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Determine the Proper Classification(s) of the Asset Discussed in the Following

Question 97

Multiple Choice

Determine the proper classification(s) of the asset discussed in the following scenario: Victoria purchased a new show case saw for her antique business.
I.Personal use property.
IV.Intangible property.
II.Business use property.
V.Real estate.
III.Tangible property.
VI.Personal property.


A) Statements I, III and VI are correct.
B) Statements II and III are correct.
C) Only statement VI is correct.
D) Statements II, III, and VI are correct.
E) Statements II, IV and VI are correct.

Correct Answer:

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