Which statement describes an approval group?

• A. defines a group of users authorized to approve data for an entity.
• B. defines groups of data for approval in phases
• C. defines the users authorized to approve a task in Task Manager.
• D. defines the entities included in an Approval Unit

Answer: (B)

An approval group is used to organize the data that must be approved into stages during the close. It defines which data will be reviewed in a given phase, allowing approvals to be collected in steps rather than all at once. This supports governance and efficiency when handling large data sets across many entities and periods. It’s not about a group of users, or tasks in Task Manager, or the entities within an Approval Unit; those are separate concepts. So describing data grouped for approval in phases best matches what an approval group does.