What condition must be true for consolidation to occur within a given year?

The correct condition for consolidation to occur within a given year is that the current period consolidation status is Impacted while the remaining periods are marked as OK. When the status is labeled as "Impacted," it indicates that there are issues or adjustments needed in the current period that must be resolved before consolidation can proceed. Having the remaining periods in an "OK" state suggests that those periods do not have any issues preventing their consolidation. Therefore, the condition signifies that there is a need for action in the current period while the other periods are ready and do not have conflicting data or statuses.

This specific condition captures the essence of managing the financial closing process, allowing for focused corrections before consolidating all periods.