Answer Posted / khushboo bansal

The question can be answered based on the liability of the
company.if the company has limited liability thn the owner
is not liable or responsible and therefore he is solvent.

but,in case the companies liability is unlimited the owner
will b liable to pay back all the liabilities n will end up
being insolvent.

the company can neither be in a profitable position as
their liabilities are more than the assets nor will it be
in a liquidity position as they are running short of cash.

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