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NEW QUESTION # 50
On which financial statement are invoices summarized?
- A. GL
- B. AP Aging
- C. Balance sheet
- D. Income Statement
Answer: C
NEW QUESTION # 51
Which two options are possible to set in NetSuite? (Choose Two)
- A. Prevent Sales Orders being entered for Customers over their credit limit
- B. Allow Sales orders for customers over their credit limit, but show a warning to the person entering the order
- C. Prevent fulfillment of a Sales Order for Customers over their Credit Limit
- D. Allow Estimates/Quote for customers over their Credit Limit but show a warning to the person entering the order.
Answer: A,B
NEW QUESTION # 52
Which two boxes must be used to reverse the journal entry next month (choose 2)
- A. Defer entry
- B. do not post until
- C. memo
- D. pending approval
- E. Reversal date
Answer: A,E
NEW QUESTION # 53
The simplest way to post bank service fees ... reconcile bank statement pages?
- A. post journal entry
- B. enter on the new deposit subtab
- C. Enter on the new charge's subtab
- D. post a write check transaction
Answer: B
NEW QUESTION # 54
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. Indefinite
- C. Action: Reminder
- D. Action: Automatic
- E. Number Remaining
Answer: B,C
NEW QUESTION # 55
which transaction transfers the customer deposit liability to offset the invoice accounts receivable GL impact?
- A. journal entry
- B. credit memo
- C. deposit application
- D. sales order
Answer: C
NEW QUESTION # 56
Which account in a general ledger is being cleared when Make Deposits transaction is used?
- A. Undeposited Funds
- B. Customer Deposits
- C. Accounts Payable
- D. Accounts Receivable
Answer: A
NEW QUESTION # 57
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
Answer: A,B
NEW QUESTION # 58
Which account type is non-posting?
- A. Unbilled Receivable
- B. Deferred Expense
- C. 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.
- D. Other Current Liability
Answer: C
NEW QUESTION # 59
Which statement is true about the Memorized Transactions feature?
- A. The Remind Forever setting sends notice to the Customer that a new Invoice has been created.
- B. The Update Prices checkbox allows manual review of the transaction before it is posted.
- C. The Remind Me setting allows manual review of the transaction before it is posted.
- D. The Number Remaining refers to the quantity of Item ordered remaining to be billed or shipped.
Answer: C
NEW QUESTION # 60
Which statement is true about re-opening closed periods?
- A. A justification must be entered to re-open a closed period
- B. The period close checklist is only required the first time you close a period
- C. Only administrator can re-open closed periods
- D. If only one period is re-opened, no other periods are affected
Answer: A
NEW QUESTION # 61
How can an Expense Allocation Schedule be set up to dynamically recalculate weighting each time it is applied?
- A. Click the Update Sample Weights button.
- B. Use a statistical account
- C. Predefine the weighting when setting up the schedule
- D. Use custom segments
Answer: C
NEW QUESTION # 62
Which 3 statements are true about parent accounts in NetSuite (choose 3)?
- A. checking the summary box allows the posting of reversing journal entries to this account
- B. checking the summary box on the account record prevents anyone from posting activity to the account
- C. parent accounts are created by setting the "parent of" field
- D. parent accounts can be posting or not posting
- E. child accounts are created by setting the subaccount of field
Answer: A,B,E
NEW QUESTION # 63
which statement is true about assigning a billing schedule to an item record?
- A. it requires that items on the same sales order have billing schedule of some kind
- B. it forces all the lines on sales order to have billing schedule
- C. it requires that all items on the sales order used same billing schedule
- D. it ensures that item will always have the billing default in correctly on the sales order
Answer: D
NEW QUESTION # 64
Which three steps are required to prevent someone from accessing some accounts but not others?
- A. Designate Department | Class | Location on the account
- B. Use the NetSuite default standard role
- C. Tag the Employee record to Department | Class | Location
- D. Customize the role to restrict access by segment
- E. Assign a Currency to the account
Answer: A,C,D
NEW QUESTION # 65
Which statement is true about NS budgets?
- A. Budgets can only be created for income and expense accounts
- B. Multiple budgets can be created for same year and criteria
- C. Budgets must be answered manually
- D. Budget Hold setting for expense accounts will prevent overspending
Answer: B
NEW QUESTION # 66
Which statement is true about billing a purchase order in NetSuite?
- A. Vendor bills post to the general ledger, whether approved or not
- B. Only approved vendor bills post to the general ledger
- C. Standalone bills containing inventory line items have no inventory account impact
- D. All bills must be created from a PO
Answer: B
NEW QUESTION # 67
How are fiscal calendars used by subsidiaries?
- A. Each period must be locked in each subsidiary separately.
- B. Parent-Child subsidiaries must use the same fiscal calendar
- C. Each subsidiary may use its own fiscal calendar.
- D. Each period may be closed separately in each subsidiary.
Answer: C
NEW QUESTION # 68
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
Answer: B
NEW QUESTION # 69
What two transactions cause a Bill Variance journal entry to be posted?
- A. Item receipt
- B. Vendor bill
- C. bill payment
- D. purchase requisition
- E. purchase order
Answer: A,C
NEW QUESTION # 70
What are two characteristics of setting up Bank Accounts? (Choose 2)
- A. A bank account must be held in one currency only
- B. A bank account can be shared by multiple subsidiaries
- C. A bank account must belong to only one subsidiary
- D. A bank account can be held in multiple currencies
Answer: A,C
NEW QUESTION # 71
A Sales Order should be billed when certain key project tasks have been completed. Which type ofbilling schedule should be used?
- A. Fixed Bid Milestone
- B. Charge Based
- C. Time and Material
- D. Standard
Answer: A
NEW QUESTION # 72
What is the significance of the Account Type for any given account?
- A. It determines the exchange rate on posted transactions.
- B. It determines the default section in financial statements
- C. It affects the subsidiary assignment.
- D. It controls access by users
Answer: B
NEW QUESTION # 73
In which two places can Invoices be created based upon Billing Schedules? (Choose two)
- A. Individually from the Project record
- B. In bulk from the Approve Time screen
- C. Individually from the Sales Order
- D. The billing queue under Bill Orders
Answer: C,D
NEW QUESTION # 74
Where can invoices that have already been generated be seen from the sales order screen?
- A. Next to each line item
- B. Under the billing tab, on the billing schedule
- C. Click the bill remaining button
- D. Under related records
Answer: D
NEW QUESTION # 75
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NetSuite-Financial-User Exam Practice Questions prepared by NetSuite Professionals: https://www.validbraindumps.com/NetSuite-Financial-User-exam-prep.html