Jameson Biz recorded an accounting event that had the following affect on the financial statements: Assets = Liab. + Equity Rev. − Exp. = Net Inc. Cash Flow + NA + + NA + NA Which of the following accounting events could have caused these effects on Jameson's statements? Multiple Choice Collected cash from accounts receivable. Earned revenue on account. Issued common stock. Earned cash revenue.

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation