How many ledgers are needed?

The company has four legal entities operating in US CA, US-NY, Canada and the UK. The chart of
accounts and the accounting calendar are the same for US CA, US-NY and Canada but NOT for
the UK.
How many ledgers are needed?

A.
Four

B.
Two

C.
One

D.
three

Explanation:

Note:
Ledger Processing Options
If there are legal entities that require any one of the below ledger processing options to be
different, then define a separate primary ledger for each legal entity and therefore, a new
accounting setup
Ledger Processing Options are defined at the ledger level and refer to the following options that
control how journals and transactions are processed for that ledger:
First Ever Opened Period
Number of Future Enterable Periods
Retained Earnings Account
Subledger Accounting Options, such as the subledger accounting method, journal description
language, entered currency balancing account, cash basis accounting, and the ledger currency
balancing account
Option to track balances using a secondary segment
Suspense Account
Rounding Differences Tracking Account

Intracompany Balancing option
Journal Approval
Journal Entry Tax
Journal Reversal Criteria Set
Default Period End Rate Type
Default Period Average Rate Type
Cumulative Translation Adjustment Account
Journal Reconciliation
Budgetary Control
Reserve for Encumbrance Account
Average Balance Processing
Average Balance Consolidation
Net Income Account
Transaction Calendar
Oracle Financials Implementation Guide , Overview of Accounting Setups