The term 'USEFUL ITEM' can be broken down into three crossword solutions: ASSET (5 letters), TOOL (4 letters), and GADGET (6 letters). An ASSET is an item of value that can be owned or controlled to produce positive value. A TOOL is an object used to perform a task, such as a hammer or saw. A GADGET is a small device or machine with a specific purpose, such as a kitchen appliance or electronic device. All three of these terms refer to items that are useful in some way.