NetSuite Financial User Certification
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Offsetting intercompany transactions - CORRECT ANSWER - What is the purpose of an
elimination subsidiary?
Classes - CORRECT ANSWER - Types of sales or product lines
Locations - CORRECT ANSWER - Warehouses
Subsidiaries - CORRECT ANSWER - Company
Departments - CORRECT ANSWER - Internal Teams
Customize the role to restrict access by segment, Designate Department, Class, Location on the
account, Tag the Employee record to Department, Class, Location - CORRECT ANSWER -
Which three steps are required to prevent someone from accessing some accounts but not others?
New accounts are automatically added to the chart of accounts when needed. - CORRECT
ANSWER - How does enabling Accounting features affect the chart of accounts?
Statistical - CORRECT ANSWER - Which account type is non-posting?
Approve Sales Order > Fulfill Sales Order > Bill Sales Order - CORRECT ANSWER - What
is the order of steps for the NetSuite standard accounts receivable process?
Customers may pay the bills of Subcustomers - CORRECT ANSWER - What does the setting
"Accept Payment at Top Level Customer" allow for?
, Customers may use an unlimited number of currencies. - CORRECT ANSWER - What is true
about multi-currency Customers?
Invoices can be created without reference to a Sales Order AND The Electronic Invoicing
SuiteApp allows sending of individual invoices or batches. - CORRECT ANSWER - Which
two statements are true about Invoices in NetSuite?
Item Fulfillment and Standalone invoices - CORRECT ANSWER - Which two transactions
containing inventory items will post to COGS?
A single customer payment can be applied to multiple invoices. - CORRECT ANSWER -
Which statement is true about Accept Customer Payment?
Customer Deposits are recorded as a liability. - CORRECT ANSWER - Which statement is
true about Customer Deposits?
Invoice - CORRECT ANSWER - Which transaction requires a credit memo before a refund?
Individually from the Sales Order and the billing queue under Bill Orders - CORRECT
ANSWER - In which two places can Invoices be created based upon Billing Schedules?
Charged Based - CORRECT ANSWER - Includes billing rates
Time and Material - CORRECT ANSWER - Based on actual costs
Fixed Bid Milestone - CORRECT ANSWER - Billing triggered as tasks in projects are
completed
1. Purchase Requisition Entered
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Offsetting intercompany transactions - CORRECT ANSWER - What is the purpose of an
elimination subsidiary?
Classes - CORRECT ANSWER - Types of sales or product lines
Locations - CORRECT ANSWER - Warehouses
Subsidiaries - CORRECT ANSWER - Company
Departments - CORRECT ANSWER - Internal Teams
Customize the role to restrict access by segment, Designate Department, Class, Location on the
account, Tag the Employee record to Department, Class, Location - CORRECT ANSWER -
Which three steps are required to prevent someone from accessing some accounts but not others?
New accounts are automatically added to the chart of accounts when needed. - CORRECT
ANSWER - How does enabling Accounting features affect the chart of accounts?
Statistical - CORRECT ANSWER - Which account type is non-posting?
Approve Sales Order > Fulfill Sales Order > Bill Sales Order - CORRECT ANSWER - What
is the order of steps for the NetSuite standard accounts receivable process?
Customers may pay the bills of Subcustomers - CORRECT ANSWER - What does the setting
"Accept Payment at Top Level Customer" allow for?
, Customers may use an unlimited number of currencies. - CORRECT ANSWER - What is true
about multi-currency Customers?
Invoices can be created without reference to a Sales Order AND The Electronic Invoicing
SuiteApp allows sending of individual invoices or batches. - CORRECT ANSWER - Which
two statements are true about Invoices in NetSuite?
Item Fulfillment and Standalone invoices - CORRECT ANSWER - Which two transactions
containing inventory items will post to COGS?
A single customer payment can be applied to multiple invoices. - CORRECT ANSWER -
Which statement is true about Accept Customer Payment?
Customer Deposits are recorded as a liability. - CORRECT ANSWER - Which statement is
true about Customer Deposits?
Invoice - CORRECT ANSWER - Which transaction requires a credit memo before a refund?
Individually from the Sales Order and the billing queue under Bill Orders - CORRECT
ANSWER - In which two places can Invoices be created based upon Billing Schedules?
Charged Based - CORRECT ANSWER - Includes billing rates
Time and Material - CORRECT ANSWER - Based on actual costs
Fixed Bid Milestone - CORRECT ANSWER - Billing triggered as tasks in projects are
completed
1. Purchase Requisition Entered
