Question

Which group of assets contains ONLY personal property? Vehicle, landscaping and office equipment Vehicle, supplies and...

Which group of assets contains ONLY personal property?

  • Vehicle, landscaping and office equipment

  • Vehicle, supplies and factory equipment

  • Land, supplies and vehicle

  • Landscaping, supplies and factory equipment

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Answer #1

Which group of assets contains ONLY personal property?

The correct answer at Option B - Vehicles, supplies and factory equipment. Personal property is any property that is movable and does not include any real estate assets. As given in the option Vehicles, supplies and factory equipment are all personal property. Hence, this is the correct answer.

Option A is incorrect. Landscaping is not personal property . Hence, this option is not valid.

Option C is incorrect. Land is an asset that is immovable. For the purposes of personal property, assets that can be moved are considered. As such, this option is incorrect.

Option D is incorrect. Landscaping is not considered as personal property. Hence, this option is not valid.

Please let me know if you have any questions via comments and all the best :)

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