This question should be answered using one IRAC structure. Please include all relevant key words in your answer.
Joy takes out a loan and puts up her laptop as collateral. She originally purchased the laptop for use at her law firm. However, she occasionally brings the laptop to her apartment and uses it to check Facebook and watch Netflix.
How should Joy’s laptop be classified?
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Hint
To answer this question, you should think about and discuss whether Joy’s laptop should be classified as equipment or consumer goods.
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