Assets vs. Liabilities

Assetsnoun

plural of asset

Assetsnoun

(finance) Any property or object of value that one possesses, usually considered as applicable to the payment of one's debts.

Assetsnoun

(legal) 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.

Assetsnoun

Any goods or property properly available for the payment of a bankrupt's or a deceased person's obligations or debts.

Assetsnoun

Private parts; a woman's breasts or buttocks, or a man's genitalia.

Assets

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.

Assets

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.

Assetsnoun

anything of material value or usefulness

Liabilitiesnoun

(finance) An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments.

Liabilitiesnoun

(accounting) The right side of a balance sheet.

Liabilitiesnoun

anything that is owed to someone else