ASSET

Any possession that has value in an exchange.

An owned physical item, i.e., Real Estate, equipment, buildings which have an assignable value, as well as economical resources of a business. Example: A business could also have a patent which was issued by the US Patent Office, the patent becoming a valuable asset to the business.

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Something of value that you own. Appreciating assets, such as stocks, have the potential of increasing in value and/or producing income. Depreciating assets, such as a car, lose value over time. Assets minus liabilities (what you owe) equals net worth.