Meaning & Definition of word "Asset"

Asset

/ˈasɛt/

1. A useful or valuable thing, person, or quality.
- Example: Her ability to speak multiple languages is a significant asset in her career.
2. An item of property owned by a person or company, regarded as having value.
- Example: The company's assets include real estate, machinery, and intellectual property.
3. In accounting, any resource owned by a business that is expected to provide future economic benefits.
- Example: Investors often examine a firm's balance sheet to assess its assets before making investment decisions.

●Middle English, from the Old French 'asset', past participle of 'asseoir' meaning 'to sit' or 'to settle'.

liquid asset:

An asset that can be quickly converted into cash.

tangible asset:

Physical assets that can be touched or physically measured.

intangible asset:

Non-physical assets like patents or trademarks.

liabilities:

What a company owes; debts or obligations.

equity:

The value of ownership interest in an asset.

Meaning: Someone very valuable to a group or team.

● Example Sentence: He's an asset to our club; we couldn't do without him.

Meaning: A person with desirable qualities or skills.

● Example Sentence: She's such an asset at work; her ideas always improve the project.