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

question 70

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. $\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 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:

Moon Illusion

A visual illusion where the Moon appears larger near the horizon than it does while higher up in the sky.

Size Constancy

A perceptual phenomenon where the perceived size of an object remains constant despite changes in the distance from which it is viewed.

Motion Parallax

A depth cue in visual perception where objects closer to the observer move faster across the visual field than objects further away.

Interposition

A visual cue in which an object partially blocks the view of another, indicating the first object is closer to the viewer.