Which of the Following Account Assignment Categories Is Used When

question 21

Multiple Choice

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

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Definitions:

Floor Plan

Financing method used by dealerships that allows them to have a stock of vehicles on their floors for sale; it is a type of short-term financing.

Commercial Paper

An unsecured, short-term debt instrument issued by a corporation, typically used for the financing of payroll, accounts payable, and inventories, and meeting other short-term liabilities.

Organizational Chart

A visual representation that details the structure of an organization, outlining roles, responsibilities, and relationships between various positions.

Cash Manager

A Cash Manager is a financial professional responsible for overseeing and managing the cash flow of a company to ensure optimal utilization and liquidity.