Assets
/ˈæsɛts/
nounIntermediateVery CommonBusiness
Meaning
Questions
Definitions
1
Useful or valuable possessions, property, or resources.
/ˈæsɛts/
nounneutralIntermediate
Business
Something valuable owned by a person or company.
His biggest assets were his intelligence and drive.
💡 Simply: Things you own that are worth money.
More Examples
2
The company's assets far outweigh its liabilities.
How It's Used
Finance
"The company's assets include buildings, equipment, and intellectual property."
Accounting
"We need to list all our assets on the balance sheet."
From Old French 'assetz', meaning 'enough', from 'asseoir' (to sit). Originally referred to sufficient property to cover liabilities; the modern meaning evolved.
The word's usage in finance became prominent in the 17th century.
Memory tip
Think of 'a set' of valuable things.
Practice
asetsassettsaasets
Usage
20%Spoken
80%Written