Which of the following account assignment categories is used when the company acquires a fixed asset?
A)Cost center
B)Asset
C)Order
D)Sales order
E)Project

Question

Quizplus · Accepted Answer

The account assignment category used when acquiring a fixed asset is "Asset". This is because fixed assets are recorded as capital expenditures and need to be capitalized on the company's balance sheet.

Which of the Following Account Assignment Categories Is Used When