assets

[as-ets]

plural noun

1. Finance.,  items or resources owned by a person, business, or government, as cash, notes and accounts receivable, securities, inventories, goodwill, fixtures, machinery, or real estate (liabilities ).

   Infrastructure assets, such as telecommunications systems, are not as available or as reliable in developing countries.

   Depreciation applies only to tangible assets, which are the assets that exist in physical form, like vehicles, computers, etc.

2. Accounting.,  the items detailed on a balance sheet, especially in relation to liabilities and capital.

   The balance sheet lists assets and liabilities in order of liquidity; in other words, the assets most easily converted to cash are listed first.

3. Law.,  all property available for the payment of debts for a bankrupt or insolvent business or person, or the payment of legacies or debts for a deceased person.

   It is the job of the receiver to sell your assets and distribute the proceeds to your creditors.

4. Informal.,  parts of a person’s body seen as sexual or attractive, especially a woman’s breasts or buttocks.

   That slinky, shiny outfit really shows off her assets.

assets

/ ˈæsɛts /

plural noun

1. 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

2. 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

3. any property owned by a person or firm

Word History and Origins

Origin of assets¹

First recorded in 1300–50, for a previous sense; in phrase have assets “have enough (to pay obligations)”; asset ( def. )

Word History and Origins

Origin of assets¹

C16 (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

Example Sentences

Heritage crime refers to any illegal activity that harms historical assets.

From BBC

The designation means the US can target the assets and properties of anyone associated with the groups and share intelligence with the Ecuadorian government without limitations so it could take "potentially lethal" actions.

From BBC

AlHusseini allegedly falsified records to inflate his assets to obtain the loans, and Sanberg concealed from investigators that he was the source for revenue that was recognized by the company.

From Los Angeles Times

It also raised questions about the Holness's integrity, citing a report which had questioned his income and assets declaration.

From BBC

While the chancellor has been far from keen on a conventional wealth tax on assets, some in the wider Labour movement are pressing her to look at how those with "the broadest shoulders" pay more.

From BBC