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insolvent

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

The inability to pay liabilities as they become due. Some consider a company to be insolvent when its current liabilities exceed its current assets.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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