NetSuite NetSuite Financial User NetSuite Financial User Certification Online Training
NetSuite NetSuite Financial User Online Training
The questions for NetSuite Financial User were last updated at Nov 19,2024.
- Exam Code: NetSuite Financial User
- Exam Name: NetSuite Financial User Certification
- Certification Provider: NetSuite
- Latest update: Nov 19,2024
Question #21
Which statement is true about inter-company journal entries?
- A . Minimum of four lines
- B . used to log intercompany eliminations
- C . balance within each subsidiary, they need not balance between subsidiaries
- D . maximum of six lines
Question #22
Which statement is true about budgets in NetSuite?
- A . budgets must be entered manually
- B . budgets can only be created for income and expense accounts
- C . budgets hold setting for expenses will prevent overspending
- D . Multiple budgets can be created for the same year and criteria
Question #23
Which two statement are true about setting up the intercompany expense allocation (choose 2)
- A . the source may be multiple subsidiary
- B . The target may be multiple subsidiaries
- C . The source must be one subsidiary
- D . the target can only be one subsidiary
Question #24
Which expense allocation use case requires the use of statistical accounts?
- A . static division of rent-based location
- B . predefined split of marketing costs among sales channels
- C . even 50/50 split of receptionist salary based on department
- D . Division of recruiting based upon headcount
Question #25
Which are 2 elements unto to setting up financial sections in NetSuite financial report? (Choose 2)
- A . custom sections are restricted to one account type
- B . formula rows calculate from the row immediately above
- C . Each financial section has its own header and summary row
- D . Each section can be customized to have multiple account types
Question #26
What is the purpose of an elimination subsidiary?
- A . Entering non-posting transactions
- B . Posting non-auditable transactions
- C . Offsetting expenses between departments
- D . Offsetting intercompany transactions
Question #27
Which three steps are required to prevent someone from accessing some accounts but not others?
- A . Assign a Currency to the account
- B . Use the NetSuite default standard role
- C . Customize the role to restrict access by segment
- D . Designate Department | Class | Location on the account
- E . Tag the Employee record to Department | Class | Location
Question #28
How does enabling accounting features affect the chart of accounts?
- A . Accounts must be renumbered.
- B . Statistical accounts should be used for correct posting.
- C . The Administrator may need to create new accounts to use new features.
- D . New accounts are automatically added to the chart of accounts when needed
Question #29
Which account type is non-posting?
- A . Statistical Account-*Statistical accounts are non-monetary accounts that can be used to maintain statistical information for a variety of metrics. For example, a statistical account could be established to maintain the employee headcount by the department in an organization.
- B . Deferred Expense
- C . Unbilled Receivable
- D . Other Current Liability
Question #30
What is an example of a subsidiary?
- A . The direct sales division
- B . A clearing account
- C . A warehouse
- D . A wholly owned company
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