asset

1 :  someone or something that provides a benefit Your sense of humor is an asset. She is an asset to the class.

2 assets plural :  all the property belonging to a person or an organization

1 :  the entire property of a person, business organization, or estate that is subject to the payment of debts —used in plural — 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 Editor's note: Marital assets are generally subject to equitable distribution on divorce. net assets 1 :  the excess of assets over liabilities —called also net worth 2 :  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