You are the purchase manager of an organization.

You are the purchase manager of an organization. You purchase a laptop for your office for $2,000. You plan to create a purchase order and acquire the new fixed asset through the purchase order at time of invoicing.

You set up the system as follows: Fixed assets are automatically created during product receipt or vendor invoice posting and the capitalization threshold for the computers group (COMP) is set to $1,600.

You need to automatically create a fixed asset record when you post an acquisition transaction for the asset after you post the invoice.

How should you configure the fixed asset parameters to meet the criteria? To answer, select the appropriate option in the answer area.

NOTE: Each correct selection is worth one point.