Question

Helen owns heavy construction equipment and the tools to service it, as well as office furniture, including computers. Isla owns a number of patents, trademarks that identify the products made under those patents, and stock in the company that sells those products. Personal property includes the items owned by:

a. Helen only.
b. Isla only.
c. Helen and Isla.
d. neither Helen nor Isla.

Answer 1

Personal property encompasses both tangible and intangible items. Helen owns tangible personal property like construction equipment and office furniture, while Isla owns intangible personal property like patents and trademarks. Thus, the personal property includes the items owned by both Helen and Isla.

Step-by-step explanation:

The question is asking which items owned by Helen and Isla can be categorized as personal property. Personal property includes both tangible and intangible items that are owned by an individual. Helen owns heavy construction equipment, tools for the equipment, and office furniture, including computers, which are all considered tangible personal property. On the other hand, Isla owns a number of patents, trademarks, and stock in a company, which constitute intangible personal property. Therefore, personal property includes the items owned by Helen and Isla.