1. FIXED ASSET with limited life and subject to DEPRECIATION. It therefore excludes land.

2. natural resource such as oil, coal, and timber, having a limited useful life and subject to DEPLETION. Such assets decrease in worth primarily due to the extraction of the valued commodity held by these assets.

3. security whose value expires at a specified time in the future. An option contract (PUT or CALL) is an example of a wasting asset.