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1. Explain what is meant by a posting period variant?

2. What is the purpose of a field status group?

3. Explain using an example what you understand by “year shift/displacement” in a fiscal year (5 lines). You may use an illustration/image if you like.

4. Name 3 things defined in the fiscal year variant.

5. List and explain the 3 different types of Chart of accounts. (6 lines)