assets
Any property or object of value that one possesses, usually considered as applicable to the payment of one's debts.
Example
“His assets are much greater than his liabilities.”
Other meanings
The left side of a balance sheet.
“The assets must equal liabilities, otherwise there is an error in your balance sheet.”
sufficient estate; property sufficient in the hands of an executor or heir to pay the debts or legacies of the testator or ancestor to satisfy claims against it.
Related words
- swollen assets theory
Word history
From Old French "assez" (enough).
Where this comes from
This definition is adapted from “assets” on Wiktionary, by its contributors, published under CC BY-SA 4.0. This page is published under the same licence.