Which of the following statements about the U.S. advertising agency business is true?
A. Most U.S. ad agencies are large businesses with billings exceeding $100 million per year.
B. Most U.S. ad agencies are individually owned small businesses employing fewer than five people.
C. Nearly all of the U.S. domestic billings are handled by the top 100 agencies.
D. Most of the top U.S. ad agencies are headquartered in Chicago.
E. There are approximately 1,000 agencies listed in the Standard Directory of Advertising Agencies.
Answer: B