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sabih77

Answer:

Bankruptcy is a legal proceeding involving a person or business that is unable to repay their outstanding debts. All of the debtor's assets are measured and evaluated, and the assets may be used to repay a portion of outstanding debt.

Explanation:
Bankruptcy is a legal proceeding involving a person or a business that is unable to pay their debts. Someone who has spent too much money on something and has no money left to pay their bills may go into bankruptcy.

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