What is defined as moveable property used for business purposes?

What is defined as moveable property used for business purposes?

• A. Real estate assets
• B. Inventory
• C. Business personal property
• D. Cash assets

Answer: (C)

Business personal property refers to movable assets owned by a business that are used in the operations of that business. This category includes items such as furniture, equipment, machinery, and other tangible assets that can be easily moved and are utilized for business purposes. It is distinct from real estate, which involves fixed property such as land and buildings, and from inventory, which specifically pertains to items that a business holds for sale to customers. Cash assets, while essential for operations, are not classified as physical, moveable property. Thus, business personal property is the correct term for moveable property utilized in a business context.

Business personal property refers to movable assets owned by a business that are used in the operations of that business. This category includes items such as furniture, equipment, machinery, and other tangible assets that can be easily moved and are utilized for business purposes. It is distinct from real estate, which involves fixed property such as land and buildings, and from inventory, which specifically pertains to items that a business holds for sale to customers. Cash assets, while essential for operations, are not classified as physical, moveable property. Thus, business personal property is the correct term for moveable property utilized in a business context.