Which of the following statements accurately describes operating capability?

a. Operating capability may be indicated by the efficiency of the production process and comes from a company's ability to raise new capital.

b. Operating capability refers to the uncertainty of the future profitability of a company and is caused by factors such as technological, political, and economic change.

c. Operating capability is a measure of overall company performance for equity shareholders, indicated by a quantity of goods or services in a given period.

d. Operating capability refers to the ability of a company to efficiently produce goods and services for customers and may be indicated by the productive capacity of long-lived assets.