asset
Definition
Something valuable that an entity owns, benefits from, or has use of, in generating income. In accounting, an asset is something an entity has acquired or purchased, and which has money value (its cost, book value, market value, or residual value). An asset can be (1) something physical, such as cash, machinery, inventory, land and building, (2) an enforceable claim against others, such as accounts receivable, (3) right, such as copyright, patent, trademark, or (4) an assumption, such as goodwill. Assets shown on their owner's balance sheet are usually classified according to the ease with which they can be converted into cash. See also intangible assets and tangible assets.
asset is in the Accounting & Auditing, Banking, Commerce & Finance and Investing subjects.
asset appears in the definitions of the following terms:
investment property,
knock-out option,
debenture,
overreaching,
certificate of ownership,
letter of leniency,
worst of two option,
nominal account,
trustee,
intergenerational equity
and
This content can be found on the following page:
http://www.businessdictionary.com/definition/asset.html
email to a friend print this definition cite this definition