Meaning of Assets

[angie]

Test No. incompl/advan-9 "Finance (1)", question 9

When someone dies and their ......... reach a certain figure, their family has to pay an additional tax.

(a) profits
(b) wealth
(c) assets
(d) products

Test No. incompl/advan-9 "Finance (1)", answer 9

When someone dies and their assets reach a certain figure, their family has to pay an additional tax.

Correct answer: (c) assets

Your answer was: incorrect
When someone dies and their profits reach a certain figure, their family has to pay an additional tax.
_________________________

assets is like money?

angie

[Torsten]

A company's assests are all the items on a blance sheet such as premises, vehicles, intellectual properties (copy righted materials, patents, trade marks, logos, etc.), cash reserves, computer equipment etc.

TOEFL listening lectures: A university lecture on American social history

[tito]

[tito]

[Kati Svaby]

[usually plural]
1.a thing of value, especially property, that a person or company owns, which can be used or sold to pay debts
2.the net asset value of the company
-Her assets include shares in the company and a house in France.
asset sales/management
3.ncome from fixed asset investments
financial/capital assets
to freeze a country's assets
4. ASSETS can be the inheritance that you receive from somebody when they die; the fact of receiving something when somebody dies
_________________
Don't walk behind me; I may not lead. Don't walk in front of me; I may not follow. Just walk beside me and be my friend.

[Our Tort System]

You left out one very important meaning:
http://www.urbandictionary.com/define.php?term=assets
_________________
"He who tries to establish his point by much yelling shows that his reasoning is weak"
-Jodi Ann Arias

[Kati Svaby]

What a surprise! I opened the link and you sent me these expressions:
A person's body, as in boobs, butt, hips, etc.
-Damn, that girl has some nice assets!

Many thanks. I have to say to you that I didn't enumerate every meaning of assets. I omitted those ones who didn't connect this sentence.
here are what I omitted:
assets - anything of material value or usefulness that is owned by a person or company
-possession - anything owned or possessed
-plural, plural form - the form of a word that is used to denote more than one
share, percentage, portion, part - assets belonging to or due to or contributed by an individual person or group; "he wanted his share in cash"
-tax base - collective value of taxable assets
-receivables - money that you currently expect to receive from notes or accounts
-crown jewel - the most desirable assets of a corporation; "their crown jewels figured prominently in the takeover attempt"
-deep pocket - a source of substantial wealth (usually plural); "a patron of the arts should have deep pockets"
-reserve assets - capital held back from investment in order to meet probable or possible demands
-amount, amount of money, sum, sum of money - a quantity of money; "he borrowed a large sum"; "the amount he had in cash was insufficient"
-resource - available source of wealth; a new or reserve supply that can be drawn upon when needed
-intangible, intangible asset - assets that are saleable though not material or physical
current assets, liquid assets, quick assets - assets in the form of cash (or easily convertible into cash)
-investment funds, investment - money that is invested with an expectation of profit
equity - the difference between the market value of a property and the claims held against it
-security, protection - defense against financial failure; financial independence; "his pension gave him security in his old age"; "insurance provided protection against loss of wages due to illness"
-material resource - assets in the form of material possessions
-capital - wealth in the form of money or property owned by a person or business and human resources of economic value
-capital, working capital - assets available for use in the production of further assets
-cash in hand, finances, funds, monetary resource, pecuniary resource - assets in the form of money
-hole card - any assets that are concealed until they can be used advantageously
-credit - money available for a client to borrow
-overage - a surplus or excess of money or merchandise that is actually on hand and that exceeds expectations
-accounts receivable - a creditor's accounts of money owed to him; normally arise from the sale of products or services

xxxxx
As the example was:
When someone dies and their ......... reach a certain figure, their family has to pay an additional tax.

I 've looked for the English explanation of assets when someone dies, and the heirs inherit his/her goods. It is normal , in Hungary also. As I found this definition only in Hungarian I have to make this sentence:ASSETS can be the inheritance that you receive from somebody when they die;
For the inherited assets we have to pay death-tax/inheritance-tax/legacy-duty./probate-duty or quot.

Not everybody can live in The big apple.
_________________
Don't walk behind me; I may not lead. Don't walk in front of me; I may not follow. Just walk beside me and be my friend.

[Kati Svaby]

Hello Torsten,

I was thinking of Tort's letter and I found out he thought that I am an eager-beaver who explains things what my teachers had explained. No. The Hungarian language has so lot of differences from other languages that's why I write things from Hungarian point of view. I see that I don't cause damage to anybody at most for another Hungarian student I helped. For example assets in Hungarian means assets till his proprietor lives. When he dies it isn't assets but "hagyaték" (NACHLASS) in Germain. I 've found the next ones:

[Kati Svaby]

Hello Torsten
What I didn't find in the English-Hungarian and English Oxford Dictionary I found in the German-English dictionary. I would have wondered if there hadn't been a special English word for this concept.
Vermächtnis (n) =bequest/legacy
Verlassenschaft =estate (Austria)
Nachlass (m) =estate Preis
Hinterlassenschaft (f)=bequeathment
Erbschaft (f ) =heritage /inheritance

Let's see in English
bequest (n)
bɪˈkwest bɪˈkwest
(formal)

money or property that you ask to be given to a particular person when you die
-He left a bequest to each of his grandchildren.

legacy (n)
ˈleɡəsi ˈleɡəsi

plural legacies
money or property that is given to you by somebody when they die
SYNONYM inheritance
They each received a legacy of $5000.

bequeath VERB
bɪˈkwiːð bɪˈkwiːð
(formal)

1
to say in a will that you want somebody to have your property, money, etc. after you die
SYNONYM leave
bequeath something (to somebody) He bequeathed his entire estate (= all his money and property) to his daughter.
bequeath somebody something He bequeathed his daughter his entire estate.

inheritance NOUN
ɪnˈherɪtəns ɪnˈherɪtəns

1 [countable, uncountable]
the money, property, etc. that you receive from somebody when they die; the fact of receiving something when somebody dies
She spent all her inheritance in a year.
The title passes by inheritance to the eldest son.
She came into (= received) her inheritance at eighteen.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

heritage NOUN
ˈherɪtɪdʒ ˈherɪtɪdʒ
[usually singular]

the history, traditions and qualities that a country or society has had for many years and that are considered an important part of its character
Spain's rich cultural heritage
The building is part of our national heritage.

Regards:
Kati Svaby
_________________
Don't walk behind me; I may not lead. Don't walk in front of me; I may not follow. Just walk beside me and be my friend.