Asked by Kayden Ngenzi on Apr 28, 2024
Verified
The classification system used to classify firms into industries is now called the ________ code.
A) SIC
B) NAICS
C) ISO 57
D) ISM
NAICS Code
A classification system used in North America to categorize businesses into industries based on their economic activities.
- Master the various intervals of the industry life cycle and the attributes relevant to each interval.
Verified Answer
ZK
Zybrea KnightMay 02, 2024
Final Answer :
B
Explanation :
The current classification system used to classify firms into industries is called the North American Industry Classification System (NAICS). The Standard Industrial Classification (SIC) code was an earlier classification system that has since been replaced by NAICS. ISO 57 and ISM are not commonly used classification systems for industries.
Learning Objectives
- Master the various intervals of the industry life cycle and the attributes relevant to each interval.