Mark Ghermizian Had Quit His Job and Was Looking to Start

question 24

Multiple Choice

Mark Ghermizian had quit his job and was looking to start a small business so he could be his own boss. When he read that people spend up to 15 minutes every day staring at a bathroom stall door, he decided there was real advertising potential in toilet advertising. Since he has his idea, what is Ghermizian's next step?

• A) to create a name for his business
• B) to get financing for his new business
• C) to choose a form of business organization
• D) to determine if he has the right personality to run a business

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Definitions:

Complete certainty

Complete certainty is a condition where there is absolute confidence or assurance in knowledge, decision-making, or outcomes, without any doubt.

Risk environments

Contexts or situations that involve exposure to danger, harm, or loss, whether physical, financial, or psychological.

Probabilities

The mathematical likelihood of various outcomes occurring based on certain assumptions or historical data.

Systematic errors

Errors that consistently occur in the same direction every time a measurement is made, affecting the accuracy of results across a dataset.