Asked by Frank Lafferty on May 02, 2024
Verified
Which of the following is NOT personal property?
A) Trees that have been cut into logs.
B) An air-conditioning system before it is installed in a house.
C) Building materials.
D) A 140-acre farm.
Personal Property
Property that is not attached to real estate and includes movable objects like furniture, cars, and jewelry.
Air-Conditioning System
A mechanism designed for controlling the temperature, humidity, and purity of air in an enclosed space.
Building Materials
The various items and substances used in the construction and repair of buildings and structures.
- Distinguish between physical and non-physical assets.
Verified Answer
ZK
Zybrea KnightMay 05, 2024
Final Answer :
D
Explanation :
Personal property refers to movable items or possessions that are not permanently attached to or part of the real estate. A 140-acre farm is considered real property, not personal property, because it is a piece of land and is immovable.
Learning Objectives
- Distinguish between physical and non-physical assets.