The primary ledger must be configured to meet the local statutory reporting requirements, which in this case is the local GAAP and local currency. A secondary ledger is required to maintain a separate accounting representation for corporate purposes, such as reporting to the parent company under a different accounting convention (IFRS). A reporting currency ledger shares the same chart of accounts, calendar, and accounting method as its source ledger and is used only for currency conversion, making it unsuitable for representing a different accounting standard like IFRS.

A. Reporting currency cannot maintain a different accounting convention from the primary ledger; it's only for currency translation.

B. Reporting currency cannot maintain a different accounting convention from the primary ledger; it's only for currency translation.

D. A primary ledger with IFRS would fail to meet the legal requirement to produce fiscal reports under the local GAAP.

1. Oracle Fusion Cloud Financials, Implementing Enterprise Structures and General Ledger, Release 24B, F91402-02, Chapter 6: Manage Ledgers, Section: "Ledger Options". This section details the purpose of primary, secondary, and reporting currency ledgers, stating that secondary ledgers are used to represent a different accounting convention.

2. Oracle Fusion Cloud Financials, Financials Concepts Guide, Release 24B, F91399-02, Chapter 4: General Ledger, Section: "Primary, Secondary, and Reporting Currency Ledgers". This guide explains that the primary ledger reflects the main accounting method, while a secondary ledger can be maintained for a second accounting method.