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Asset
A resource owned by an individual or organization that has economic value, such as cash, investments, and property.
More Details
An asset is anything that has value and can be owned. In the context of personal finance, assets are typically things that can be converted into cash and used to generate income or wealth.
Example
If you have cash, stocks, bonds, real estate, or any other investments, these are examples of your assets.
Related Terms
Canceled Check
A physical check that has been paid by the bank and cannot be used again. It may be returned to the payer with their bank statement.
Trust
A legal arrangement in which one party transfers ownership of property to another person or entity to be managed for the benefit of a third party.
Clearing House
An institution that processes financial transactions, such as the exchange of securities, between two parties.