Main Entry: as·set

Pronunciation: \ˈa-ˌset also -sət\

Function: noun

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

Date: 1531

1 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>
3 a : an item of value owned b 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: as a : a piece of military equipment b : spy