Question 1

How can the financial reports be kept separate when tracking finances for two wholly owned but distinct legal entities in one NetSuite account?

Options :

A : use separate fiscal calendars

B : use classes

C : use the multi-book accounting feature

D : use subsidiaries

Answer: D

Question 2

Which two transactions containing inventory items will post to COGS? (Choose two)

Options :

A : Item Return

B : Item Fulfillment

C : Standalone invoices

D : Invoices created from Sales Orders

Answer: B,C

Question 3

Which are 2 elements unto to setting up financial sections in NetSuite financial report? (Choose 2)

Options :

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

Answer: C,D

Question 4

What account is used when you want to accumulate all customer payments to make a consolidated deposit at the end of a given day? Undeposited accounts Which statement is true about Customer Deposits?

Options :

A : Customer Deposits are recorded as a liability.

B : Customer Deposits post to Accounts Receivable.

C : Customer Deposits must be created from a Sales Order.

D : Customer Deposits can be linked to an unapproved Sales Order.

Answer: A

Question 5

Which statement is true about the Period Close Checklist?

Options :

A : This is required for Year-End Close.

B : Tasks may be completed in any order.

C : Customer-specific steps can be added.

D : Tasks displayed depend upon features enabled.

Answer: D

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