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Option 2 : Only conclusion II follows.
The least possible Venn diagram is given below:
[ alt="F1 V.B Madhu T.T.P 23.11.19 D3" src="//storage.googleapis.com/tb-img/production/19/11/F1_V.B_Madhu_T.T.P_23.11.19_D3.png" style="width: 241px; height: 113px;">
Conclusions:
I. All chair is sofa → False (no definite statement is given).
II. Some sofa is couch →True (it is a definite statement).
III. Some couch is not bed → False (no definite statement is given).
Hence, the correct answer is only conclusion II follows.
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