Isn't it more useful to think of code not as an asset but as a liability? As in, instead of code being "produced", you "spend" lines of code when you solve a problem, i.e. "Getting X amount of business value cost us Y lines of code"?
As for the phrase "technical debt": While I like the metaphor, in my experience, most people use it as a synonym for "bad code", so I recommend making sure everyone agrees on the same definition before using it.
As for the phrase "technical debt": While I like the metaphor, in my experience, most people use it as a synonym for "bad code", so I recommend making sure everyone agrees on the same definition before using it.