Which of the following best describes tangible personal property?

Tangible personal property is defined as movable property that can be physically touched, which aligns directly with the focus on physical, concrete items. This category includes items such as vehicles, furniture, equipment, and other objects that are not fixed to land or buildings. The emphasis on physical touch is crucial since "tangible" explicitly denotes the ability to be perceived through the senses, especially touch.

The other choices do not capture the essence of tangible personal property accurately. For instance, the first option refers to property that cannot be physically touched, which is in contrast to the definition of tangible. The third choice concerning improved land speaks to real property rather than personal property, while the last option focuses on investment property, which does not inherently describe the physical nature of tangible personal property. This clarity in definition and characteristics illustrates why the specified answer effectively encapsulates the essence of tangible personal property.