What Does Assets Means?

An asset is a piece of property that is owned by an entity and can be cash, receivables, stocks, bonds and similar investments such a gold and other precious or marketable material, furniture, fixtures, equipment, autos and trucks, intangibles such as patents, trademarks and organization costs.

Definition of Asset is a useful or valuable quality, person, or thing; an advantage or resource. It can be any item of economic value owned by an individual or corporation.
The term Asset is used mostly in its Accounting definition, The entries on a balance sheet showing all tangible and intangible properties, Assets can include cash,
stock, inventories, property rights, and goodwill.
Asset word also refers to a very valuable person or organization e.g., Mother Teresa is a precious asset for humanity and Army is very valuable asset of any country.
Also Visit Asset Definition from Business Dictionary.