An asset is something which is immensely valuable, precious, and desired/coveted by individuals. It can also mean the topmost qualities or individuals at any concern, along with meaning something like property owned by an entity or individual that has value. In this case, it should be available for meeting all liabilities, commitments, legacies, inheritances, debts, and so on.
Assets are properties or other resources with financial/monetary value, belonging to any corporation, entity, individual, or the Government. It may also be owned with the expectation of a benefit in the future. Assets are reported on balance sheets of companies and could be fixed, financial, tangible, intangible, current and other types. Assets may generate cash flows in the future, or reduce liabilities, or take care of inheritance or debt resolution.
Asset automatically equates to real estate or property. This means actual properties including residential, commercial, industrial, agricultural and other types of properties, along with the income generated from them, if any. This also means shares/holdings/ownership shares in real estate investment trusts or consortiums. These assets include personal, actual and tangible immovable properties.
