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    Question

    What does bankruptcy

    mean?
    A Declaration by Court Correct Answer Incorrect Answer
    B Legal declaration of inability Correct Answer Incorrect Answer
    C Legal declaration of insolvency Correct Answer Incorrect Answer
    D Conclusion of insolvency Correct Answer Incorrect Answer
    E Both c & d Correct Answer Incorrect Answer

    Solution

    Legal declaration of insolvency of the individuals as well as the corporates who cannot repay their debts to creditors are declared insolvent.

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