{"id":1620,"date":"2024-01-25T10:49:28","date_gmt":"2024-01-25T15:49:28","guid":{"rendered":"https:\/\/sagestaging.wpengine.com\/en-us\/blog\/?post_type=sage_glossary&#038;p=1620"},"modified":"2025-08-05T09:03:49","modified_gmt":"2025-08-05T13:03:49","slug":"what-is-an-asset","status":"publish","type":"sage_glossary","link":"https:\/\/www.sage.com\/en-ca\/blog\/glossary\/what-is-an-asset\/","title":{"rendered":"What is an asset?"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ca\/blog\/glossary\/\" class=\"entry-header__link\">Glossary definition<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tWhat is an asset?\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"What is an asset?\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-ca\/blog\/glossary\/what-is-an-asset\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-jump-to\">Jump to:<\/h4>\n\n\n<?xml encoding=\"utf-8\" ?><div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><ul><li><a href=\"#h-what-is-an-asset-nbsp-nbsp\" data-level=\"2\">What is an asset?&nbsp; &nbsp;<\/a><\/li><li><a href=\"#h-assets-meaning-what-are-assets-nbsp\" data-level=\"2\">Assets meaning: What are assets? &nbsp;<\/a><\/li><li><a href=\"#h-types-of-assets\" data-level=\"2\">Types of assets<\/a><\/li><li><a href=\"#h-examples-of-assets\" data-level=\"2\">Examples of assets<\/a><\/li><li><a href=\"#h-importance-of-assets-in-accounting\" data-level=\"2\">Importance of assets in accounting<\/a><\/li><li><a href=\"#h-final-thoughts\" data-level=\"2\">Final thoughts<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-an-asset-nbsp-nbsp\"><strong>What is an asset?&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Whether you&#8217;re a seasoned investor, a business owner, or just someone curious about financial terminology, understanding what assets are and their role in accounting is crucial.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In any business, it is useful to understand what an asset is and the different types of you may deal with.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-assets-meaning-what-are-assets-nbsp\"><strong>Assets meaning: What are assets?<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">An asset is a resource with economic value that an individual, corporation, or country owns or controls, with the expectation that it will provide future benefits.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In simpler terms, assets are anything valuable that contributes to an entity&#8217;s wealth. They can be tangible, such as physical properties like real estate or machinery, or intangible, like patents, trademarks, or intellectual property.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-types-of-assets\"><strong>Types of assets<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Assets can be categorized into various types based on their nature and characteristics. The primary classifications include:&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Current assets<\/strong>\u2014short-term assets that can be easily converted into cash within a year. Examples include cash, <a href=\"https:\/\/www.sage.com\/en-ca\/accounting-software\/accounts-receivable\/\" target=\"_blank\" rel=\"noreferrer noopener\">accounts receivable<\/a>, and inventory.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Fixed assets<\/strong>\u2014also known as non-current or long-term assets, these are possessions held for long periods, usually to generate income. Real estate, machinery, and vehicles fall under this category.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Financial assets<\/strong>\u2014these represent ownership of a claim to the underlying physical or real assets. Stocks, bonds, and derivatives are examples of financial assets.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Intangible assets<\/strong>\u2014these lack physical substance but hold significant value. Examples include patents, copyrights, and trademarks.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-examples-of-assets\"><strong>Examples of assets<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Businesses may possess a diverse range of assets. The following list covers some of the most common examples:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cash: The most liquid asset.&nbsp;&nbsp;<\/li>\n\n\n\n<li>Real estate: Land, buildings, and other physical properties.&nbsp;<\/li>\n\n\n\n<li>Stocks: Ownership shares in a company.&nbsp;<\/li>\n\n\n\n<li>Bonds: Debt securities representing loans to corporations or governments.&nbsp;<\/li>\n\n\n\n<li>Vehicles: Cars, trucks, or any transportation.&nbsp;<\/li>\n\n\n\n<li>Equipment: Machinery and tools used in business operations.&nbsp;<\/li>\n\n\n\n<li>Intellectual property: Patents, copyrights, trademarks, and trade secrets.&nbsp;<\/li>\n\n\n\n<li>Accounts receivable: Money owed to a company by its customers.&nbsp;<\/li>\n\n\n\n<li>Inventory: Goods and products held for sale.&nbsp;<\/li>\n\n\n\n<li>Art and collectables: Valuable pieces of art, antiques, or collectable items.&nbsp;<\/li>\n\n\n\n<li>Precious metals: Gold, silver, or other high-value metals held.&nbsp;<\/li>\n\n\n\n<li>Cryptocurrencies: Digital or virtual currencies like Bitcoin and Ethereum.&nbsp;<\/li>\n\n\n\n<li>Franchise rights: Exclusive rights to operate a franchise business.&nbsp;<\/li>\n\n\n\n<li>Contracts and agreements: Agreements that provide future economic benefits.&nbsp;<\/li>\n\n\n\n<li>Loans receivable: Money lent to others with the expectation of repayment.&nbsp;<\/li>\n\n\n\n<li>Natural resources: Oil, gas, minerals, or other resources with economic value.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-importance-of-assets-in-accounting\"><strong>Importance of assets in accounting<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Assets play a pivotal role in financial accounting. They provide a snapshot of an entity&#8217;s financial health.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Financial health assessment:<\/strong> Assets serve as a key indicator of an entity&#8217;s financial stability and overall health. A healthy balance of current and long-term assets signifies a robust financial position.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Investor confidence:<\/strong> Investors often evaluate an organization&#8217;s assets to gauge its ability to generate returns. A company with valuable and diverse assets is more likely to attract investment.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Creditworthiness: <\/strong>Lenders assess a company&#8217;s assets when determining its creditworthiness. Assets can be used as collateral, providing security for loans.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Strategic decision-making:<\/strong> Business decisions, such as expansion or diversification, are influenced by the types and value of assets.