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Practice NetSuite NetSuite-Financial-User Exam Questions

1. Page: 1/18
  Total 86 Questions
Question No 1

How can the financial reports be kept separate when tracking finances for two wholly owned but distinct legal entities in one NetSuite account?

Choose the Choices:

use separate fiscal calendars

use classes

use the multi - book accounting feature

use subsidiaries

D
Question No 2

which two steps are recommended to track travel expenses by department (choose 2)

Choose the Choices:

make department options

use separate general ledger accounts for each internal department expenses

make department mandatory

share general ledger accounts between departments

C
Question No 3

How does NetSuite set up a company record when you buy from and sell to the same company?

Choose the Choices:

either the vendor or the customer can be set as "Parent of" the other record to link them

NetSuite tracks this using the "Other relationship" functions to link the customer and vendor records

NetSuite uses a single company record to track this combined relationship

NetSuite uses unrelated customer and vendor records to track these

B
Question No 4

Which 3 statements are true about parent accounts in NetSuite (choose 3)?

Choose the Choices:

child accounts are created by setting the subaccount of field

checking the summary box allows the posting of reversing journal entries to this account

parent accounts can be posting or not posting

parent accounts are created by setting the "parent of" field

checking the summary box on the account record prevents anyone from posting activity to the account

A,B,E
Question No 5

which two settings are needed for billable items to appear on the customer invoice (choose 2)

Choose the Choices:

billable checkbox

customer

invoice number

memo

A,D
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