An example of an asset that is both personal-use and personal property is:
A) A computer used solely to email company employees regarding company activities.
B) A storage building used by the CEO to store personal records.
C) A company airplane used by the CEO for business travel.
D) A computer used solely to monitor the CEO's investments and to complete her Form 1040.
E) All of the assets are personal-use and personal property.

Question

Quizplus · Accepted Answer

A computer used solely to monitor personal investments and complete personal tax returns is an asset that is both personal-use and personal property. It is personal-use because it is used for personal financial management, and it is personal property because it is owned by the individual for personal use. The other options either involve business use or are owned by the company rather than the individual.

An Example of an Asset That Is Both Personal-Use and Personal