New 2024 Realistic Free NetSuite NetSuite-Financial-User Exam Dump Questions and Answer
NetSuite-Financial-User Practice Test Engine: Try These 87 Exam Questions
NEW QUESTION # 20
Which expense allocation use case requires the use of statistical accounts
- A. Even 50/50 split of receptionist salary based on department
- B. Predefined split of marketing costs among sales channels
- C. Static division of rent based on location
- D. Division of recruiting based on headcount
Answer: D
NEW QUESTION # 21
Which expense allocation use case requires the use of statistical accounts?
- A. static division of rent-based location
- B. even 50/50 split of receptionist salary based on department
- C. predefined split of marketing costs among sales channels
- D. Division of recruiting based upon headcount
Answer: D
NEW QUESTION # 22
When Vendor credits auto-apply, which vendor bills are they applied to?
- A. The oldest vendor bills
- B. The vendor bills with the smallest balance
- C. The newest vendor bills
- D. The vendor bills with a matching balance
Answer: A
NEW QUESTION # 23
Which statement is true about the Memorized Transactions feature?
- A. The Number Remaining refers to the quantity of Item ordered remaining to be billed or shipped.
- B. The Remind Me setting allows manual review of the transaction before it is posted.
- C. The Update Prices checkbox allows manual review of the transaction before it is posted.
- D. The Remind Forever setting sends notice to the Customer that a new Invoice has been created.
Answer: B
NEW QUESTION # 24
Which statement is true about NS budgets?
- A. Budgets must be answered manually
- B. Budget Hold setting for expense accounts will prevent overspending
- C. Multiple budgets can be created for same year and criteria
- D. Budgets can only be created for income and expense accounts
Answer: C
NEW QUESTION # 25
Characteristics of purchase order in NetSuite?
- A. purchase in the currency the of the vendor's primary subsidiary
- B. purchase order must be in the primary currency of the vendor
- C. a purchase requisition is required before creating a purchase order
- D. purchase orders have no accounting/GL impact
Answer: D
NEW QUESTION # 26
What is true about multi-currency Customers?
- A. Customers may use an unlimited number of currencies.
- B. Customers can choose to pay an invoice in any currency.
- C. Sub customers must transact in the currency of the Parent Customer.
- D. Customers are limited to the currency of the subsidiary they are linked to.
Answer: A
NEW QUESTION # 27
Which statement is true about NetSuite Accounts Payable transactions?
- A. Vendor Bills must be created from a Purchase Order.
- B. Paying an Unapproved Bill will cause both Bill and Payment to post to the general ledger.
- C. Bill Purchase Orders page will allow you to generate bills from multiple vendors at once.
- D. Purchase Orders must have a preceding Purchase Requisition.
Answer: C
NEW QUESTION # 28
Which two statements are true about setting up expense allocations? (Choose two.)
- A. The target must be one account
- B. The target can be multiple accounts
- C. The source must be one account.
- D. The source can be multiple accounts
Answer: B,D
NEW QUESTION # 29
Which statement is true about Local versus Global budgets?
- A. Global budgets can be entered in the currency of the parent or the child subsidiary.
- B. It is recommended that either a Global or a Local budget should be used, rather than both types.
- C. Local budget can be entered in the currency of the parent or the child subsidiary.
- D. Budgets are automatically converted in reports to show in the currency context being viewed.
Answer: D
NEW QUESTION # 30
Which two account types can be used to Pay Vendor Bills? (Choose two)
- A. Asset
- B. Non-Posting
- C. Bank
- D. Credit Card
- E. Expense
Answer: C,D
NEW QUESTION # 31
Which are 2 elements unto to setting up financial sections in NetSuite financial report? (Choose 2)
- A. Each section can be customized to have multiple account types
- B. formula rows calculate from the row immediately above
- C. Each financial section has its own header and summary row
- D. custom sections are restricted to one account type
Answer: A,C
NEW QUESTION # 32
Which statement is true about the Period Close Checklist?
- A. This is required for Year-End Close.
- B. Tasks may be completed in any order.
- C. Tasks displayed depend upon features enabled.
- D. Customer-specific steps can be added.
Answer: C
NEW QUESTION # 33
Which two transactions containing inventory items will post to COGS? (Choose two)
- A. Item Fulfillment
- B. Item Return
- C. Invoices created from Sales Orders
- D. Standalone invoices
Answer: A,D
NEW QUESTION # 34
Which two statements are true about Invoices in NetSuite? (Choose two)
- A. Invoices can be assigned to Sales Orders after the Invoice has been created.
- B. The Electronic Invoicing SuiteApp allows sending of individual invoices or batches.
- C. Multiple Sales Orders can generate one Invoice.
- D. Invoices can be created without reference to a Sales Order.
Answer: B,D
NEW QUESTION # 35
Which two options should be selected to create a memorized transaction for the electric bill, which varies in amount each month but will continue until canceled?
- A. Override Transaction Date
- B. Number Remaining
- C. Indefinite
- D. Action: Automatic
- E. Action: Reminder
Answer: C,E
NEW QUESTION # 36
What is the purpose of an elimination subsidiary?
- A. Offsetting intercompany transactions
- B. Entering non-posting transactions
- C. Posting non-auditable transactions
- D. Offsetting expenses between departments
Answer: A
NEW QUESTION # 37
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