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Glossary   >   A   >   "Asset" Definition            Asset Any possession that has value in an exchange. Anything that an individual or a corporation owns that has economic value to its owner. Asset is also a balance sheet item showing what a firm owns. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Asset \ Any possession that has value in an exchange.

Anything that an individual or a corporation owns that has economic value to its owner. Asset is also a balance sheet item showing what a firm owns.