asset

Definition

Any item of economic value owned by an individual or corporation, especially that which could be converted to cash. Examples are cash, securities, accounts receivable, inventory, office equipment, real estate, a car, and other property.

On a balance sheet, assets are equal to the sum of

From an accounting perspective, assets are divided into the following categories:

See also:
 List of Key Accounting Terms and Definitions at InvestorGuide.com.

Use asset in a sentence

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