Personal property does not include which one of the following?A computerA homeA carA promissory note
Question
Personal property does not include which one of the following?
- A computer
- A home
- A car
- A promissory note
Solution
Personal property refers to movable items that are owned by an individual, as opposed to real property, which refers to fixed properties like land and buildings. In the options provided:
- A computer - This is considered personal property because it is a movable item.
- A home - This does not qualify as personal property; it is classified as real property since it is a fixed asset.
- A car - This is personal property because it is a vehicle that can be moved.
- A promissory note - This is also personal property as it signifies a financial obligation and can be transferred.
Thus, the correct answer is A home, as it does not qualify as personal property.
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