1Z0-516 · Question #121
ABC Company in the United Kingdom has three subsidiaries in three different countries. It consolidates the accounts of all subsidiaries and the headquarters by using the average balances. John is…
The correct answer is A. Posting of the consolidation journals may have failed. D. John may not have reversed the prior periods consolidation in the current period. See the full explanation below for the reasoning.
Question
ABC Company in the United Kingdom has three subsidiaries in three different countries. It consolidates the accounts of all subsidiaries and the headquarters by using the average balances. John is new to Oracle General Ledger. He has just joined ABC Company. He needs to consolidate for the current month. On completion of the consolidation, John was not able to tally the consolidated figures with the ledgers. Select two reasons why John failed to see the correct balances. (Choose two.)
Options
- APosting of the consolidation journals may have failed.
- BHe forgot to add the prior periods consolidation in the current period.
- CManual adjustment needed after every consolidation was not performed.
- DJohn may not have reversed the prior periods consolidation in the current period.
How the community answered
(18 responses)- A78% (14)
- B11% (2)
- C11% (2)
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