1Z0-516 · Question #405
Computer Operations Inc. has its headquarters in Frankfurt. It uses two ledgers: one for corporate accounting (primary) and another for statutory reporting (secondary). Both ledgers have different…
The correct answer is A. A secondary ledger must be defined for California. C. A new ledger set must be defined, which will group the Frankfurt primary ledger and the California. See the full explanation below for the reasoning.
Question
Computer Operations Inc. has its headquarters in Frankfurt. It uses two ledgers: one for corporate accounting (primary) and another for statutory reporting (secondary). Both ledgers have different charts of accounts and accounting calendars but use EUR as the functional currency. It has a subsidiary in California, which uses its own chart of accounts and the USD currency. Identify two options by which Computer Operations Inc. can consolidate their global operations. (Choose two.)
Options
- AA secondary ledger must be defined for California.
- BConsolidation can be done by mapping between the California secondary ledger and the
- CA new ledger set must be defined, which will group the Frankfurt primary ledger and the California
- DThe chart of accounts and calendar of the Frankfurt secondary ledger must be the same as that
How the community answered
(28 responses)- A79% (22)
- B7% (2)
- D14% (4)
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