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GLOSSARY
Canadian Financial, Real Estate and Mortgage Glossary
How often this word is used
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50% - Moderately
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
- asset case — Definition
- capital assets — Definition
- capital investments — Definition
- chattel — Definition
- fixture — Definition
- illiquid asset — Definition
- intangible asset — Definition
- intangible property — Definition
- liquid assets — Definition
- monetary value — Definition
- net interest margin (NIM) — Acronym
- personal property (PP) — Acronym
- policyholder surplus — Definition
- short-term capital loss — Definition
- sub account — Definition
- total admitted assets — Definition
- unaffiliated investments — Definition
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