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Question

A person who is unable to pay his debts is called ___________.

ABorrower

BInsolvent

CLender

DAllen

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Answer and explanation

Correct Answer: B: Insolvent

Explanation: The correct answer is insolvent. A person who is unable to pay his debts is called insolvent or bankrupt. Insolvency occurs when liabilities exceed assets and the individual cannot meet payment obligations.

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A person who is unable to pay his debts is called ___________. Answer: Insolvent | MCQist