Glossary

An asset is something of value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefits. 💰

Assets can be tangible, like property, vehicles, or machinery, or intangible, such as intellectual property, patents, or goodwill.

Examples of assets include cash, stocks, bonds, real estate, and even collectibles like artwork or rare stamps.

Fun fact: The word "asset" comes from the Old French term "asetz," which means "enough" or "sufficient". 📚 In finance, assets are considered valuable resources that can help an individual or business meet its financial goals, making them "sufficient" for generating income, reducing liabilities, or enhancing overall net worth.