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NetSuite Financial User Certification Sample Questions:

1. What are two considerations for managing multiple fiscal calendars? (Choose 2)

A) Periods are created separately for each fiscal calendar
B) Periods are shared across fiscal calendars
C) A fiscal calendar can be used by multiple subsidiaries
D) a subsidiary can have multiple fiscal calendars without multi-book

2. Which 3 statements are true about parent accounts in NetSuite (choose 3)?

A) parent accounts can be posting or not posting
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) child accounts are created by setting the subaccount of field
E) checking the summary box allows the posting of reversing journal entries to this account

3. What is one characteristic of Elimination Journal Entries?

A) They are approved automatically when entered manually.
B) They are used to transfer profit from one subsidiary to another Alternative Answers:
C) They are posted to only one subsidiary.
D) They are the same as Intercompany Journal Entries.

4. On which financial statements are invoices summarized?

A) income statement
B) account payable aging
C) Balance sheet
D) general ledger

5. 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) Indefinite
B) Number Remaining
C) Action: Reminder
D) Action: Automatic
E) Override Transaction Date

Solutions: