Introductory Business Law CLEP Prep Practice Exam

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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!

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Which of the following is an example of a record kept by a business?

Blind memoranda
Court docket
Ledger
Summons

The correct answer is: Ledger

Ledgers are important records kept by businesses as they detailed financial transactions and accounts. They are used to track and record all incoming and outgoing transactions in a systematic and organized manner. Blind memorandas, court dockets, and summons are not examples of records kept by businesses. Blind memorandas can refer to notes or reminders that have no identifying information and are not tied to a specific business. Court dockets are schedules or lists of cases that will be heard by a court. Summons are legal documents issued by a court to require someone to appear in court or to respond to a legal complaint. While these documents may be used by businesses or involved in business related matters, they are not records kept by businesses themselves.