Question

Real property is classified in one of three ways: (1), which is NOT depreciable; (2) rental property, which is used as dwelling units by lessees; or (3) property.

a. Intangible; Commercial; Personal
b. Tangible; Residential; Personal
c. Personal; Tangible; Commercial
d. Personal; Residential; Tangible

Answer 1

Real property is classified as tangible, residential, personal.

Step-by-step explanation:

In real estate, properties are classified in one of three ways: (1) real property, which is NOT depreciable; (2) rental property, which is used as dwelling units by lessees; or (3) personal property.

Therefore, the correct classification for real property is: Tangible, Residential, Personal.