Property that is not uniquely identifiable and is subject to easy mutual substitution is called:
A)fungible property.
B)real property.
C)private property.
D)public property.
E)personal property.

Question

Quizplus · Accepted Answer

Fungible property refers to goods or assets that are interchangeable with other goods or assets of the same type and value. For example, grains, oil, and other commodities can be considered fungible property. Realty, on the other hand, is unique and not interchangeable as each property has different attributes and features. Therefore, among the given options, the best choice is A) fungible property.

Property That Is Not Uniquely Identifiable and Is Subject to Easy