(a)Definitions. For purposes of this section, the following terms shall have the following meanings: (1) The term equity means: (i) any right or claim to assets; (ii) any interest in property or in a business, subject to claims of creditors; (iii) the difference between assets and liabilities; (iv) net worth. (2) The term asset means any owned physical object or any right having economic value to its owner or any item or source of wealth expressed, for accounting purposes, in terms of its cost, depreciated