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

question 70

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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. \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.

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Definitions:

Contracted

In general terms, it means entered into an agreement or reduced in size; in a medical context, it can refer to having caught or developed a disease.

Psychopathology

The study of psychological disorders, including their symptoms, causes, and treatment.

Anxious

Experiencing worry, unease, or nervousness, often about an imminent event or something with an uncertain outcome.

Fearful

Experiencing fear, a primary emotional response to perceived threats or danger.

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