Bob Promises to Sell to Candy an Automobile for $20,000

question 74

True/False

Bob promises to sell to Candy an automobile for $20,000, for which Candy promises $20,000. A unilateral contract exists.

---

Definitions:

Debt To Total Assets Ratio

A financial metric indicating the proportion of a company's total assets that are financed by debt.

Times Interest Earned Ratio

A financial metric that compares a company's operating income to its interest expenses, used to evaluate its ability to meet its interest obligations.

Solvency

The ability of an entity to meet its long-term financial obligations and continue its operations indefinitely.