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Definitions for Assets

[1] a useful and desirable thing or quality: Organizational ability is an asset.
[2] a single item of ownership having exchange value.
[3] assets, 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.
[4] 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
[5] 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
[6] any property owned by a person or firm
[7] anything valuable or useful experience is their main asset See also assets

Words related to Assets

assetgoods, wealth, estate, money, equity, riches, credit, capital, belongings, worth, resources, valuables

Words nearby Assets

assetassess, assessed value, assessment, assessment arrangements, assessor, asset, asset value, asset-backed fund, asset-stripping, assets, asseverate

Origin of Assets

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

Other words from Assets

as·set·less , adjective

Word origin for Assets

C19: back formation from assets

Synonyms for Assets

belongings, capital, credit, equity, estate, goods, money, resources, riches, valuables, wealth, worth