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 computer used solely to monitor the CEOs investments and to complete her Form 1040. D)
A company airplane used by the CEO for business travel.P1P1_E E)All of the assets are personal-use and personal property.

Question

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 computer used solely to monitor the CEOs investments and to complete her Form 1040. D)

A company airplane used by the CEO for business travel.P1P1_E E)All of the assets are personal-use and personal property.

Quizplus · Accepted Answer

A computer used solely to monitor the CEO's investments and to complete her Form 1040 is considered both personal-use (as it is used for personal financial management and tax preparation) and personal property (as it is a tangible asset owned by an individual).

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