Which term represents the monies a company earns by selling its products and services?

Which of the following stages of the PLC is characterized with the same level or slightly higher level of promotional expenditures in an attempt to respond to increasing competition?

A) growth B) decline C) maturity D) product development E) adoption

Your new firm is operating in an all-cash environment without taxes. You sold $1,000 of inventory for three times the amount you paid for it. The accounting entries you would make for this transaction are:

A) $1000 increase in cash, $1,000 decrease in inventory. B) $2,000 increase in cash. C) $3,000 increase in cash, $1,000 decrease in inventory, $2,000 increase in accounts receivable. D) $3,000 increase in cash, $1,000 decrease in inventory, $2,000 increase in retained earnings.