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TeachMeFinance.com Asset -- A possession of value, usually measured in terms of money.
asset -- Anything that can generate cash. Examples
include accounts receivable (money customers owe you), inventory
(stock or merchandise), equipment (furniture, fixtures, machinery,
delivery trucks), and anything else that can generate cash.
Asset -- The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts.
asset -- anything owned by an individual or company that has commercial usefulness or value if sold. An asset may be physical property or items, or enforceable claims against others. Loans made by a thrift institution are assets of that institution. Assets also include real estate, equipment, cash, investments in stocks and bonds , and any other resource that can be converted into cash. See liability.
historic definition... Assets -- The entire property of a person, corporation or estate. For instance, the assets of an individual comprise all the property that he owns which is applicable to the payment of his debts, as "His assets exceed his liabilities." Property that is mortgaged or is otherwise encumbered is counted as an asset, but the debt that it secures must first be paid out of the proceeds of it. so that only the equity in it is available to apply in the liquidation or payment of unsecured debts or claims. The equity is the difference between the value of the property and the amount of the obligation (debt) to secure the payment of which the property is pledged. About the author
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