Determine the Proper Classification(s) of the Asset Discussed in the Following

question 46

Multiple Choice

Determine the proper classification(s) of the asset discussed in the following scenario: Judge Marshall purchased a new gold-trimmed gavel to decorate his living room.
I.Personal use property.
IV.Intangible property.
II.Business use property.
V.Real estate.
III.Tangible property.
VI.Personal property.
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• A)Statements I and III are correct.
• B)Only statement VI is correct.
• C)Statements II and III are correct.
• D)Statements II, III, and VI are correct.
• E)Statements I, III and VI are correct.

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Definitions:

Power of Recognition

The authority of a state to acknowledge and accept the legal existence of another state or government.

Gerrymandering

The practice of altering the borders of voting districts to benefit a particular political party or social group.

Geographic Clustering

The phenomenon where entities or individuals tend to group together in specific physical locations due to economic, social, or political reasons.

Trial Jury

A group of citizens selected to hear the evidence in a legal case and render a verdict based on the information presented in court.