Which one of the following is classified as both personal property and personal-use property? Select one:...

Which one of the following is classified as both personal property and personal-use property?

Select one:

a. Thomas owned a computer which he used only to trade stocks and bonds and manage his investments.

b. Shiela owned a storage building used by her to store her personal records.

c. Wamco Company used a computer that was only used to email Wamco employees regarding company business

d. Shiela owned a computer that she used to prepare her own tax returns.

e. Shiela used a car only as a driver for Uber.

Expert Solution

The correct answer is (d) Shiela owned a computer that she used to prepare her own tax returns.

Personal Property is a class of asset that can include any asset other than real estate. Computer is not a real estate asset. Also personal property is not fixed and movable so computer can be classified as personal property.

Personal Use Property is a class of asset which an individual does not use for any business or investment purposes. As Shiela is using the computer to prepare her own tax returns this can be classified as Personal Use Property.

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ekkarill92 answered 2 years ago

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