Your client is about to define their primary ledger. Which set of three primary attributes do they need to know in order to complete this?

Question

Options

• AChart of Accounts, Description, and Accounting Method
• BChart of Accounts, Ledger Balance, and Accounting Method
• CChart of Accounts, Accounting Calendar, and Currency
• DCurrency, Description, and Accounting Method

• A
  7% (3)
• B
  5% (2)
• C
  76% (32)
• D
  12% (5)

Explanation

When defining a primary ledger in an ERP system (such as Oracle Fusion), three foundational attributes are mandatory: the Chart of Accounts (defines the account structure), the Accounting Calendar (defines fiscal periods), and the Currency (defines the functional currency for recording transactions) - these together form the "accounting context" that every transaction posted to the ledger depends on.

Why the distractors fail:

• A & D include Description and Accounting Method - Description is optional metadata, and Accounting Method (e.g., accrual vs. cash) is a separate configuration step, not one of the three required setup attributes.
• B includes Ledger Balance, which is a result of posting transactions, not an input required to define the ledger itself.

Memory tip: Think of the three C's - Chart of Accounts, Calendar, Currency - all starting with "C," just like the correct answer choice itself.

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