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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