assets
/ˈæsɛts/ noun
Also a form of asset
Forms asset
- noun (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.”
- noun (accounting) The left side of a balance sheet. “The assets must equal liabilities, otherwise there is an error in your balance sheet.”
- noun (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.
- noun Any goods or property properly available for the payment of a bankrupt's or a deceased person's obligations or debts.
- noun (slang, vulgar, usually in the plural) Private parts; a woman's breasts or buttocks, or a man's genitalia.
Etymology
From Anglo-Norman asetz, from Old French assez (“enough”). Originally singular, with the meaning "enough to meet liabilities"; later reanalyzed as a plural form.
Webster’s 1913
- noun (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. Blackstone.
- noun 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.
Etymology [OF. asez enough, F. assez, fr. L. ad + satis, akin to Gr. saps full. Cf. Assai, Satisfy.]
Sources: Wiktionary · Webster’s 1913 — from the Wiktionary entry “assets”, CC BY-SA 4.0. Details