there is no LOV values like YES or No
there is only options like below
GMF:Use OPM Revenue Account for AR Update
Default : 1
1 = Yes
Description : User OPM Revenue Account.
Recommended Change Levels : Site Level
there is no need to create LOV for profiles .
Default it is "1 " means " yes"
if u want to change it to "NO" use "0"
if u have any doubts feel free to contact.
Oracle APPS DBA