Assets
Things of value owned by a person or business, such as cash, property, vehicles, equipment, investments or money owed by customers.
Related terms
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Net assets
The value remaining after total liabilities are deducted from total assets.
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Realisation of assets
The sale, collection or conversion of assets into cash so the proceeds can be applied to debts or distributed in an insolvency.
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Equity
The value left in an asset after deducting secured borrowing or other charges against it. With property, it is broadly the property value minus secured mortgage debt.
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