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What is the difference between MVG & Dynamic PickList?

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What is the difference between MVG & Dynamic PickList?

A1: A new value could be added through an MVG where as Dynamic Pick Applet could only be used to pick a value from a pick applet which could be constrained to show relevant data. A value entered through an MVG will show up in a Dynamic Pick Applet if the Dynamic Pick Applet is based on that MVG.

A2: VG---More than one value associated with Single field
Dynamic Pik list---It drawn value from the BC.

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