SAP Financial Accounting (SAP FI) Practice Exam

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Which components make up a complete General Ledger (GL) account?

Chart of accounts segment only
Company code segment only
Chart of accounts and company code segments
Account group segment only

The correct answer is: Chart of accounts and company code segments

A complete General Ledger (GL) account in SAP is defined by both the chart of accounts segment and the company code segment. The chart of accounts segment provides a universal structure that applies to all company codes within the organization. It defines the account's basic characteristics, such as the account type, account number, and descriptions that are standard across the entire organization. On the other hand, the company code segment ensures that the GL account is tailored to specific activities related to a particular legal entity or company code within the organization. This segment includes details such as the currency in which the account will be managed, fiscal year variant, and other controls necessary for financial reporting and operations within that code. Together, these segments provide a comprehensive framework that enables accurate and flexible financial accounting, reporting, and compliance within the SAP system. Without both components, a GL account would not be fully functional or compliant with the necessary accounting regulations. Therefore, recognizing the interplay between the chart of accounts and company code segments is critical for effectively managing financial data within SAP FI.