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 CEO's investments and to complete her Form 1040
D) A company airplane used by the CEO for business travel
E) All of these are personal-use and personal property

Question

Quizplus · Accepted Answer

A computer used solely to monitor personal investments and complete personal tax filings would be considered personal-use property and personal property, as it is used exclusively for personal activities. The other options involve either company activities or assets that are used for both personal and business purposes, making them primarily business-use assets.

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