For a company to qualify as small, which thresholds must be met at least two of the three?

• A. Turnover less than £6.5m; Balance sheet less than £3.26m; Employees <= 50
• B. Turnover less than £6.5m; Balance sheet less than £3.26m; Employees <= 100
• C. Turnover less than £6.5m; Balance sheet less than £5m; Employees <= 50
• D. Turnover less than £5m; Balance sheet less than £3m; Employees <= 60

Answer: (A)

In this context, a company is considered small if it meets two of three size criteria: turnover, balance sheet total, and number of employees. The official thresholds are: turnover not more than £6.5 million; balance sheet total not more than £3.26 million; and not more than 50 employees.

The option that uses these exact limits is correct because it aligns with the standard definition. It satisfies all three criteria, which certainly means two or more are met.

The other options deviate from these standard thresholds (for example, modifying the employee limit or changing the turnover/balance sheet caps). Because they don’t reflect the established size thresholds, they aren’t the correct definition of a small company.