Definition of assets
Pronunciation
Noun
assets
- Plural form of asset.
- (finance) 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.
- (law) 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.
- Any goods or property properly available for the payment of a bankrupt's or a deceased person's obligations or debts.
References:
- Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.
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