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

question 22

Multiple Choice

Determine the proper classification(s) of the asset discussed in the following scenario: Victoria purchased a new show case saw for her antique business.
I. Personal use property. $\quad$$\quad$$\quad$ IV. Intangible property.
II. Business use property. $\quad$$\quad$$\quad$ V. Real estate.
III. Tangible property. $\quad$$\quad$$\quad$$\quad$ VI. Personal property.

• A)Statements I, III and VI are correct.
• B)Statements II and III are correct.
• C)Only statement VI is correct.
• D)Statements II, III, and VI are correct.
• E)Statements II, IV and VI are correct.

---

Definitions:

Selling Unit

A specific quantity or configuration of a product that is made available for sale to consumers.

Marginal Benefit

The additional satisfaction or utility gained from consuming one more unit of a good or service.

Marginal Cost

The price associated with manufacturing an additional unit of a product or service.

Studying

The act of devoting time and attention to gain knowledge on a particular subject or to prepare for exams.