What qualifies as a business day?

A business day typically refers to any day that is not a weekend (Saturday and Sunday) or a federal holiday, during which standard business operations are conducted. This definition aligns with the common practice in various industries and particularly in finance and commerce, where operations, transactions, and communications are predominantly carried out on these days.

When considering the correct answer, it's important to note that a business day must account for days when most businesses are closed, which would include weekends and federal holidays. This ensures that when transactions or deadlines are set, they are applicable to days when the majority of businesses are operational, facilitating smoother processes.

By excluding weekends and holidays, the definition of a business day effectively ensures that all parties involved in a transaction or business communications can interact meaningfully and that deadlines are practical, thereby maximizing efficiency in business operations.