Final answer:
The correct answer is option b. The BD firm operates across various states servicing institutional clients without a state office, exemplifying modern business's independence from geographical constraints. Similarly, multinational corporations operate globally, collect capital internationally, and are not necessarily headquartered in the United States.
Step-by-step explanation:
The BD (Broker-Dealer) firm referenced in the question primarily services institutional clients and does not maintain a physical office within the state. Therefore, the firm operates across various states and does not focus on retail clients. This is indicative of how modern companies, and particularly multinational corporations, function in today’s economy. Businesses are no longer tied exclusively to specific locations due to the local availability of resources, as was the case in more traditional business models.
From the options provided regarding multinational corporations, a large share of their capital being collected from a variety of nationalities and their business conducted without regard to national borders are indeed characteristics of such entities. However, while many multinational corporations are headquartered in the United States, it is not a defining characteristic as they can be based in any country. Thus, the statement that they are primarily headquartered in the United States is incorrect, making it not a characteristic of multinational corporations.