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Collins Concise English Dictionary © HarperCollins Publishers:: assets /ˈæsɛts/ pl n - 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
- 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
- any property owned by a person or firm
Etymology: 16th Century (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 as•set /ˈæsɛt/USA pronunciation n. [countable]- a useful and desirable thing or quality: math skill is an asset in business.
- assets, [plural]
- the total resources of a person or business.
- the items listed on a balance sheet, esp. in relation to liabilities and capital.
- Businessall property available to pay debts.
WordReference Random House Unabridged Dictionary of American English © 2024as•set (as′et),USA pronunciation n. - a useful and desirable thing or quality:Organizational ability is an asset.
- Businessa single item of ownership having exchange value.
- 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). - [Accountableing.]the items detailed on a balance sheet, esp. in relation to liabilities and capital.
- Businessall property available for the payment of debts, esp. of a bankrupt or insolvent firm or person.
- Lawproperty in the hands of an heir, executor, or administrator, that is sufficient to pay the debts or legacies of a deceased person.
- Anglo-French, Old French asez enough. See assai1
- back formation from assets, in phrase have assets, literally, have enough (to pay obligations) 1525–35
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