Management Glossary

  Search Results: bankrupt

An individuals or companies are bankrupt when their liabilities exceed its assets (or the are unable to pay their debts for other reasons)  and a creditor goes to court to demand payment of a debt.

Contributed by: Managerwise Staff
See: asset, liability

Click on a letter to find terms starting with that letter:

You can also click here to see a list of all of the words in the glossary with links to the definitions.

Or, search the glossary:

Match: any word     all words

Help the Glossary Grow!

Click here
to add a definition. We credit contributors of accepted definitions with, at your option, an e-mail and/or Web link.