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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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