True or False: The G/L provides a comprehensive picture of external accounting and financial records.

The General Ledger (G/L) system in SAP provides a comprehensive picture of a company’s external accounting and financial records. It serves as the central repository for all accounting data, capturing all financial transactions and consolidating them in a structured manner. The G/L facilitates the recording of all financial activities from various sources such as accounts payable, accounts receivable, and asset accounting, allowing for a clear and consolidated view of the organization's financial status.

This comprehensive view is essential for generating accurate financial statements, performing audits, and ensuring regulatory compliance. It enables stakeholders to analyze the company's financial health, profitability, and cash flow effectively. Thus, the assertion that the G/L provides a comprehensive picture of external accounting and financial records is indeed true, as it plays a critical role in the financial reporting process within SAP S/4HANA.