assets

UK: /ˈæsɛts/

Collins Concise English Dictionary © HarperCollins Publishers::

assets / ˈæsɛts/ noun:plural

1. 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. 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

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

WordReference Random House Learner's Dictionary of American English © 2026

as•set /ˈæsɛt/   n. [countable]

1. a useful and desirable thing or quality:
   math skill is an asset in business.
2. assets, [plural]
   • the total resources of a person or business.
   • the items listed on a balance sheet, esp. in relation to liabilities and capital.
   • Business all property available to pay debts.

WordReference Random House Unabridged Dictionary of American English © 2026

as•set  (as′et), n. 

1. a useful and desirable thing or quality:
   Organizational ability is an asset.
2. Business a single item of ownership having exchange value.
3. 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.
   • Business all property available for the payment of debts, esp. 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.

• Anglo-French, Old French asez enough. See assai¹
• back formation from assets, in phrase have assets, literally, have enough (to pay obligations) 1525–35

as′set•less, adj.