Final answer:
Antoine's car qualifies as 'Personal Property' and 'Personal-Use Property' since it is used for his personal transportation. It does not meet the criteria for 'Investment Property,' 'Business Property,' 'Real Property,' or 'Income-Producing Property'.
Step-by-step explanation:
Antoine owns a car which he uses for personal transportation. To identify which classifications apply to his car from the options provided, we need to understand what each term means and how it relates to Antoine's situation:
- Investment property is a property that is not primarily for personal use, but rather, purchased to generate rental income or to gain an investment return upon resale. Antoine's car is not used for this purpose, so this classification does not apply.
- Business property refers to assets used in the operation of a business. Since Antoine uses the car for personal transportation, it is not considered business property unless it is specifically used for business operations, which is not indicated in the scenario.
- Real property encompasses land and anything that is permanently attached to it, such as buildings. A car is not attached to land and falls under the category of personal property, not real property.
- Personal property refers to any property that is not real property and is often movable. Antoine's car is a perfect example of personal property.
- Personal-use property includes items used primarily for personal enjoyment and household purposes. Antoine's car falls under this classification as well.
- Income-producing property is any property or asset that generates income, such as rental or investment properties. Antoine's car does not generate income as he uses it for transportation, so this does not apply.
Therefore, the appropriate classifications for Antoine's car would be D. Personal Property and E. Personal-Use Property.