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Questions # 1:

Which three record types can be tagged Department | Class | Location? (Choose Three)

Options:
A.

Customers

B.

Items

C.

Transactions

D.

Employees

Expert Solution
Questions # 2:

which transaction transfers the customer deposit liability to offset the invoice accounts receivable GL impact?

Options:
A.

sales order

B.

journal entry

C.

deposit application

D.

credit memo

Expert Solution
Questions # 3:

What are two considerations for managing multiple fiscal calendars? Choose two

Options:
A.

Periods are created separately for each fiscal calendar

B.

A subsidiary can have multiple fiscal calendars without multi-Book

C.

A fiscal calendar can be used by multiple subsidiaries

D.

Periods are shared across fiscal calendars.

Expert Solution
Questions # 4:

Which statement is true about setting up NetSuite budgets?

Options:
A.

Copying budgets is not recommended.

B.

Budgets can be imported into NetSuite using CSV.

C.

Budgets must be created manually in the NetSuite user interface.

D.

Budgets can be created for multiple criteria, but only one per parameter.

Expert Solution
Questions # 5:

On which financial statement are invoices summarized?

Options:
A.

Balance sheet

B.

GL

C.

Income Statement

D.

AP Aging

Expert Solution
Questions # 6:

Which statement is true about expense allocations?

Options:
A.

Allocation schedules can only be set to a frequency of once per month

B.

Allocation JEs must zero out the source expense account

C.

Allocation schedules can be assigned to any expense account

D.

Allocation schedules are assigned to specific purchase transactions

Expert Solution
Questions # 7:

Which two statements are true about Vendors in a One World account? (Choose two.)

Options:
A.

Vendors can have multiple currencies.

B.

There is one Credit Limit value per Vendor.

C.

Vendors can only be assigned to one subsidiary.

D.

Vendors can be assigned to multiple subsidiaries.

Expert Solution
Questions # 8:

What is one characteristic of Elimination Journal Entries?

Options:
A.

They are posted to only one subsidiary.

B.

They are the same as Intercompany Journal Entries.

C.

They are approved automatically when entered manually.

D.

They are used to transfer profit from one subsidiary to another

Alternative Answers:

Expert Solution
Questions # 9:

When entering a journal, which two boxes must be used to reverse the journal entry next month, so that the reversal is not created until then? (Choose Two)

Options:
A.

Do Not Post Until

B.

Defer Entry

C.

Memo

D.

Pending Approval

E.

Reversal Date

Expert Solution
Questions # 10:

How must a Bank Account be denominated when using the multi-currency feature?

Options:
A.

It may be denominated in any one currency.

B.

It may be denominated in multiple currencies.

C.

It must be denominated in the Base Currency of the subsidiary.

D.

It must be denominated in the Base Currency of the Root Subsidiary

Expert Solution
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