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If a supply curve is horizontal, then supply is said to be perfectly elastic, and the price elasticity of supply approaches infinity.
Accounts Receivable
Funds that are owed to a company by customers for goods or services delivered or used but not yet paid for, typically within a short-term period.
Allowance for Doubtful Accounts
A contra-asset account that represents the estimated portion of accounts receivable that may not be collectible.
Bad Debts Expense
The amount of receivables that a company does not expect to collect and thus writes off as a loss in its accounting records.
Accounts Receivable Turnover
A financial ratio indicating how many times a company's accounts receivable are collected during a specific period.
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