I. ˈaˌset, ˈaaˌ- sometimes _sə̇t; usu -d.+V noun
( -s )
Etymology: back-formation from assets, singular, sufficient property to pay debts and legacies, from Anglo-French asetz, from Old French asez, assez enough, from (assumed) Vulgar Latin ad satis, from Latin ad to + satis enough — more at at , sad
1. assets plural
a.
(1) : the property of a deceased person that in the hands of his heir or executor is sufficient to pay his debts and legacies
(2) : the property of a deceased person subject by law to the payment of his debts and legacies
b. : the entire property of all sorts of an insolvent or bankrupt or of a person, association, corporation, or estate applicable or subject to the payment of his or its debts
2. : a quality, condition, or entity that serves as an advantage, support, resource, or source of strength
wit, a good deal of shrewd classical allusion, and a Voltairean satire are the book's assets — Edmumd Fuller
a college degree is considered a valuable asset for the beginner — A.W.McCain
he was a most useful asset when it came to practical affairs — J.D.Beresford
3.
a. : an item of value owned
b. assets plural : the series of items on a balance sheet representing the book values at a given date of resources, rights, or items of property owned grouped under appropriate headings according to their nature — see capital assets , cash assets , current assets , fixed assets , net assets ; intangible II, tangible II
II. noun
: something useful in an effort to foil or defeat an enemy: as
a. : a piece of military equipment
b. : spy