SAP Financial Accounting (SAP FI) Practice Exam

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What is a function of account groups for G/L accounts?

Establish budget limits
Define screen layout and field status
Create new financial statements
Manage transaction types

The correct answer is: Define screen layout and field status

The function of account groups for General Ledger (G/L) accounts lies primarily in their ability to define the screen layout and field status for the accounts. This is essential because it allows for the customization of how data is entered and displayed for various categories of accounts. By determining which fields are mandatory, optional, or suppressed, account groups ensure that users only interact with relevant data according to specific financial needs. This tailored approach helps streamline data entry processes and reduces the risk of errors. In contrast, establishing budget limits, creating new financial statements, and managing transaction types are functionalities that are associated with broader financial management and accounting processes, rather than being specific tasks performed by account groups in the G/L account context.