- The definition of an asset is a person or thing that has value.
- An honest and great car mechanic is an example of an asset.
- A house is an example of an asset.
asset definition by Webster's New World
- anything owned that has exchange value
- a valuable or desirable thing to have: charm is your chief asset
- Accounting all the entries on a balance sheet showing the entire resources of a person or business, tangible and intangible, including accounts and notes receivable, cash, inventory, equipment, real estate, goodwill, etc.
- property, as of a business, a bankrupt, etc.
- the property of a deceased person available to his or her estate for the payment of debts and legacies
Origin: earlier assets ; from Anglo-French assetz (in legal phrase aver assetz, to have enough) ; from Old French assez, enough ; from Vulgar Latin an unverified form ad satis, sufficient ; from Classical Latin ad, to plush satis, enough: see sad
asset definition by American Heritage Dictionary
- A useful or valuable quality, person, or thing; an advantage or resource: proved herself an asset to the company.
- A valuable item that is owned.
- A spy working in his or her own country and controlled by the enemy.
- assetsa. Accounting The entries on a balance sheet showing all properties, both tangible and intangible, and claims against others that may be applied to cover the liabilities of a person or business. Assets can include cash, stock, inventories, property rights, and goodwill.b. The entire property owned by a person, especially a bankrupt, that can be used to settle debts.
Origin: Back-formation from English assets, sufficient goods to settle a testator's debts and legacies, from Anglo-Norman asetz, from asez, enough, from Vulgar Latin *ad satis, to sufficiency : Latin ad, to; see ad- + Latin satis, enough; see sā- in Indo-European roots.
asset - Business Definition
asset - Cultural Definition
A possession that can be turned into cash to cover liabilities.
- Commonly, the term denotes anything of value.
asset - Investment & Finance Definition
Cash, accounts receivables, property, or equipment that has value and is listed on a company’s balance sheet. An asset may be bought or sold and its price can range from hundreds of dollars to millions of dollars.
asset - Legal Definition
- Any property or right that is owned by a person or entity and has monetary value. See also liability.
- All of the property of a person or entity or its total value; entries on a balance sheet listing such property.