Define assets?

Assets are resources or properties owned by an individual, organization, or entity that have economic value and can be used to generate income or provide future benefits. Examples of assets include cash, investments, real estate, vehicles, equipment, inventory, patents, trademarks, and accounts receivable. Assets are typically recorded on a balance sheet and are categorized as current assets (expected to be converted into cash within one year) or non-current assets (expected to provide benefits beyond one year).