asset

[ as-et ]
/ ˈæs ɛt /

noun

a useful and desirable thing or quality: Organizational ability is an asset.
a single item of ownership having exchange value: Our summer home is an asset we're not willing to sell.
(in intelligence) a person followed or spied upon to obtain information: as a participant in an operation, an asset may be consenting, forced, as by blackmail, or unaware of being used: It was a catalog of virtually every CIA asset within the Soviet Union.Compare confidential informant.
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.

QUIZZES

THINK YOU’VE GOT A HANDLE ON THIS US STATE NICKNAME QUIZ?

Did you ever collect all those state quarters? Put them to good use on this quiz about curious state monikers and the facts around them.
Question 1 of 8
Mississippi’s nickname comes from the magnificent trees that grow there. What is it?

Origin of asset

First recorded in 1525–35; back formation from assets, in phrase have assets, literally, “have enough (to pay obligations),” from Anglo-French, Old French asez “enough,” from unattested Vulgar Latin ad satis “to sufficiency”; see also assai1

OTHER WORDS FROM asset

as·set·less, adjective
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020

Example sentences from the Web for asset

British Dictionary definitions for asset

asset
/ (ˈæsɛt) /

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

Cultural definitions for asset

asset

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

notes for asset

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.