Asset

An asset can be defined as an item of value owned by an individual or business. Assets can be tangible, such as cash, land, and buildings, or intangible, such as intellectual property and goodwill. 

In accounting, assets are typically classified as current assets or non-current assets. Current assets are assets that are expected to be converted to cash or used within a year, such as inventory or accounts receivable. Non-current assets are assets that are expected to provide economic value for more than a year, such as real estate, equipment, and long-term investments.

In investing, assets are typically classified into different asset classes, based on their risk and return characteristics. Common asset classes include equities (stocks), fixed income (bonds), real estate, commodities, and alternative investments (such as hedge funds or private equity).