1. Arbitrage is the simultaneous buying and selling of the same article in two or more markets. 2. The consistency concept is that a company will continue in operation for the foreseeable future. 3. A public company must have at least one director and a private company must have at least two. 4. A joint venture is a temporary partnership between two or more traders in respect of some particular trading transaction or speculation. 5. Shareholders' equities refers to money obtained by or due to longand short-term lenders of loans. 6. Goodwill is disclosed as a current asset in the consolidated annual financial statements. 7. The statement of changes in equity reflects all changes in share capital and reserves during the year. 8. Joint ventures, where a company joins with another to become one company, are uncommon in business. 9. Goodwill is the benefit arising from connection and reputation and from the probability that the old customers will remain. 0. A close corporation is a legal entity of which not more than ten natural persons can be members