- 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.
- assessed value,
- assessment arrangements,
- asset value,
- asset-backed fund,
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|DAILY BEAST
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|Elizabeth Picciuto|December 2, 2014|DAILY BEAST
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|Lizzie Crocker|November 13, 2014|DAILY BEAST
Just last week, a New Zealand court ruled he could no longer continue hiding his assets.
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|Eli Lake|October 26, 2014|DAILY BEAST
Gower had debts and no assets save his land on the Squitty cliffs and the closed cannery at Folly Bay.Poor Man's Rock|Bertrand W. Sinclair
The copies of our reports are assets and should be realized on.
My grandfather seems to have mislaid or lost most of his assets before he died.The House of a Thousand Candles|Meredith Nicholson
Only after expensive litigation could Receiver Waite hope to add insurance and bond money to the assets.When Egypt Went Broke|Holman Day
Your assets of every sort will not return your creditors—I should say your creditor—fifteen per cent.Mortmain|Arthur Cheny Train
Word Origin for assets
Word Origin for asset
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.