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E-Systems,Inc. ,a manufacturer of computer chips,offers to sell 1,000 chips to Swell Computers for $2,000 in a signed memo that states the offer is good for one year.Four months later,E-Systems revokes the offer,having never received an acceptance from Swell.After receiving the revocation,Swell wants to accept E-Systems's offer.What is the result?
Fiscal Year
A 12-month period used for accounting purposes and preparing financial statements, which may not align with the calendar year.
Current Ratio
A liquidity ratio that measures a company's ability to pay short-term and long-term obligations, calculated as current assets divided by current liabilities.
Working Capital
The difference between a company's current assets and current liabilities, indicating the liquidity available to run its operations.
Fiscal Year
A twelve-month period used for accounting purposes and financial reporting by businesses, which may not align with the calendar year.
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