What term refers to items of value that you own, including money?

The term that refers to items of value that you own, including money, is assets. Assets encompass a wide range of items, such as cash, real estate, stocks, and personal property, which can all contribute to an individual's or organization’s total wealth. They are the resources that can be used to generate income or provide future benefits.

Understanding assets is crucial in both personal finance and business contexts because they represent the value that an individual or entity can leverage in financial transactions or investments. In personal finance, accurately assessing one’s assets can help in planning for future expenses, savings, and investments. In business, assets are vital as they indicate the company's overall health and capacity for growth, as they determine the potential for generating revenue.