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-final-thoughts\">Final thoughts<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In conclusion, assets are the building blocks of financial success, representing the bedrock of wealth for individuals and businesses alike. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Understanding their nature, types, and significance in accounting is essential for making informed financial decisions and fostering economic growth.&nbsp;<\/p>\n\n<section class=\"more-topics alignfull has-grey-light-background-color wp-block-sage-post-topics\">\n\t<div class=\"container\">\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col col-12 col-lg-4\">\n\t\t\t\t<h3 class=\"more-topics__title h2\">Browse more topics from this term<\/h3>\n\t\t\t<\/div>\n\t\t\t<div class=\"col col-12 col-lg-8\">\n\t\t\t\t<ul class=\"post-tags__list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ca\/blog\/tag\/accounting-101\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tAccounting 101\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ca\/blog\/tag\/business-finances\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tbusiness finances\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ca\/blog\/tag\/business-management\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tbusiness management\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<div class=\"alignfull wp-block-sage-related-posts\">\n\t<section class=\"related-posts card-grid has-dark-background-color\">\n\t<div class=\"container\">\n\t\t\t\t\t<div class=\"row\">\n\t\t\t\t<div class=\"col\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--featured h1\">Explore more wisdom<\/h2>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"row related-posts__featured\">\n\t\t\t\t<div class=\"col card-grid__item\">\n\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-0 post-15065 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-accounting-101 tag-bookkeeping tag-business-finances tag-small-business business_type-small-business card-post--is-clickable\"\n>\n\t<div class=\"card-post__media-wrapper\">\n\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1214\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0771-e1731320383828-1214x810.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0771-e1731320383828-684x384.jpg 684w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0771-e1731320383828-768x512.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0771-e1731320383828-1214x810.jpg 1214w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"card-post__content\">\n\t\t\t\t\t<div class=\"card-post__label\">Recommended<\/div>\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-09-22T12:15:26-04:00\">September 22, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">9 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h3\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\tclass=\"card-post__title-link\"\n\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/what-is-a-general-ledger\/\"\n\t\t\t\t>\n\t\t\t\n\t\t\tWhat is a general ledger in accounting? 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Here&#8217;s what it is, how it works, and how to read one with confidence, whether you&#8217;re doing the books by hand or with software.\t\t\t<\/p>\n\t\t\n\t\t\t<\/div>\n\n\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t<div class=\"row related-posts__non-featured\">\n\t\t\t\t<div class=\"col col-12\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--more h4\">More on this Topic<\/h2>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-1 post-15058 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-accounting-101 tag-bookkeeping tag-business-finances tag-cash-flow tag-cfo business_type-small-business business_type-medium-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/what-is-cash-basis-accounting\/\"\n\t\t\t\t\t>\n\t\t\t<figure 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tag-bookkeeping tag-business-continuity tag-business-finances tag-cash-flow tag-expenses tag-small-business business_type-small-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/how-to-track-business-expenses\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-939019528-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-939019528-684x384.jpg 684w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-939019528-768x432.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-939019528-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-09-15T12:14:22-04:00\">September 15, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">14 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tHow to keep track of business expenses\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-4 post-15010 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-accounting-101 tag-bookkeeping tag-business-continuity tag-business-finances tag-cash-flow tag-small-business business_type-small-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/deposits-in-transit-bank-reconciliation\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2025\/10\/fund-accounting-for-nonprofits-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2025\/10\/fund-accounting-for-nonprofits-684x384.jpg 684w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2025\/10\/fund-accounting-for-nonprofits-768x512.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2025\/10\/fund-accounting-for-nonprofits.jpg 1200w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-09-15T06:42:38-04:00\">September 15, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">13 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tWhat are deposits in transit and why are they included in a bank reconciliation?\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Jump to: What is an asset?&nbsp;&nbsp; Whether you&#8217;re a seasoned investor, a business owner, or just someone curious about financial terminology, understanding what assets are and their role in accounting is crucial.&nbsp;&nbsp; In any business, it is useful to understand what an asset is and the different types of you may deal with.&nbsp; Assets meaning: [&hellip;]<\/p>\n","protected":false},"author":1762,"featured_media":0,"template":"","meta":{"_sage_video":false,"footnotes":""},"tags":[162,266,168],"class_list":["post-1620","sage_glossary","type-sage_glossary","status-publish","hentry","tag-accounting-101","tag-business-finances","tag-business-management"],"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice Canada English","distributor_original_site_url":"https:\/\/www.sage.com\/en-ca\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/sage_glossary\/1620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/sage_glossary"}],"about":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/types\/sage_glossary"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/users\/1762"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/sage_glossary\/1620\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/media?parent=1620"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/tags?post=1620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}