The following are type of business organization EXCEPT

Step 1: Analyze the question We are asked to find the option that is NOT a type of business organization. Four options are forms of ownership, and one is something else.

Step 2: Explain the concept Business organizations are legal or ownership structures through which businesses are run. Common types in Nigerian Economics include:

• Sole proprietorship (one owner)
• Partnership (2 to 20 persons)
• Limited liability companies (private and public)
• Co-operative societies (members pool resources for mutual benefit)
• Public corporations (government-owned enterprises, e.g. NNPC, NEPA/PHCN in the past)

Step 3: Check each option

• A. Co-operative society: a type of business organization. ✔
• B. Entrepreneurship: this is not an organization. It is the process or skill of identifying opportunities, taking risks, and starting and managing a business. The person who does this is the entrepreneur, who is a human factor of production. ✘
• C. Partnership: a type of business organization. ✔
• D. Public corporation: a type of business organization. ✔
• E. Sole proprietorship: a type of business organization. ✔

Step 4: Answer Entrepreneurship is an activity or function, not a form of business ownership.

Exam tip: In "EXCEPT" questions, look for the option that belongs to a different category. Here, four options are structures (ownership forms), while entrepreneurship is a skill or process. Remember: entrepreneurship is what the entrepreneur does, while sole proprietorship and partnership are how the business is owned.