DEFINITION
An asset is an item owned by a person or company. Assets have a present or future value and are available to meet debts, commitments, or legacies.
Assets owned by a person are referred to as “Personal Assets”.
Common Examples of Personal Assets
- Stokvel funds, Money Market Accounts, Cash
- Property or land
- Livestock (e.g. cattle, sheep)
- Furniture, Jewellery, Cars
- Pensions, Shares, Life Insurance Policies, Government Bonds
Information Source:
Oxford Languages
https://languages.oup.com/google-dictionary-en/
