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

Question 55

Multiple Choice

Determine the proper classification(s) of the asset discussed in the following scenario: Judge Ruiz purchased a new brass-trimmed gavel to use in her courtroom.
I.Personal use property.
IV.Intangible property.
II.Business use property.
V.Real estate.
III.Tangible property.
VI.Personal property.


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

Correct Answer:

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