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more about assets
assets |
1 definition found From Webster's Revised Unabridged Dictionary (1913) [web1913]: Assets \As"sets\, n. pl [OF. asez enough, F. assez, fr L. ad + satis, akin to Gr ? enough, Goth. saps full. Cf {Assai}, {Satisfy}.] 1. (Law) 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. b Effects of an insolvent debtor or bankrupt, applicable to the payment of debts. 2. 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}. Note: In balancing accounts the assets are put on the Cr side and the debts on the Dr side
more about assets