NetSuite SuiteFoundation Exam questions with correct answers

3 Types of Customer Payments: - Correct Answer-EFT (electronic funds transfer), Paypal on web store, Credit Card processing ACH (what is it, and it is the only way to do what?) - Correct Answer-Automated Clearing House (process transactions through ACH network for EFT) The only way to pay vendors in NS. EFT - Correct Answer-Electronic Funds Transfer (transfer directly from bank account) Nexus - Correct Answer-how to collect and pay taxes in different areas of the world (defines jurisdiction in which collect and pay taxes) Tax Control Accounts - Correct Answer-define tax types and do GL posting of indirect taxes (indirect taxes = Sales tax and VAT) Tax Types - Correct Answer-defines tax codes on balance sheet Tax Groups - Correct Answer-combines several tax codes and applies them to a transaction (group of tax codes to one transaction) Tax Codes - Correct Answer-determines the tax amount applied to a single transaction (as opposed to tax groups, which is a group of tax codes)