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The workers stood in front of the factory and wondered what to do next. The doors were locked and the windows were boarded up. They doubted that they would even collect their final pay checks now that the company was insolvent. What is the meaning of "insolvent" here?
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- broke, or out of money
- hiring new workers
- changing a name
- making too much money
Correct Option: A
Insolvent means unable to pay debts owed
Synonyms : bankrupt, unable to pay one's debts, ruined, collapsed, defaulting, liquidated, wiped out
If a company is worth $100 and has $110 of debt, then that company is insolvent
Both candidates granted that Medicare will be insolvent in four to twelve years
