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

Answer(s): D

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

Answer(s): C

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

either the vendor or the customer can be set as "Parent of" the other record to link them
NetSuite tracks this using the "Other relationship" functions to link the customer and vendor records
NetSuite uses a single company record to track this combined relationship
NetSuite uses unrelated customer and vendor records to track these

Answer(s): B

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

child accounts are created by setting the subaccount of field
checking the summary box allows the posting of reversing journal entries to this account
parent accounts can be posting or not posting
parent accounts are created by setting the "parent of" field
checking the summary box on the account record prevents anyone from posting activity to the account

Answer(s): A,B,E

Free NetSuite-Financial-User Exam Braindumps (page: 9)