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NetSuite Financial User Certification Sample Questions:

1. 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

A) Write check
B) Transfer funds
C) Purchase Order
D) Pay single vendor

2. Write Check transaction and a Pay Vendor transaction the difference?

A) only write checks reduces AP
B) only pay vendor bill reduces AP
C) only write checks is from bank account
D) only pay vendor bill post to the general ledger

3. What is one characteristic of Elimination Journal Entries?

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

4. Which Two accounts have dedicated reconciliation page in NS?

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

5. Which statement is true about inter-company journal entries?

A) used to log intercompany eliminations
B) Minimum of four lines
C) maximum of six lines
D) balance within each subsidiary, they need not balance between subsidiaries

Solutions: