Which is true about Code of Accounts?

Submitted by jason on Fri, 08/22/2008 - 06:30.

hi friends,

the choices are:

a. it allows one to easily identify the breakdown level of the item in the resource structure.  

b. it describes the coding structure used by the performing organization to report financial information in its general ledger.

c. It is the collection of unique identifiers generally assigned to wbs items.

d. it defines ethical behavior in the project.

 

The answer is  [c] but I am not sure why is a and b wrong?

Does the code of accounts not tell us the level of the wbs item in the wbs?

Does the code of account not related to the chart of accounts?

 

regards

Moranz


‹ who is the negotiator ? use of earned value ›

Hi  Since code of

Submitted by admin on Fri, 08/22/2008 - 12:15.

Hi

 Since code of accounts is w.r.t. WBS a and b are worng, as a mentions about resource structure and b mentions about financial info.

 Code of accounts is different from Chart of accounts as it  is used in keeping track of and documenting project expenditures and costs

Dear Admin, Your answer

Submitted by jason on Sat, 08/23/2008 - 03:23.

Dear Admin,

Your answer is correct and thanks for the much needed explanations.

regards

Moranz