- a useful and desirable thing or quality: Organizational ability is an asset.
- a single item of ownership having exchange value.
- 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).
- Accounting.the items detailed on a balance sheet, especially in relation to liabilities and capital.
- all property available for the payment of debts, especially of a bankrupt or insolvent firm or person.
- Law.property in the hands of an heir, executor, or administrator, that is sufficient to pay the debts or legacies of a deceased person.
Origin of asset
Examples from the Web for assets
Authorities have seized more than $250 million in assets from businesses across Rome.The Mayor Who Took Down the Mafia That Ruined Rome
Barbie Latza Nadeau
December 6, 2014
However, since he was living at home, our income and assets disqualified him from SSI and Medicaid.Medicaid Will Give You Money for At-Home Care, but You Might Wait Years
December 2, 2014
He was later sued by his lawyers in London for failing to pay $419,400 in counsel fees when his assets were frozen.The Mysterious Death of the Art World’s Favorite Sheikh
November 13, 2014
Just last week, a New Zealand court ruled he could no longer continue hiding his assets.The Zillionaires Who Lost Everything
October 26, 2014
By Aug. 20, Ponomarev said he learned that all of his Russian assets were frozen.The Bolshevik Who Thinks ‘The Nation’ Is Too Left Wing
October 26, 2014
Let me see what my assets will bring when reduced to cash, for this time it shall be a sale.'Lord Kilgobbin
The most intangible of assets and the most unescapable of liabilities.Rope
The liabilities thus frankly stated, let us turn to the assets.The Legacy of Greece
"In yer listin' of assets, ye haven't invoiced Maizie," said Landy.
"But there's one of your assets, or weaknesses, that she will not be able to disguise," said Davy earnestly.
- accounting the property and claims against debtors that a business enterprise may apply to discharge its liabilities. Assets may be fixed, current, liquid, or intangible and are shown balanced against liabilitiesCompare liabilities
- law the property available to an executor or administrator for settlement of the debts and payment of legacies of the estate of a deceased or insolvent person
- any property owned by a person or firm
- anything valuable or usefulexperience is their main asset See also assets
Word Origin and History for assets
1530s, "sufficient estate," from Anglo-French asetz (singular), from Old French assez (11c.) "sufficiency, satisfaction; compensation," noun use of adverb meaning "enough, sufficiently; very much, a great deal," from Vulgar Latin *ad satis "to sufficiency," from Latin ad- "to" (see ad-) + satis "enough" (see sad).
Beginning as a legal term, "sufficient estate" (to satisfy debts and legacies), it passed into general use; meaning "any property that theoretically can be converted to ready money" is from 1580s. Asset is a 19c. artificial singular. Asset stripping attested from 1972.
A possession that can be turned into cash to cover liabilities.