Read the PDF situation of Anne and Cherry. Answer based on the PRINCIPLES, TOOLS AND TECHNIQUES IN CREATING A SMALL BUSINESS.QUESTIONS TO ANSWER:1.Do you think Anne and Cherry were right with how they manage/run their small business? Explain your answer.2.In you opinion, which principle/s of creating a successful small business did Anne and Cherry apply? Explain your answer.3. How about the principle/s that they did not adhere to? Explain your answer.4. Why is it important to conceive, operate and expand one's business based on the aforementioned principles? Connect your answer to investment, interest rate, rent, minimum wage and taxes

DIRECTIONS: Analyze the situation below carefully. Then answer the questions that follow. Anne and Cherry are best of friends since high school. Anne is good in baking and Cherry is good in selling. Both love attending celebrations especially birthdays and weddings because they see the joy in people's eye when there is a beautiful cake. To increase their income, they decided to put up an online business of customized cakes. They contributed P15,000 each to start the business and agreed to split the profits equally as business partners. The friends decided that Anne will be in charge of the production while Cherry will be in charge of the online site's marketing and promotion. Cherry started taking orders while Anne became busy on baking products. The business started to get big orders from regular customers and other clients who visited their online site. After the first year of the business, while Cherry continue with her regular work, Anne as in-charge of the production, started getting sick and advised to rest. Now, Anne can no longer continue baking for their business. Because of what happened, Cherry was left with no other option but to just get baked products from other bakers and resell them iust to save the business