: Consider the following list of business decisions. Which decisions would be handled most effectively by group or team decision making? Which would be handled most effectively by individual decision making? Explain your answers. * A decision about switching pencil suppliers * A decision about hiring a new CEO * A decision about firing an employee for stealing * A decision about calling 911 to report a fire in the warehouse * A decision about introducing a brand new product

Small Business Management: launching and growing entrepreneurial ventures 17th ed.

End of Chapter Question 7.16 Three sisters formed a partnership, SkinDeep, to sell skincare products made from organic ingredients. They have been operating for one year. The bank balance at the end of the year is $47,970. A summary of business transactions is as follows: Sales to customers $256,000 Receipts from customers 218,000 Payments for inventory 109,000 Payments for electricity, telephone, rent and insurance 5,000 Purchase of a motor vehicle 32,000 Drawings 54,000 Payment of interest 8,000 Loan proceeds 18,000 Interest received 970 Equity injection 19,000 Prepare a statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000). Do not leave any answer fields blank; instead enter 0 as the amount.)