Answer / satyaki_raju@yahoo.com

Required minimum members to form the following
1.Sole trading-The names itself indicating as ONE
2.Partnership-Minimum-2,Maximum incase of banking firms-10
incase of other firms-20
3.Private Ltd Co-Minimum-2maximum-50
4.Public Ltd Co-Minimum-7 and maximum---Unlimited

state and explain THREE types of situation to which accounting concept might be applicable

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