You are a senior manager, and you are mentoring a new manager. you want to emphasize to the new manager that being effective in his job will depend on sound decision making. what reasons will you give? check all that apply. managerial decisions are made in isolation from one another, so every decision must be correct. ultimately, whether the organization meets its goals depends on a series of many decisions. decision making determines how the organization solves problems. decisions determine whether the organization allocates resources effectively.

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.