Question : Codification of Accounts required for the purpose of:
Option 1: Hierarichal relationship between groups amd components
Option 2: Data Processing faster and preparing of final accounts
Option 3: Keeping data and information secured
Option 4: None of the above
Answer (1)
25th Jan, 2024
Correct Answer: Hierarichal relationship between groups amd components
Solution : Proper codification is needed to guarantee classification is clean and to retain the hierarchical links between a group and its subgroups/components.
Hence the correct answer is option 1.
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