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