Question 1

Which two transactions containing inventory items will post to COGS? (Choose two)

Options :

A : Item Return

B : Item Fulfillment

C : Standalone invoices

D : Invoices created from Sales Orders

Answer: B,C

Question 2

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

Options :

A : NetSuite uses a single Company record to track this combined relationship.

B : NetSuite uses unrelated Customer and Vendor records to track these

C : Either the Vendor or the Customer can be set as "Parent of" the other record to link them

D : NetSuite tracks this using the "Other Relationships" function to link the Customer and Vendor records

Answer: A

Question 3

What two transactions cause a Bill Variance Journal entry to be posted? (Choose two.)

Options :

A : Purchase Requisition

B : Item Receipt

C : Bill Payment

D : Vendor Bill

E : Purchase Order

Answer: B,D

Question 4

Which statement is true about the Period Close Checklist?

Options :

A : This is required for Year-End Close.

B : Tasks may be completed in any order.

C : Customer-specific steps can be added.

D : Tasks displayed depend upon features enabled.

Answer: D

Question 5

Which are 2 elements unto to setting up financial sections in NetSuite financial report? (Choose 2)

Options :

A : custom sections are restricted to one account type

B : formula rows calculate from the row immediately above

C : Each financial section has its own header and summary row

D : Each section can be customized to have multiple account types

Answer: C,D

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