Indicate the Classification of Each of the Following Assets as Personal

question 48

Essay

Indicate the classification of each of the following assets as personal property, real property, intangible property, personal use property or business use property.
a.A dentist purchases a sofa for the waiting room at his dental office.
b.A dentist purchases a sofa for his living room at home.
c.A dentist has a landscape architect plant shrubbery and trees around his office building.
d.A dentist pays a landscaper to grade his land and install fencing for a baseball practice field for his son.
e.A dentist obtains a patent for a procedure he developed.

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Definitions:

Extemporaneous

A method of speaking or performing with little or no advance preparation.

Presentation Method

Various techniques or approaches used to deliver information, ideas, or findings to an audience effectively.

Memorizing

The process of committing information to memory so that it can be recalled later without reference to the original source.

Reading

Reading involves interpreting and understanding the meaning of written symbols and languages, allowing individuals to gain information, knowledge, and enjoyment from text.