asset

[as-et]

noun

a useful and desirable thing or quality: Organizational ability is an asset.
a single item of ownership having exchange value.
assets,
  1. items of ownership convertible into cash; total resources of a person or business, as cash, notes and accounts receivable, securities, inventories, goodwill, fixtures, machinery, or real estate (opposed to liabilities).
  2. Accounting.the items detailed on a balance sheet, especially in relation to liabilities and capital.
  3. all property available for the payment of debts, especially of a bankrupt or insolvent firm or person.
  4. Law.property in the hands of an heir, executor, or administrator, that is sufficient to pay the debts or legacies of a deceased person.

Nearby words

  1. assessed value,
  2. assessment,
  3. assessment arrangements,
  4. assessor,
  5. assessorial,
  6. asset value,
  7. asset-backed fund,
  8. asset-stripping,
  9. assets,
  10. asseverate

Origin of asset

1525–35; back formation from assets, in phrase have assets, literally, have enough (to pay obligations) < Anglo-French, Old French asez enough. See assai1

Related formsas·set·less, adjective

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019

Examples from the Web for asset


British Dictionary definitions for asset

asset

noun

anything valuable or usefulexperience is their main asset See also assets

Word Origin for asset

C19: back formation from assets

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Word Origin and History for asset

asset

n.

see assets.

Online Etymology Dictionary, © 2010 Douglas Harper

Culture definitions for asset

asset

A possession that can be turned into cash to cover liabilities.

Note

Commonly, the term denotes anything of value.

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.