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English Dictionary: assets by the DICT Development Group
2 results for assets
From WordNet (r) 3.0 (2006) [wn]:
  1. anything of material value or usefulness that is owned by a person or company
From Webster's Revised Unabridged Dictionary (1913) [web1913]:
   Assets \As"sets\, n. pl. [OF. asez enough, F. assez, fr. L. ad +
      satis, akin to Gr. [?] enough, Goth. saps full. Cf. {Assai},
      1. (Law)
            (a) Property of a deceased person, subject by law to the
                  payment of his debts and legacies; -- called assets
                  because sufficient to render the executor or
                  administrator liable to the creditors and legatees, so
                  far as such goods or estate may extend. --Story.
            (b) Effects of an insolvent debtor or bankrupt, applicable
                  to the payment of debts.
      2. The entire property of all sorts, belonging to a person, a
            corporation, or an estate; as, the assets of a merchant or
            a trading association; -- opposed to {liabilities}.
      Note: In balancing accounts the assets are put on the Cr.
               side and the debts on the Dr. side.
No guarantee of accuracy or completeness!
©TU Chemnitz, 2006-2019
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