different between income vs assets

English

Etymology

From Middle English income, perhaps continuing (in altered form) Old English incyme (“an in-coming, entrance”), equivalent to in- +? come. Cognate with Dutch inkomen (“income, earnings, gainings”), German Einkommen (“income, earnings, competence”), Icelandic innkváma (“income”), Danish indkomst (“income”), Swedish inkomst (“income”).

Pronunciation

• IPA^(key): /??n?k?m/

Noun

income (countable and uncountable, plural incomes)

1. Money one earns by working or by capitalising on the work of others.
   • 2010 Dec. 4, Evan Thomas, "Why It’s Time to Worry", Newsweek (retrieved 16 June 2013):

     In 1970 the richest 1 percent made 9 percent of the nation’s income; now that top slice makes closer to 25 percent.
2. (business, commerce) Money coming in to a fund, account, or policy.
3. (obsolete) A coming in; arrival; entrance; introduction.
   • 1667, George Rust, A Funeral Sermon, preached at the obsequies of […] Jeremy Lord Bishop of Down

     more abundant incomes of light and strength from God
4. (archaic or dialectal, Scotland) A newcomer or arrival; an incomer.
5. (obsolete) An entrance-fee.
6. (archaic) A coming in as by influx or inspiration, hence, an inspired quality or characteristic, as courage or zeal; an inflowing principle.
7. (Britain dialectal, Scotland) A disease or ailment without known or apparent cause, as distinguished from one induced by accident or contagion; an oncome.
8. That which is taken into the body as food; the ingesta; sometimes restricted to the nutritive, or digestible, portion of the food.

Antonyms

• (money coming in): outgo

Derived terms

Translations

Anagrams

• come in

English

Pronunciation

• IPA^(key): /?æsets/

Noun

assets

1. plural of asset

Noun

assets pl (normally plural, singular asset)

1. (finance) Any property or object of value that one possesses, usually considered as applicable to the payment of one's debts.

   His assets are much greater than his liabilities.

2. (accounting) The left side of a balance sheet.

   The assets must equal liabilities, otherwise there is an error in your balance sheet.

3. (law) Sufficient estate; property sufficient in the hands of an executor or heir to pay the debts or legacies of the testator or ancestor to satisfy claims against it.
4. Any goods or property properly available for the payment of a bankrupt's or a deceased person's obligations or debts.
5. (slang, vulgar, usually in the plural) Private parts; a woman's breasts or buttocks, or a man's genitalia.

Translations

Anagrams

• TESSAs, stases, tasses

Danish

Noun

assets n

1. definite genitive singular of as

Swedish

Noun

assets

1. definite genitive singular of ass