Asset

Asset means:
anything owned that has value; any interest in real property or personal property that can be used for payment of debts. Assets are listed on Schedule L of the corporate tax return.

See Corporate Tax in the U.S. Legal Encyclopedia and Corporate Tax in the International Legal Encyclopedia.

Description and Definition of Asset

Anything owned by an individual or a business, which has cash, commercial, or exchange value. Assets may consist of specific property or claims against others.

Resources

See Also

Further Reading

• Asset in the West's Tax Law Dictionary
• Asset in “A Dictionary of Taxation”