assets

[ as-ets ]

plural noun

1. Finance. items or resources owned by a person, business, or government, as cash, notes and accounts receivable, securities, inventories, goodwill, fixtures, machinery, or real estate ( liabilities ):

   Infrastructure assets, such as telecommunications systems, are not as available or as reliable in developing countries.

   Depreciation applies only to tangible assets, which are the assets that exist in physical form, like vehicles, computers, etc.

2. Accounting. the items detailed on a balance sheet, especially in relation to liabilities and capital:

   The balance sheet lists assets and liabilities in order of liquidity; in other words, the assets most easily converted to cash are listed first.

3. Law. all property available for the payment of debts for a bankrupt or insolvent business or person, or the payment of legacies or debts for a deceased person:

   It is the job of the receiver to sell your assets and distribute the proceeds to your creditors.

4. Informal. parts of a person’s body seen as sexual or attractive, especially a woman’s breasts or buttocks:

   That slinky, shiny outfit really shows off her assets.

assets

/ ˈæsɛts /

plural noun

1. See liabilities
   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 liabilities Compare liabilities
2. 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
3. any property owned by a person or firm

Word History and Origins

Origin of assets¹

First recorded in 1300–50, for a previous sense; in phrase have assets “have enough (to pay obligations)”; asset ( def )

Word History and Origins

Origin of assets¹

C16 (in the sense: enough to discharge one's liabilities): via Anglo-French from Old French asez enough, from Vulgar Latin ad satis (unattested), from Latin ad up to + satis enough

Example Sentences

The Patriot Act allows the Department of Justice to seize foreign bank assets in U.S. accounts.

From The Daily Beast

Authorities have seized more than $250 million in assets from businesses across Rome.

From The Daily Beast

However, since he was living at home, our income and assets disqualified him from SSI and Medicaid.

From The 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.

From The Daily Beast

Just last week, a New Zealand court ruled he could no longer continue hiding his assets.

From The Daily Beast

For, to do this is to reduce its assets or fund for paying its indebtedness, which the law will not permit to be done.

From Project Gutenberg

We found them paying full interest on the cost of construction, and sound assets of the country.

From Project Gutenberg

These assets do not include new legislative buildings or other public works.

From Project Gutenberg

Can you make out any schedule showing your exact assets and liabilities at the present time?

From Project Gutenberg

I started as the son of a broken-down nobleman, my material assets being a trumpery title.

From Project Gutenberg