A term describing a firm's normal range of operating activities is:

A) Relevant range of operations.
B) Break-even level of operations.
C) Margin of safety of operations.
D) Relevant operating analysis.
E) High-low level of operations.

Relevant Range of Operations

The range of activity within which the assumptions about variable and fixed cost behavior are valid, used for budgeting and planning purposes.

Break-even Level

The point at which total revenue equals total costs, resulting in no profit or loss, and is crucial for assessing financial viability.