Main Entry:: as·set
Pronunciation:: \ˈa-ˌset also -sət\
Function:: noun
Etymology:: back-formation from assets, singular, sufficient property to pay debts and legacies, from Anglo-French assetz, from asez enough, from Vulgar Latin *ad satis, from Latin ad to + satis enough — more at at, sad
Date:: 1531

1plural a: the property of a deceased person subject by law to the payment of his or her debts and legacies b: the entire property of a person, association, corporation, or estate applicable or subject to the payment of debts2: advantage , resource <his wit is his chief asset>3 a: an item of value owned bplural : the items on a balance sheet showing the book value of property owned4: something useful in an effort to foil or defeat an enemy: as a: a piece of military equipment b: spy

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