BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -Personal property can be divided into a few different categories-notably tangible and intangible personal property. Tangible personal property is anything that can be held and has definitive value while intangible personal property is anything that doesn’t have any obvious value and can’t be touched.
Detailed explanation-2: -Tangible property consists of real property and personal property. Real property is property that does not move, such as land and the things that are attached to or built on that land. Intangible property consists of property that lacks a physical existence.
Detailed explanation-3: -All other assets are recorded as long-term assets. Current assets are generally tangible assets, while long-term assets can be tangible or intangible.