Asset Definition

Generally, any property that has value, whether monetary or sentimental. As used by the IRS, the term means any property with a value and useful life of at least one year that is used in a trade or business -- for example, machinery, buildings, vehicles, equipment, patents, and money held by or owed to a business. (See also: capital asset, hidden asset, depreciable asset, fixed asset, liquid asset)

Asset

Generally, any property that has value, whether monetary or sentimental. As used by the IRS, the term means any property with a value and useful life of at least one year that is used in a trade or business -- for example, machinery, buildings, vehicles, equipment, patents, and money held by or owed to a business. (See also: capital asset, hidden asset, depreciable asset, fixed asset, liquid asset)