Which 2 statements related to classes and tags are true?

The assertion that you can assign multiple tags to transactions is indeed accurate. This flexibility allows users to categorize transactions more precisely, enabling a more detailed analysis of financial data. By assigning multiple tags, businesses can track various dimensions of their transactions, such as departments, projects, or campaigns, improving their ability to see the financial implications of different areas within the organization.

When considering the other statements, it’s important to note that the Profit and Loss by Tag Group report does not actually show columns for multiple tag groups, as it typically summarizes data by a single group at a time. The notion that tags might be beneficial only for clients who require classes and locations suggests a misunderstanding of the versatility of tags; they can serve a broader range of categorization needs. Lastly, the idea that tags are limited to one standard transaction type is incorrect, as tags can be applied across various types of transactions, providing more extensive functionality than suggested.