Basic Details
Word: Insolvent
Part of Speech: Adjective
Meaning: Not able to pay debts; unable to meet financial obligations.
Synonyms: Bankrupt, broke, unable to pay
Antonyms: Solvent, financially secure
Idioms and Phrases
- In deep water: To be in a difficult or serious financial situation. Example: "After losing his job, he found himself in deep water and struggling to pay his bills."
- On the breadline: Living with only just enough money to survive, often referring to financial hardship. Example: "Since the company cut costs, many employees are now on the breadline."
Usage Examples
Example 1: The company's poor sales led it to become insolvent, forcing it to close down.
Example 2: After years of financial mismanagement, the individual was declared insolvent.
Example 3: The charity struggled to support its initiatives once it became insolvent.
Fun Fact
The term "insolvency" comes from the Latin word "insolvens," which means "not able to pay" or "not able to loosen." Insolvency has been a legal term for centuries, often leading to bankruptcy laws that protect individuals and businesses.
Famous Quote
"Its not whether you get knocked down, its whether you get up." Vince Lombardi. This quote reflects the importance of resilience, especially in the face of financial troubles like insolvency.
Multiple Choice Questions (MCQs)
1. What does "insolvent" mean?
a) Able to pay debts
b) Not able to pay debts
c) Very rich
d) Financially secure
Answer: b) Not able to pay debts
2. Which of these is a synonym of "insolvent"?
a) Wealthy
b) Broke
c) Affluent
d) Comfortable
Answer: b) Broke
3. Which is an antonym of "insolvent"?
a) Bankrupt
b) Solvent
c) In debt
d) Financially challenged
Answer: b) Solvent
4. Which sentence uses "insolvent" correctly?
a) She felt insolvent after winning the lottery.
b) The business became insolvent and could not pay its employees.
c) The insolvent cat jumped over the fence.
d) They were insolvent because they saved too much money.
Answer: b) The business became insolvent and could not pay its employees.
5. Which idiom means being in a difficult financial situation?
a) On the breadline
b) In high spirits
c) A stitch in time
d) As clear as mud
Answer: a) On the breadline
