Webster's English Dictionary

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asset

as.set \'as-.et\ n [back-formation fr. assets, sing., sufficient property 
   to pay debts and l]egacies, fr. AF asetz, fr. OF assez enough, fr. 
   (assumed) VL ad satis, fr. L ad to + satis enough - more at AT, SAD pl  1a: 
   the property of a deceased person subject by law to the payment of his or 
   its debts 2: ADVANTAGE, RESOURCE  pl  3: the items on a balance sheet 
   showing the book value of property owned