noun as·set \ˈa-ˌset also -sət\

: a valuable person or thing

: something that is owned by a person, company, etc.

Full Definition of ASSET

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
:  advantage, resource <his wit is his chief asset>
a :  an item of value owned
b plural :  the items on a balance sheet showing the book value of property owned
:  something useful in an effort to foil or defeat an enemy: as
a :  a piece of military equipment
b :  spy

Examples of ASSET

  1. The state's natural assets include mountains and beautiful lakes.
  2. <rumors persisted that CIA assets were behind the coup d'état>

Origin of ASSET

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: 1531

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

Rhymes with ASSET

ASSET Defined for Kids


noun as·set \ˈa-ˌset\

Definition of ASSET for Kids

:  someone or something that provides a benefit <Your sense of humor is an asset.> <She is an asset to the class.>
assets plural :  all the property belonging to a person or an organization
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