Oracle Exam 1Z0-516 Topic 8 Question 19 Discussion

Actual exam question for Oracle's 1Z0-516 exam

Question #: 19
Topic #: 8

Isa Global Inc. is based in the United States with divisions in Europe and Asi

a. All journal imports, recurring journals, mass allocations, and manual journal entries have been posted for their European subsidiary.

What is the next logical step in the period-close process?

Aopening the next period

Bclosing the current period

Crevaluing foreign currency balances

Dtranslating to the functional currency

Econsolidating to the parent set of books

Show Suggested Answer

Suggested Answer: D

by Theola at May 07, 2024, 06:50 AM

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Karl

6 days ago

I don't know, but I'm pretty sure the answer involves at least one 'foreign' and one 'currency' somewhere in there.

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Gladys

16 days ago

Consolidating to the parent set of books, easy peasy. Unless, of course, you're trying to create some sort of foreign exchange Voltron.

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Marsha

6 days ago

B) closing the current period

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Wilda

10 days ago

A) opening the next period

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Shawn

1 months ago

Opening the next period? What is this, amateur hour? Closing the current one is clearly the way to go here.

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Nida

9 days ago

Once we've revalued, we can then translate to the functional currency.

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Rickie

11 days ago

Yes, that's a good point. We should definitely revalue before closing.

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Karma

17 days ago

But shouldn't we also revalue foreign currency balances before closing?

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Yuriko

17 days ago

I agree, closing the current period is the next logical step.

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Jamie

1 months ago

I'm leaning towards translating to the functional currency. Gotta get those numbers aligned before consolidating, don't you think?

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Blair

1 months ago

I believe revaluing foreign currency balances should be done before closing the period to ensure accurate financial reporting.

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Meghann

1 months ago

I agree with Stephaine, closing the current period makes sense to finalize the financials.

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Lashawn

1 months ago

Hmm, revaluing foreign currency balances seems like the obvious next step. Can't close the period without doing that first, right?

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Margurite

4 days ago

D) translating to the functional currency

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Alease

9 days ago

C) revaluing foreign currency balances

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Candida

10 days ago

B) closing the current period

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Rikki

16 days ago

A) opening the next period

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Stephaine

1 months ago

I think the next logical step is closing the current period.

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Carolynn

1 months ago

I believe revaluing foreign currency balances should be done before closing the period to ensure accuracy.

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Annmarie

1 months ago

I agree with Alverta, closing the current period makes sense to finalize the financials.

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Alverta

2 months ago

I think the next step should be closing the current period.

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