Question 1

Which two are elements unique to setting up Financial Sections in a NetSuite Financial report? (Choose two.)

Options :

A : Formula rows calculate from the row immediately above

B : Each Section can be customized to have multiple account types.

C : Each Financial Section has its own header and summary row.

D : Custom sections are restricted to one account type.

Answer: B,C

Question 2

Which transaction, that records the expense and the cash spent in one step, can be used to record ad-hoc purchases such as petty cash

Options :

A : Purchase Order

B : Pay single vendor

C : Write check

D : Transfer funds

Answer: C

Question 3

Which two statements are true about budgets in NetSuite? (Choose two.)

Options :

A : Budgets can use statistical accounts

B : Budgets set to "Enforce" prevent overspending.

C : Global budget amounts may fluctuate when viewed in root parent currency.

D : Local budget amounts may fluctuate when consolidated to parent subsidiary view.

Answer: A,D

Question 4

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

Options :

A : NetSuite uses a single Company record to track this combined relationship.

B : NetSuite uses unrelated Customer and Vendor records to track these

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 Relationships" function to link the Customer and Vendor records

Answer: A

Question 5

Which two statements are true about setting up intercompany expense allocations? (Choose two.)

Options :

A : The source may be multiple subsidiaries

B : The source must be one subsidiary

C : The target can only be one subsidiary.

D : The target may be multiple subsidiaries.

Answer: B,D