asset_2
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admitted asset
: an asset allowed by law to be included in determining the financial condition of an insurance company compare nonadmitted asset in this entry
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appointive asset
: an asset in an estate that is to be distributed under a power of appointment
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capital asset
: a tangible or intangible long-term asset especially that is not regularly bought or sold as part of the owner's business
specifically
: any asset classified as a capital asset by law (as section 1221 of the Internal Revenue Code)
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current asset
: a short-term asset (as inventory, an account receivable, or a note) that can be quickly converted into cash
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equitable asset
: an asset especially in an estate that is subject to the payment of debts only in a court of equity
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fixed asset
: a tangible asset (as a piece of equipment) that is of a permanent or long-term nature
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intangible asset
: an asset (as goodwill or a patent) that does not have physical form
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marital asset
: an asset acquired by either spouse or both spouses during a marriage
Note: Marital assets are generally subject to equitable distribution on divorce.
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net assets
: the excess of assets over liabilities
called also net worth
: admitted assets considered as a whole
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net quick assets
: the excess of quick assets over current liabilities
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nonadmitted asset
: an asset not allowed by law to be included in determining the financial condition of an insurance company because it cannot be quickly converted into cash without incurring a loss compare admitted asset in this entry
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quick assets
: cash, accounts receivable, and other current assets except inventories
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tangible asset
: an asset that has physical form and is capable of being appraised at an actual or approximate value
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wasting asset
: property (as a copyright or oil well) that will eventually expire or be used up and lose its value
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