A firm is technically insolvent when:

[A] the value of its stock declines by more than 50 percent in any given 12-month period.

[B] the value of the firm's assets is less than the value of the firm's liabilities.

[C] it is unable to meet its financial obligations.

The return earned in an average year over a multi-year period is called the _____ average return.

[A] arithmetic

[B] standard

[C] geometric