2. Accounting: Something that an entity has acquired or purchased, and that 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.
Use 'asset' in a Sentence
Since the car was an asset that Joe owned, it was the first thing seized by the bank when he could not pay off his loans.
I told the hiring manager that due to my creativity and adaptability, I knew that I would be an important asset to the company.
She didn't realize the extent to which her math skills had been an asset to the chances of her being offered the job.
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