asset

noun

as·​set ˈa-ˌset 

 also  -sət

plural assets

1

assets plural

a

: the property of a deceased person subject by law to the payment of his or her debts and legacies

b

: the entire property of a person, association, corporation, or estate applicable or subject to the payment of debts

2

: advantage, resource

His wit is his chief asset.

—sometimes used euphemistically or humorously in the plural to refer to parts of a person's body (such as the breasts or buttocks) that are considered attractive

We tested RLS's eight-panel shorts on a one-day bike ride. … there was enough padding for saddle comfort, yet not so much that it exaggerated our assets.

—Vicky Lowry

Greenberg hid his athletic physique under baggy clothes … until he realized that tighter jeans and knits show off his assets better.

—Sandra Nygaard

3

a

: an item of value owned

b

assets plural : the items on a balance sheet showing the book value of property owned

4

: something useful in an effort to foil or defeat an enemy: such as

a

: a piece of military equipment

b

: spy

Synonyms

• agent
• emissary
• intelligencer
• mole
• operative
• spook
• spy
• undercover

Examples of asset in a Sentence

The state's natural assets include mountains and beautiful lakes.

rumors persisted that CIA assets were behind the coup d'état

Recent Examples on the Web

In a market dominated by the likes of BTC, this accomplishment is not a mere feat but a reflection of the digital asset's resilience and adaptability. —Jon Stojan, Austin American-Statesman, 22 Nov. 2024

Potential restitution would be a minimum of $44.3 million, Neal said, noting that Smith’s properties and other assets could be forfeited to help pay the debt. —Christina Hall, Detroit Free Press, 21 Nov. 2024

Why Pennsylvania’s Leadership Matters Pennsylvania’s legislation arrives at a critical moment for the digital asset ecosystem. —Tonya Evans, Forbes, 21 Nov. 2024

Chapter 7 is a liquidation bankruptcy, where one's nonexempt property and assets — possessions not protected by bankruptcy — are turned over to a trustee, and debt is discharged in 3 to 6 months. —Kate Gibson, CBS News, 20 Nov. 2024

Word History

Etymology

back-formation from assets, singular, sufficient property to pay debts and legacies, from Anglo-French assetz, from asez enough, from Vulgar Latin *ad satis, from Latin ad to + satis enough — more at at, sad

First Known Use

14th century, in the meaning defined at sense 1a

Phrases Containing asset

• asset-stripping
• working asset

Kids Definition

asset

noun

as·​set ˈas-ˌet 

1

plural : all the property of a person, corporation, or estate that may be used in payment of debts

2

: a quality or thing that can be used to advantage

a real asset to the team

Legal Definition

asset

noun

as·​set ˈa-ˌset, -sət 

1

: the entire property of a person, business organization, or estate that is subject to the payment of debts

—used in pl. compare equity

2

: an item of property owned

— admitted asset

: an asset allowed by law to be included in determining the financial condition of an insurance company compare nonadmitted asset in this entry

— appointive asset

: an asset in an estate that is to be distributed under a power of appointment

— capital asset

: a tangible or intangible long-term asset especially that is not regularly bought or sold as part of the owner's business

specifically : any asset classified as a capital asset by law (as section 1221 of the Internal Revenue Code)

— current asset

: a short-term asset (as inventory, an account receivable, or a note) that can be quickly converted into cash

— equitable asset

: an asset especially in an estate that is subject to the payment of debts only in a court of equity

— fixed asset

: a tangible asset (as a piece of equipment) that is of a permanent or long-term nature

— intangible asset

: an asset (as goodwill or a patent) that does not have physical form

— marital asset

: an asset acquired by either spouse or both spouses during a marriage

Note: Marital assets are generally subject to equitable distribution on divorce.

— net assets

: the excess of assets over liabilities

called also net worth

: admitted assets considered as a whole

— net quick assets

: the excess of quick assets over current liabilities

— nonadmitted asset

: an asset not allowed by law to be included in determining the financial condition of an insurance company because it cannot be quickly converted into cash without incurring a loss compare admitted asset in this entry

— quick assets

: cash, accounts receivable, and other current assets except inventories

— tangible asset

: an asset that has physical form and is capable of being appraised at an actual or approximate value

— wasting asset

: property (as a copyright or oil well) that will eventually expire or be used up and lose its value

Etymology

back-formation from assets, singular, sufficient property to pay debts and legacies, from Anglo-French asetz, from Old French asez enough