Introductory Business Law CLEP Test 2025 – 400 Free Practice Questions to Pass the Exam

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.