ECONOMICS
PROPERTY RIGHTS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
appurtenances
|
|
|
fixtures
|
|
|
trade fixtures
|
|
|
shrubbery
|
Detailed explanation-1: -Personal property is the stuff you own-furniture, electronics and clothing, for example. Whether you own a home or rent an apartment, insurance policies typically include personal property coverage.
Detailed explanation-2: -A fixture is a fixed asset that is physically attached to property. A fixture cannot be removed without causing damage to the asset. Examples of fixtures are integrated lights, built-in cabinets, toilets, and sinks.
Detailed explanation-3: -Trade fixture is something attached to property rented by the lessee which they are entitled to take with them after the lease ends. Trade fixtures can be many things such as a machine or shelves which require the object to be fastened to the building.
Detailed explanation-4: -Intangible. Tangible. Other distinctions.