Ashanka:
The third point in your introduction says:
Is Conditional Access available to Office 365 Business Premium subscribers?
No, Conditional Access is not available to Office 365 Business Premium subscribers; it is a Microsoft 365 Business entitlement.
I have been told that it is possible to combine an Office 365 Business Essentials (soon to be Microsoft 365 Business Basic) license with an Azure AD Premium P1 license for the underlying user-id to enable conditional access for the user-id. Do you agree? This is a scenario that I began three years ago in my solo entrepreneur business where I have one computer but three roles that began as separate user-ids/emails, which were originally one O 365 Business premium license (more recently upgraded to M 365 Business) and two O 365 Business Essentials licenses. Particularly with the advent of MFA, combined with Zero Trust Network Architecture, this is an almost intuitively obvious outcome. Or is it?