NetSuite Financial User Certification Exam (NetSuite-Financial-User) Free Practice Test

Question 1

What is a characteristic of Intercompany JEs?

A. The exchange rate can be set manually

B. They require a minimum of 2 lines

C. An elimination subsidiary must be one of the included subsidiaries

D. If they are unbalanced between subsidiaries, they must balance within each subsidiary

Correct Answer: D

Question 2

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

A. deposit application

B. sales order

C. credit memo

D. journal entry

Correct Answer: A

Question 3

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

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

B. It may be denominated in any one currency.

C. It may be denominated in multiple currencies.

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

Correct Answer: B

Question 4

A Sales Order should be billed when certain key project tasks have been completed. Which type ofbilling schedule should be used?

A. Standard

B. Charge Based

C. Fixed Bid Milestone

D. Time and Material

Correct Answer: C

Question 5

Which two boxes must be used to reverse the journal entry next month (choose 2)

A. pending approval

B. Reversal date

C. memo

D. do not post until

E. Defer entry

Correct Answer: B,E

Question 6

Which statement is true about budgets in NetSuite?

A. budgets can only be created for income and expense accounts

B. budgets hold setting for expenses will prevent overspending

C. budgets must be entered manually

D. Multiple budgets can be created for the same year and criteria

Correct Answer: D

Question 7

To which account should the customer payments be posted, to consolidate all customer payments recorded through the day into one bank deposit at the end of the day?

A. Bank account

B. accounts receivable

C. undeposited funds

D. customer deposits

Correct Answer: C

Question 8

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

A. Customers

B. Employees

C. Items

D. Transactions

Correct Answer: C

Question 9

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

A. NetSuite uses unrelated customer and vendor records to track these

B. NetSuite uses a single company record to track this combined relationship

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

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

Correct Answer: D

Welcome to TestSimulate

NetSuite Financial User Certification (NetSuite-Financial-User) Free Practice Test