Question 1

What account is used when you want to accumulate all customer payments to make a consolidated deposit at the end of a given day? Undeposited accounts Which statement is true about Customer Deposits?

Options :

A : Customer Deposits are recorded as a liability.

B : Customer Deposits post to Accounts Receivable.

C : Customer Deposits must be created from a Sales Order.

D : Customer Deposits can be linked to an unapproved Sales Order.

Answer: A

Question 2

Which two are elements unique to setting up Financial Sections in a NetSuite Financial report? (Choose two.)

Options :

A : Formula rows calculate from the row immediately above

B : Each Section can be customized to have multiple account types.

C : Each Financial Section has its own header and summary row.

D : Custom sections are restricted to one account type.

Answer: B,C

Question 3

What are two differences between fixed and dynamic allocation schedules? (Choose two.)

Options :

A : Fixed allocation requires zeroing out the source account

B : Dynamic allocation requires zeroing out the source account.

C : Dynamic allocation schedules must use statistical accounts.

D : Fixed allocation schedules must have predefined weighting that does not change

Answer: C,D

Question 4

Which two options should be selected to create a memorized transaction for the electric bill, which varies in amount each month but will continue until canceled?

Options :

A : Action: Reminder

B : Override Transaction Date

C : Action: Automatic

D : Indefinite

E : Number Remaining

Answer: A,D

Question 5

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

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