Which one of the following illustrates an insolvent situation?
A) Assets $56,000; annual expenses $60,000
B) Assets $78,000; net worth $22,000
C) Liabilities $45,000; net worth $6,000
D) Assets $40,000; liabilities $45,000
E) Annual cash inflows $45,000; liabilities $50,000
Correct Answer:
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