NetSuite-Financial-User Practice Questions| TestInsights

Question 1

Which two statements are true about budgets in NetSuite? (Choose two.)

ABudgets can use statistical accounts

BBudgets set to 'Enforce' prevent overspending.

CGlobal budget amounts may fluctuate when viewed in root parent currency.

DLocal budget amounts may fluctuate when consolidated to parent subsidiary view.

Correct : A, D

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ABudgets can use statistical accounts

BBudgets set to 'Enforce' prevent overspending.

CGlobal budget amounts may fluctuate when viewed in root parent currency.

DLocal budget amounts may fluctuate when consolidated to parent subsidiary view.

Question 2

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

AFixed allocation requires zeroing out the source account.

BDynamic allocation requires zeroing out the source account.

CDynamic allocation schedules must use statistical accounts.

DFixed allocation schedules must have predefined weighting that does not change

Correct : C, D

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AFixed allocation requires zeroing out the source account.

BDynamic allocation requires zeroing out the source account.

CDynamic allocation schedules must use statistical accounts.

DFixed allocation schedules must have predefined weighting that does not change

Question 3

How can an Expense Allocation Schedule be set up to dynamically recalculate weighting each time it is applied?

AUse custom segments

BUse a statistical account

CClick the Update Sample Weights button.

DPredefine the weighting when setting up the schedule

Correct : D

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AUse custom segments

BUse a statistical account

CClick the Update Sample Weights button.

DPredefine the weighting when setting up the schedule

Question 4

Which expense allocation use case requires the use of statistical accounts

AStatic division of rent based on location

BDivision of recruiting based on headcount

CPredefined split of marketing costs among sales channels

DEven 50/50 split of receptionist salary based on department

Correct : B

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AStatic division of rent based on location

BDivision of recruiting based on headcount

CPredefined split of marketing costs among sales channels

DEven 50/50 split of receptionist salary based on department

Question 5

Which report shows the total value of current assets?

ABalance Sheet

BGeneral Ledger

CProfit and Loss / Income Statement

DCash Flow Statement

Correct : A

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ABalance Sheet

BGeneral Ledger

CProfit and Loss / Income Statement

DCash Flow Statement

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