Introductory Business Law CLEP Prep Practice Exam

Disable ads (and more) with a membership for a one time $4.99 payment

Prepare for the CLEP Business Law Exam with flashcards and multiple-choice questions. Each question comes with hints and explanations to help you succeed. Master the content and pass your exam!

Start Multiple Choice Practice Test
Start Flash Cards

Practice this question and more.

Which of the following is considered a form of business organization?

  1. Limited Partnership

  2. Worker's Co-operative

  3. Sole Proprietorship

  4. Parent Company

The correct answer is: Sole Proprietorship

A Limited Partnership and Parent Company are specific types of partnerships and companies respectively that involve more than one person. A Workers Co-operative is a type of organisation where employees collectively run the business. Therefore, none of those options are considered a form of business organization and are therefore incorrect. The correct option is Sole Proprietorship, which is a business organization owned and run by one person.

More Questions Like This