SAP Financial Accounting (SAP FI) Practice Exam

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What are the two GL views available in SAP?

Basic and Advanced Views
Single and Combined Views
Entry and New GL Views
Overview and Detailed Views

The correct answer is: Entry and New GL Views

In SAP, the two primary General Ledger (GL) views available are the Entry View and the New GL View. The Entry View is utilized in classic accounting where all transactions are recorded, providing a straightforward perspective of the postings without any additional complexities. This view focuses on the basic financial data needed for everyday transactions. On the other hand, the New GL View offers a more sophisticated framework that comes with enhanced functionalities. This view enables parallel accounting, which allows for different accounting standards to be run simultaneously and supports more comprehensive financial reporting and analysis. It also incorporates dimensions such as segments and identifies the structures necessary for more complex accounting tasks. The classification into Entry and New GL Views clearly delineates the traditional approach from the innovative capabilities introduced in the New GL, reflecting the evolution of financial reporting systems in SAP. Other options do not accurately represent the established terminologies and functionalities related to GL views in SAP.