Which of the following statements about NAICS codes is TRUE?
A. The letters in NAICS stand for National Assortments in Commercial Stores.
B. Retailers with the same NAICS codes are likely to compete against each other.
C. A retailer's principal competitor is seldom, if ever, in the same NAICS category.
D. The NAICS code categorizes businesses according to an 8-digit classification system.
E. The classifications for retail firms are based upon the location of the store fronts.
Answer: B
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