N16599GC10 Exam Training Practice Tests (Oracle NetSuite Financial User)]

Question 1

which two steps are recommended to track travel expenses by department (choose 2)

A. use separate general ledger accounts for each internal department expenses B. share general ledger accounts between departments C. make department mandatory D. make department options

Correct Answer: C

Question 2

Which statement is true about Accept Customer Payment?

A. Customer Payments and Cash Sales have the same GL Impact. B. A single customer payment can be applied to multiple invoices. C. Customer Payment and Customer Deposit are different terms for the same transaction. D. Customer Payments post to Undeposited Funds when payment is questionable.

Correct Answer: B

Question 3

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

A. Each financial section has its own header and summary row B. formula rows calculate from the row immediately above C. custom sections are restricted to one account type D. Each section can be customized to have multiple account types

Correct Answer: A,D

Question 4

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

A. The target must be one subsidiary B. The target can be multiple subsidiary C. The source can be multiple subsidiary D. The source must be one subsidiary

Correct Answer: B,C

Question 5

Which statement is true about billing a purchase order in NetSuite?

A. All bills must be created from a PO B. Vendor bills post to the general ledger, whether approved or not C. Only approved vendor bills post to the general ledger D. Standalone bills containing inventory line items have no inventory account impact

Correct Answer: C

Question 6

What is the purpose of an elimination subsidiary?

A. Offsetting expenses between departments B. Posting non-auditable transactions C. Offsetting intercompany transactions D. Entering non-posting transactions

Correct Answer: C

Question 7

Which Two accounts have dedicated reconciliation page in NS?

A. Credit Card B. Fixed Asset C. Bank D. Sales Tax Liability

Correct Answer: A,C

Question 8

A sales order should be billed when certain key project tasks have been completed

A. time and material B. fixed bid milestone C. charge based D. standard

Correct Answer: B

Question 9

What is true about approving Journal Entries?

A. Approving Journal Entries requires a separate permission from Creating Journal Entries B. Journal Entries post to the general ledger while pending approval C. The posting period is based upon the journal entry creation date, rather than the approval date D. Approve Journals permission allows you to see all journals in all subsidiaries

Correct Answer: A

Oracle NetSuite Financial User - N16599GC10 Exam Practice Test