Oracle NetSuite Financial User - N16599GC10 Exam Practice Test

Question 1

What is the simplest way to post incurred bank fees while using the Reconcile Bank Statement page?

A. Use the New Charges subtab

B. Post a Journal Entry

C. Post a Write Check transaction

D. Use the New Deposits subtab

Correct Answer: A

Question 2

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?

A. Customer Deposits post to Accounts Receivable.

B. Customer Deposits must be created from a Sales Order.

C. Customer Deposits are recorded as a liability.

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

Correct Answer: C

Question 3

Which account type is non-posting?

A. Other Current Liability

B. Statistical Account-*Statistical accounts are non-monetary accounts that can be used to maintain statistical information for a variety of metrics. For example, a statistical account could be established to maintain the employee headcount by the department in an organization.

C. Unbilled Receivable

D. Deferred Expense

Correct Answer: B

Question 4

What is the order of steps for the NetSuite standard accounts receivable process?

A. Approve Sales Order > Fulfill Sales Order > Bill Sales Order

B. Fulfill Sales Order > Approve Sales Order > Bill Sales Order

C. Approve Sales Order > Bill Sales Order > Fulfill Sales Order

D. Bill Sales Order > Approve Sales Order > Fulfill Sales Order

Correct Answer: A

Question 5

Which statement is true about recording customer payments?

A. Undeposited Funds is not necessary if all your customers pay by credit card.

B. Electronic payments SuiteApp is required to record customer payments by credit card

C. Customer payments must match paid invoices 1:1

D. Accept Customer Payment offsets Accounts Receivable posting

Correct Answer: C

Question 6

The simplest way to post bank service fees ... reconcile bank statement pages?

A. post a write check transaction

B. post journal entry

C. enter on the new deposit subtab

D. Enter on the new charge's subtab

Correct Answer: C

Question 7

When Vendor credits auto-apply, which vendor bills are they applied to?

A. The newest vendor bills

B. The vendor bills with a matching balance

C. The vendor bills with the smallest balance

D. The oldest vendor bills

Correct Answer: D

Question 8

Which statement is true about the Memorized Transactions feature?

A. The Update Prices checkbox allows manual review of the transaction before it is posted.

B. The Remind Me setting allows manual review of the transaction before it is posted.

C. The Number Remaining refers to the quantity of Item ordered remaining to be billed or shipped.

D. The Remind Forever setting sends notice to the Customer that a new Invoice has been created.

Correct Answer: B

Question 9

When entering a journal, which two boxes must be used to reverse the journal entry next month, so that the reversal is not created until then? (Choose Two)

A. Do Not Post Until

B. Pending Approval

C. Memo

D. Reversal Date

E. Defer Entry

Correct Answer: D,E

Oracle NetSuite Financial User - N16599GC10 Exam Practice Test

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