An assembly is the primary building block of a .NET Framework application. It is a collection of functionality that is built, versioned, and deployed as a single implementation unit (as one or more files). All managed types and resources are marked either as accessible only within their implementation unit, or as accessible by code outside that unit.
.NET Assembly contains all the metadata about the modules, types, and other elements it contains in the form of a “manifest.” The CLR loves assemblies because differing programming languages are just perfect for creating certain kinds of applications. For example, COBOL stands for Common Business-Oriented Language because it’s tailor-made for creating business apps. However, it’s not much good for creating drafting programs. Regardless of what language you used to create your modules, they can all work together within one Portable Executable Assembly.
There’s a hierarchy to the structure of .NET code. That hierarchy is “Assembly -> Module -> Type -> Method."
Assemblies can be static or dynamic. Static assemblies can include .NET Framework types (interfaces and classes), as well as resources for the assembly (bitmaps, JPEG files, resource files, and so on). Static assemblies are stored on disk in portable executable (PE) files. You can also use the .NET Framework to create dynamic assemblies, which are run directly from memory and are not saved to disk before execution. You can save dynamic assemblies to disk after they have executed.