Math Definitions - Letter B
Chapters
Definition of Bankrupt
Definition of Bankrupt
People can be legally declared bankrupt when they do not have enough money or assets to pay their debts.
It is not a good thing to be declared bankrupt. Bankruptcy should only be considered as a last resort. Although all of their debts are cleared, a bankrupt person loses everything except for some of their very basic possessions. They end up with a bad credit rating and will not be able to borrow money again for a number of years.
In Australia, companies that can't pay their debts go into liquidation. They cannot be declared bankrupt. The company stops trading and all of its assets are sold in an attempt to pay the debts.
Description
The aim of this dictionary is to provide definitions to common mathematical terms. Students learn a new math skill every week at school, sometimes just before they start a new skill, if they want to look at what a specific term means, this is where this dictionary will become handy and a go-to guide for a student.
Prerequisites
None
Audience
Year 1 to Year 12 students
Learning Objectives
Learn common math terms starting with letter B
Author: Subject Coach
Added on: 4th Dec 2017
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