An asset is anything of monetary value owned by a person or company. This can include real property, personal property, stocks, mutual funds, and more. Assets are important because they can generate income or help offset financial liabilities. For example, a house can be rented out to generate income, or stocks can be sold to raise cash relatively fast.

Overall, assets are a key part of financial stability and security. By properly managing assets, individuals and businesses can ensure that they are in a good financial position now and in the future.