Activity type & not set up for cost center & &

What causes this issue?

You are attempting to assign activity type &V1& to the work center.
However, this activity type has not yet been set up in controlling area
&V2& for cost center &V3&.

How to fix this error?

Assign an activity type set up for cost center &V3& to the work
center or
assign the desired activity type to cost center &V3& within cost
center accounting.

Error message extract from SAP system. Copyright SAP SE.