assets
noun/ˈæsɛts/
Etymology From Anglo-Norman asetz, from Old French assez (“enough”). Originally singular, with the meaning "enough to meet liabilities"; later reanalyzed as a plural form.
Business, Finance Plural normally Any property or object of value that one possesses, usually considered as applicable to the payment of one's debts.
- His assets are much greater than his liabilities.
Accounting, Business, Finance Plural normally The left side of a balance sheet.
- The assets must equal liabilities, otherwise there is an error in your balance sheet.
Law Plural normally Sufficient estate; property sufficient in the hands of an executor or heir to pay the debts or legacies of the testator or ancestor to satisfy claims against it.
Plural normally Any goods or property properly available for the payment of a bankrupt's or a deceased person's obligations or debts.
Plural normally, Slang, Vulgar Private parts; a woman's breasts or buttocks, or a man's genitalia.
- Derived terms
- swollen assets theory