Which of the following two statements is correct?
I.Illiquidity is the inability of a firm to raise funds on reasonable terms.
II.Insolvency is the inability of a firm to meet its financial obligations as they are due
A) Both I and II are correct
B) Both I and II and incorrect
C) Statement I is incorrect and statement II is correct
D) Statement I is correct and statement II is incorrect
Correct Answer:
Verified
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