answer : d) All the above
Description : A person who is in a position to pay his debts is called a / an 1. insolvent 2. solvent 3. bankrupt 4. broke 5. None of these
Last Answer : solvent
Description : If the company is insolvent , interest on debentures is payable upto the date of actual payment.
Last Answer : FALSE
Description : Only an insolvent company can be liquidated.
Description : he unpaid seller has right of stoppage of goods in transit only where the buyer A. Become insolvent B. Refuses to pay price C. Acts fraudulently D. All of these
Last Answer : A. Become insolvent
Description : As per section 2(8), of the Sales of Goods Act, insolvent means a person A. Who has ceased to pay his debts in the ordinary course of business B. Or cannot pay his debts as they become due C. Both (a) and (b) D. None of above
Last Answer : C. Both (a) and (b)
Description : The unpaid seller can exercise his right of stoppage of goods in transit where the buyer a)refuse to pay price b)acts fraudulently c)become insolvent d)all of these
Last Answer : d)all of these
Description : Someone legally appointed to resolve the financial difficulties of an insolvent firm is called____________. A. an administrator. B. a predator. C. an auditor. D. a turnaround consultant.
Last Answer : A. an administrator.