Relevant Range of Operations. The relevant range of operations is the normal or average scope of business activities. In the other words, the relevant range of operations is the average volume of sales and production that a business experiences outside of extreme economic prosperity and depression.
Definition of prefecture. 1  1 : the office or term of office of a prefect. 2  2 : the official residence of a prefect. 3  3 : the district governed by a prefect.
When a prefect serves a five-year term, this is an example of a prefecture. When a prefect has a little white house on the main street of the town that he oversees, this little white house is an example of a prefecture.