Assets

[æsets]

Definition

(noun.) anything of material value or usefulness that is owned by a person or company.

Edited by Gene--From WordNet

Definition

(n. pl.) 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.

(n. pl.) Effects of an insolvent debtor or bankrupt, applicable to the payment of debts.

(n. pl.) 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.

Edited by Clio

Synonyms and Synonymous

n. pl. Property (particularly as compared with liabilities), effects, possessions, estate.

Edited by Charlene

Synonyms and Antonyms

SYN:goods, proceeds, possessions, effects, property

ANT:Debts, liabilities

Edited by Cathryn

Definition

n.pl. the property of a deceased or insolvent person considered as chargeable for all debts &c.: the entire property of all sorts belonging to a merchant or to a trading association.

Typist: Robbie