This study explores the internal validity and reliability of Kolb’s revised Learning Style Inventory (LSI-2A and LSI-3) in a sample of 221 graduate and undergraduate business students. Research on the LSI is also reviewed and the implications of conducting factor analysis using ipsative data are explored. Experiential Learning Theory is presented and the concept of learning styles explained. This study largely supports prior research supporting the internal reliability of scales. Principle Component Analysis provides evidence for a 2 factor structure as hypothesized by Kolb.