Do absolute paths always point to remote files or assets?
No. Absolute paths may also be used to point to local files or assets. However, when linking to local files it generally makes more sense to store files or assets within the project directory itself and then use a relative path to point to it. To learn more about paths, check out this StackExchange thread.
For even more info, check out the following resources:
An asset would be anything that is owned by the site or site owner. It is not something acquired under license such as software from a vendor, eg. React, Redux, Angular, jQuery, etc. We don’t own those, but only have permission to use them.
Stock photos, for instance, are not assets, nor anything that we did not produce ourselves or in-house by paid staff.
Yes, a company logo would qualify as an asset. This is really just a general term. I am giving it added meaning, aka, ownership, which includes proprietary software built by you or your employees, or purchased with ownership title. It’s splitting hairs.
Loosely, the assets folder could be anything that the site requires to render pages. There are no hard and fast rules for the way one organizes site resources. Separating them by their mime type is one way.
Just keep it simple enough so that it can be consistently applied as the site grows.