SUITEFOUNDATION EXAM STUDY GUIDE EXAM WITH CORRECT ACTUAL
QUESTIONS AND CORRECTLY WELL DEFINED ANSWERS LATEST ALREADY
GRADED A+ 2025 – 2026
First-In, First-Out (FIFO) - ANSWER-The first goods purchased are assumed to be the first goods
sold so that the ending inventory consists of the most recently purchased goods. This method is
useful to track different shipments of similar products.
Last-In, First-Out (LIFO) - ANSWER-The last goods purchased are assumed to be the first goods
sold so that the ending inventory consists of the first goods purchased. (not available in the
NetSuite Australia (AU) edition).
How can you organize report data by fiscal period instead of by date range? - ANSWER-Set
Report by Period Preference (Set Preferences -> Analytics -> Reporting Section). Accounting
periods for the entire fiscal year need to be set up in order for the reports to display results.
What are the Report by Period options under Set Preferences? - ANSWER-All Reports
Financials Only
Never
This SuiteApp enables you to see and manage the performance of your NetSuite customizations
and business critical operations. - ANSWER-Application Performance Management (APM)
What settings under Set Preferences can be used to optimize user performance? - ANSWER-Set
the Landing Page to open to a page other than the Home page.
Check the "Delay Loading of Sublists"
,Set the "Number of Rows in List Segments" to a lower number to speed the loading of pages
containing long lists. 50 is recommended
Set the "Maximum Entries in Dropdowns" to a lower number. 50 or less is recommended. Any
list with more results than this setting appears in a popup instead of a dropdown list. Using
popups speeds page load time.
How often does NetSuite update its database tables that stores the tax rates for all U.S. states? -
ANSWER-Each month
Where does NetSuite get the U.S. state tax updates? - ANSWER-Avalara
To keep your state sales tax tables up-to-date, you must reimport tax rates when tax rates
change. T or F - ANSWER-T
Inventory costing is calculated as the total units available during a specific date range divided by
the beginning inventory cost plus the cost of additions to inventory. - ANSWER-Average (moving
average method)
Enables you track standard costs for items and to track variances between these expected costs
and actual costs. - ANSWER-Standard Costing
Enables you to track one average cost for an item across multiple locations within a defined
group. - ANSWER-Group Average Costing
In NetSuite, (blank) is the default inventory costing method. - ANSWER-Average costing
, If inventory levels are negative, NetSuite uses the (blank) as the inventory costing method. -
ANSWER-last purchase price
Can the costing method be changed after it is saved on the item record? - ANSWER-No
When is item cost calculated? - ANSWER-Using any costing method, the cost for items is
calculated based on the cost shown on the transaction that brings the item into inventory.
What sales transactions affect inventory? - ANSWER-Sales orders, Invoices, Cash Sales
Do inventory records update automatically with each sale? - ANSWER-Yes. Sales are integrated
with inventory records.
How does selling an item affect information tracked on the item record if it can be filled from
the quantity available? - ANSWER-the item is committed to the sale
the quantity committed increases
the quantity available decreases
the cost of goods sold increases
What happens if the item cannot be filled from the quantity available? - ANSWER-The quantity
backordered increases
Do drop-ship items affect inventory? - ANSWER-No
Item is sent directly from your vendor to your customer and the item is not processed in your
inventory. - ANSWER-Drop Ship Item
QUESTIONS AND CORRECTLY WELL DEFINED ANSWERS LATEST ALREADY
GRADED A+ 2025 – 2026
First-In, First-Out (FIFO) - ANSWER-The first goods purchased are assumed to be the first goods
sold so that the ending inventory consists of the most recently purchased goods. This method is
useful to track different shipments of similar products.
Last-In, First-Out (LIFO) - ANSWER-The last goods purchased are assumed to be the first goods
sold so that the ending inventory consists of the first goods purchased. (not available in the
NetSuite Australia (AU) edition).
How can you organize report data by fiscal period instead of by date range? - ANSWER-Set
Report by Period Preference (Set Preferences -> Analytics -> Reporting Section). Accounting
periods for the entire fiscal year need to be set up in order for the reports to display results.
What are the Report by Period options under Set Preferences? - ANSWER-All Reports
Financials Only
Never
This SuiteApp enables you to see and manage the performance of your NetSuite customizations
and business critical operations. - ANSWER-Application Performance Management (APM)
What settings under Set Preferences can be used to optimize user performance? - ANSWER-Set
the Landing Page to open to a page other than the Home page.
Check the "Delay Loading of Sublists"
,Set the "Number of Rows in List Segments" to a lower number to speed the loading of pages
containing long lists. 50 is recommended
Set the "Maximum Entries in Dropdowns" to a lower number. 50 or less is recommended. Any
list with more results than this setting appears in a popup instead of a dropdown list. Using
popups speeds page load time.
How often does NetSuite update its database tables that stores the tax rates for all U.S. states? -
ANSWER-Each month
Where does NetSuite get the U.S. state tax updates? - ANSWER-Avalara
To keep your state sales tax tables up-to-date, you must reimport tax rates when tax rates
change. T or F - ANSWER-T
Inventory costing is calculated as the total units available during a specific date range divided by
the beginning inventory cost plus the cost of additions to inventory. - ANSWER-Average (moving
average method)
Enables you track standard costs for items and to track variances between these expected costs
and actual costs. - ANSWER-Standard Costing
Enables you to track one average cost for an item across multiple locations within a defined
group. - ANSWER-Group Average Costing
In NetSuite, (blank) is the default inventory costing method. - ANSWER-Average costing
, If inventory levels are negative, NetSuite uses the (blank) as the inventory costing method. -
ANSWER-last purchase price
Can the costing method be changed after it is saved on the item record? - ANSWER-No
When is item cost calculated? - ANSWER-Using any costing method, the cost for items is
calculated based on the cost shown on the transaction that brings the item into inventory.
What sales transactions affect inventory? - ANSWER-Sales orders, Invoices, Cash Sales
Do inventory records update automatically with each sale? - ANSWER-Yes. Sales are integrated
with inventory records.
How does selling an item affect information tracked on the item record if it can be filled from
the quantity available? - ANSWER-the item is committed to the sale
the quantity committed increases
the quantity available decreases
the cost of goods sold increases
What happens if the item cannot be filled from the quantity available? - ANSWER-The quantity
backordered increases
Do drop-ship items affect inventory? - ANSWER-No
Item is sent directly from your vendor to your customer and the item is not processed in your
inventory. - ANSWER-Drop Ship Item
