In Which of the Following Situations Would a Debtor Be

question 55

Multiple Choice

In which of the following situations would a debtor be considered "insolvent," as that term is applied in the Bankruptcy and Insolvency Act.

• A) The debtor has debts of more than $250 000.
• B) The debtor's assets have a fair market value lower than its liabilities,and it owes more than $1000.
• C) The debtor has committed a bankruptcy offence.
• D) The debtor has no option other than to liquidate its assets in order to pay all of its debts.

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Lacking clarity or preciseness in thought, expression, or meaning.

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A unit of length in the metric system equal to one thousandth of a meter.

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The muscle and fat tissues of animals, typically used as food by humans or other animals.