Oliver 75 - 57th Question

[jyotimayank]

Question 57.

Which of the following is true regarding the code of accounts?

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 and the responsibilities to the customer and the profession.

[Ananyapmp]

Ans is C

[jyotimayank]

The correct answer is C.

As per PMBOK® Guide 5th Edition

Code of Accounts is a numbering system used to uniquely identify each component of the work breakdown structure (WBS).
The WBS is finalized by assigning each work package to a control account and establishing a unique identifier for that work package from a code of accounts. These identifiers provide a structure for hierarchical summation of costs, schedule, and resource information.

A control account is a management control point where scope, budget, actual cost, and schedule are integrated and compared to the earned value for performance measurement.Each control account may include one or more work packages,and one or more planning packages.

Refer to Page 531 of PMBOK® Guide 5th Edition