P1 C1 Accounting and Its Terminology — Account STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C1 Accounting and Its Terminology1 Mark
Question
Briefly explain : Insolvent person
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Answer
When assets of person is less than its liabilities, and a person is not in a position to clear his regular obligation, in such situation court declared a person as insolvent person.
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