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

question 55

Multiple Choice

Determine the proper classification(s) of the asset discussed in the following scenario: Judge Ruiz purchased a new brass-trimmed gavel to use in her courtroom.
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 II and VI are correct.

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Definitions:

King James

Refers to King James VI of Scotland and I of England and Ireland, known for the authorization of the King James Version of the Bible in 1611.

Puritans

A group of English Protestants in the 16th and 17th centuries who sought to purify the Church of England from Roman Catholic practices.

Education

The systematic process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various methods like teaching, training, research, and personal development.

Religious Toleration

The acceptance of diverse religious beliefs and practices, often institutionalized through laws allowing for freedom of worship and the practice of religion without persecution.