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An asset is a resource with economic value that can be thought of as an item that in the future can generate income and/or reduce expenses. Some personal assets are real estate, automobiles, jewelry, stocks, bonds, as well as certain life insurance. An intangible asset is an asset that isn’t of a physical nature. This would consist of knowledge, intellectual property, goodwill and brand recognition.
For further reading:
- Investorwords.com: Asset Definition – http://www.investorwords.com/273/asset.html
- Investopedia.com: Asset Definition – www.investopedia.com/terms/a/asset.asp