Introductory Business Law CLEP Prep Practice Exam

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Prepare for the Introductory Business Law CLEP Exam with our comprehensive quiz, designed to cover essential legal concepts and practices. Study effectively and boost your chances of success!

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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.

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