Insolvency occurs when a debtor:A) is unable to pay his/her debts as they become due.B) has a larger number of unsecured creditors than secured creditors.C) is unemployed for two consecutive years.D) is declared bankrupt by a certified accountant.

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Mabel Currie · Accepted Answer

Final Answer : A, Explanation :  Debtors are considered insolvent if they are unable or fail to pay their debts as they become due.

Insolvency occurs when a debtor:

A) is unable to pay his/her debts as they become due.
B) has a larger number of unsecured creditors than secured creditors.
C) is unemployed for two consecutive years.
D) is declared bankrupt by a certified accountant.

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