Asset

Any object. tangible or intangible, that is of value to its possessor. In most cases it either is cash or can be turned into cash; exceptions include prepay­ments. which may represent payments made for rent, rates, or motor licenses. in cases in which the time paid for has not yet expired. Tangible assets include land and buildings, plant and machinery, fixtures and fittings, trading stock investments, debtors, and cast, intangible assets include goodwill, patents, copy­ rights, and trademarks. See also DEFERRED ASSET.