Que Nav QUESTION: 37 OF 40 2m 09 When setting up your Chart of Accounts to track fixed asset activity, you establish accounts to record Fixed Assets and Depreciation Expenses. Do you need to establish any other accounts, and if so, what type? Select the single best answer: A. No, all you need is a Fixed Assets account and a Depreciation Expense account B. Yes, you also need to establish an Accumulated Depreciation account C. Yes, you also need to establish an Amortization Expense account. D. Yes, you also need to establish a Cost of Assets account E. Yes, you need to add another account, but it is not listed here. 5000006 Previous Question Next Question Que Nav QUESTION: 37 OF 40 2m 09 When setting up your Chart of Accounts to track fixed asset activity, you establish accounts to record Fixed Assets and Depreciation Expenses. Do you need to establish any other accounts, and if so, what type? Select the single best answer: A. No, all you need is a Fixed Assets account and a Depreciation Expense account B. Yes, you also need to establish an Accumulated Depreciation account C. Yes, you also need to establish an Amortization Expense account. D. Yes, you also need to establish a Cost of Assets account E. Yes, you need to add another account, but it is not listed here. 5000006 Previous Question Next Question