BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Client
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Company Code
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Chart of Accounts
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Credit Control Area
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Detailed explanation-1: -A company code is the smallest organizational unit for which a complete, self-contained set of accounts can be drawn up. A company is the smallest organizational unit for which individual financial statements can be drawn up according to the relevant commercial law. A company can contain one or more company codes.
Detailed explanation-2: -Tcode for company code creation is – OX02. It is the first step of organization structure in the SAP framework. And thus, it is an inseparable part of SAP Financial Accounting.
Detailed explanation-3: -A Company Code is the smallest organizational unit after company, for which the standalone financial accounting’s profit and loss statements can be withdrawn. Many company codes can be assigned to one company. The following steps depict how to create a company code.
Detailed explanation-4: -It is used to structure the business organization from a financial accounting perspective. The company code is an organizational unit used in accounting. It is used to structure the business organization from a financial accounting perspective. SAP recommends that copy a company code from an existing company code.