OneStream Chart of Accounts (COA) Practice Exam

Question: 1 / 400

How can OneStream maintain historical integrity when accounts are modified?

Through creating a new account for each transaction

By not allowing any modifications once an account is created

Through version history and audit trails documenting changes made

OneStream maintains historical integrity when accounts are modified through version history and audit trails that document the changes made. This mechanism allows users to track and review any alterations to the accounts over time, ensuring that the original data remains intact while still permitting necessary updates to adapt to current needs.

The benefit of having a version history is that it provides a clear trail of alterations, which can be critical for auditing, compliance, and strategic decision-making. Users can refer back to previous versions of accounts, which helps in maintaining accuracy and trustworthiness of the financial data presented.

This feature is particularly important in financial environments where accuracy and historical context are key to understanding trends, performance, and changes within a company's financial landscape.

Get further explanation with Examzify DeepDiveBeta

By deleting old records for clarity

Next Question

Report this question

Download OneStream Chart of Accounts (COA) Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy