Real Property Can Become Personal Property If It Is ________

question 71

Multiple Choice

Real property can become personal property if it is ________.

• A) removed from the land it is situated in
• B) converted to an intangible property
• C) fixed permanently to a piece of land
• D) owned by more than one person at a time

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Definitions:

Sales

The total amount of goods and services sold by a company during a specified financial period, reflecting the company's ability to generate revenue.

Marketable Securities

Financial instruments that can be easily converted to cash without losing much value.

Long-term Debt

Borrowings that are due for repayment after more than one year, used to finance a company's operations and growth.

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, typically used by businesses to manage liquidity and ensure they can meet their cash requirements.