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Classify each of the following types of property as either real (R), personal-tangible (PT), or personal-intangible...

Classify each of the following types of property as either real (R), personal-tangible (PT), or personal-intangible (PI):

a. Inventory

b. Timber

c. Apartment Building

d. Certificate of Deposit

e. Company Car f. Duplex

Solutions

Expert Solution

Personal Tangible

​​​1. Timber

2. Company car of duplex

3. Inventory

Tangible personal property is physical Property that can be touched, such us furniture, vehicles, etc. It can be moved from one location to another.

Real

1. Apartment building

The key difference between personal property and real property is that real property is fixed permanently to one location. This includes land and anything that is built on the land. It also includes anything that's growing on the land or that exists under the face of the land. Example land, building, etc.

Personal Intangible

​1. Certificate of deposit

Intangible personal property is an item of individual value that cannot be touched or held. Intangible personal property can include any item of worth that is not physical in nature but instead represents something else of value. Examples of intangible personal property include patents, copyrights, life insurance contracts, securities investments, and partnership interests.

ekkarill92 answered 2 years ago
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