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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Asset


Synonyms:benefit, gain, important, value, worth
Filed Under: financial-banking, insurance, legal-contracts, mortgages
Tags: banking, contract, insurance, legal, mortgage
 

Definition of asset

asset
1. Any item or possession of monetary value that is legally owned by a person. Assets can include real or personal property, and enforceable claims against others including bank accounts, stocks, mutual funds, etc.

Related Terms and Acronyms:

  • adjusted basis   The amount you use to determine your profit or loss from a sale or exchange of property.
  • fixed assets (FA)   Assets like machinery, land, buildings, or property used in operating a business that will not be consumed or converted into cash during the current accounting period.
  • home equity (HE)   The part of a home's value that the mortgage borrower owns outright; the difference between the fair market value of the home and the principal balances of all mortgage loans.
  • non-liquid asset   A possession that can't be transformed readily into cash. Stocks and bonds are liquid assets because they can be sold easily; a house is a non-liquid asset because it takes time to sell.
  • protected cell company (SPC)   A company that separates its assets and liabilities into a number of 'cells' to shield itself and each 'cell' from losses.
  • secondary market   A market where financial instruments such as stocks, bonds, options and futures are bought and sold to investors.
  • segregated fund   Investment vehicles that feature both maturity and death guarantees. Segregated funds share similarities with mutual funds but are categorized as insurance products.
  • short-term capital gain (STCG)   Your gain from the sale of a capital asset that you held for one year or less.
  • solvency   To be able to meet one's financial liabilities in the short or long term.
  • trustee   A person who holds and manages assets for the benefit of beneficiaries.

More Related Terms and Acronyms

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