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
Related forms
assetless, adjective
Examples from the web for asset
Stairs, it seems, are a neglected asset in the fitness crusade.
In addition, returns on a portfolio of assets are likely to be higher than on a single commodity.
Mental flexibility is a great asset in solving crosswords.
Her inner peace was her asset.
The dilemma over whether to do-it-yourself or hire professionals applies to any valuable asset, including your home or car.
Experience in dance, stage combat or other special skills would be an asset.
This book's greatest asset is the firsthand testimony it gives from every side of the debate.
Large general booksellers also find book fairs an asset.
She relies on the village's greatest asset--gossip--for her clues.
British Dictionary definitions for asset
asset
/ˈæsɛt/
noun
1.
anything valuable or useful: experience is their main asset See also assets