Which of the following best describes personal property?

Personal property encompasses items that are owned by individuals rather than entities such as the government or corporations. This category includes tangible assets like money, vehicles, furniture, and other physical goods that people use for personal purposes.

The other choices refer to distinct categories of property. Land and buildings fall under real property, which pertains to immovable assets. Items owned by the government are classified as public property, and intangible assets like patents and copyrights are considered intellectual property. Collectively, these definitions help clarify why money and goods owned by individuals accurately represent personal property.