Definition
Assets are anything that a person or a company owns that has value and can provide future benefits. Assets can include cash, property, investments, or anything that can be converted into money.
Example
A person's house, car, bank savings, and investments in stocks are all considered assets because they have value and can be used or sold in the future.
Caution
Not all assets can be converted into cash quickly. Some assets, such as property, may take time to sell. Additionally, the value of assets can increase or decrease depending on market conditions.