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Free NetSuite-Financial-User Exam Braindumps (page: 6)

Page 5 of 22
PDF with 86 Questions

What two transactions cause a Bill Variance journal entry to be posted?

  1. Item receipt
  2. purchase order
  3. bill payment
  4. purchase requisition
  5. Vendor bill

Answer(s): A,C



On which financial statements are invoices summarized?

  1. income statement
  2. Balance sheet
  3. account payable aging
  4. general ledger

Answer(s): D



Which is recommended for setting up new accounting periods?

  1. use one-day year end adjustment period for year-end closing journal entries to retained earnings
  2. create accounting period one at a time to avoid multiple open periods
  3. Use set-up full year to generate all periods at once for full year
  4. set up new year and new quarter at the beginning of the fiscal year

Answer(s): C



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

  1. A fiscal calendar can be used by multiple subsidiaries
  2. Periods are created separately for each fiscal calendar
  3. Periods are shared across fiscal calendars
  4. a subsidiary can have multiple fiscal calendars without multi-book

Answer(s): A,C






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