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In the case of perfectly inelastic demand,
Sales Revenue
The earnings accumulated from the sale of products or services during a specific timeframe.
Cash
A company's most liquid asset, representing currency or assets that can be immediately converted into currency.
Sales Tax Payable
A liability account that represents the sales tax collected from customers by a selling entity and owed to the tax authority.
Cash
Money in the form of currency, which includes bills, coins, and money in bank accounts that is available for immediate use.
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