What does intangible personal property include?

Intangible personal property encompasses non-physical assets that do not have a tangible form but still hold value. This category includes stocks, bonds, and intellectual property rights, which represent ownership and rights rather than a physical entity. Stocks and bonds are financial instruments that signify ownership in a company or a creditor relationship with a governmental entity or corporation, while intellectual property rights protect creative inventions, trademarks, copyrights, and patents.

The other options clearly refer to tangible assets; for instance, furniture and machinery can be touched and moved, while land and buildings are fixed assets that have a physical presence. Rented equipment and vehicles are also tangible goods, as they can be physically seen and utilized. Consequently, all these other options do not fit the definition of intangible personal property, solidifying the notion that the correct answer relates specifically to assets that are recognized for their value but do not have a physical form.