Question no : 470 FI Chart of Accounts

TERP10 Quiz Unit 12 Financials Accounting

Which of the following statement is TRUE regarding the Chart of Accounts ? 

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I)       Several companies can be assigned with the same Chart of Accounts.
II)      A Chart of Accounts must be assigned to a company code. 
III)     The 2 segments of a G/L account are the COA segment and company code segment. 
IV)     A G/L account can only be either a P&L account or a Balances Sheet account.

A)      I, II.

B)      II, III.

C)      I, IV.

D)      I, II, III.

E)      I, II, III, IV.

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