Assessing the solvency of economic agents and default risk of bankruptcy depends on many factors. It is wrong to say that an enterprise with economic or financial difficulties is bankrupt. Bankruptcy is the last step in a possible long process of degradation in economic and financial situation of the company, having, in essence, a legal component. The main criteria underlying the determination of insolvency and bankruptcy are no implicit solvency and indebtedness, which will be analyzed through a concrete example based on an agricultural enterprise.