A Multinational Corporation is defined as :
Carrying out production or operation in more than one country
Carrying out production or operation in more than one country option is correct.
A Multinational Corporation (MNC) is defined by its productive footprint across more than one country -- it carries out production or operations in multiple national jurisdictions, typically through wholly-owned subsidiaries, joint ventures or foreign branches.
Neither a multi-ethnic workforce nor foreign suppliers nor a large number of volunteers make a company multinational; only the geographic spread of its productive activity does. Hence the defining feature is carrying out production or operation in more than one country.
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