N16599GC10 by Oracle Valid Free Exam Practice Test

Question 1

What does the setting "Accept Payment at Top Level Customer" allow for?

A. Allows Refunds and Credits at parent level. B. Sub customers cannot pay their own bills C. Customers may pay the bills of Sub customers D. Sub customers may pay the bills of their parent

Correct Answer: C

Question 2

Which 3 statements are true about parent accounts in NetSuite (choose 3)?

A. parent accounts are created by setting the "parent of" field B. checking the summary box allows the posting of reversing journal entries to this account C. parent accounts can be posting or not posting D. child accounts are created by setting the subaccount of field E. checking the summary box on the account record prevents anyone from posting activity to the account

Correct Answer: B,D,E

Question 3

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

A. post a write check transaction B. Enter on the new charge's subtab C. post journal entry D. enter on the new deposit subtab

Correct Answer: D

Question 4

Which statement is true about NS budgets?

A. Budgets must be answered manually B. Budgets can only be created for income and expense accounts C. Multiple budgets can be created for same year and criteria D. Budget Hold setting for expense accounts will prevent overspending

Correct Answer: C

Question 5

Bank accounts interact with subsidiaries?

A. can be linked with any number of subsidiaries in parent: child relationship B. can be linked up to 2 subsidiaries C. Must be linked with 1 subsidiary D. can be linked with no limit to multiple subsidiary

Correct Answer: C

Question 6

Which statement is true about Accept Customer Payment?

A. Customer Payments post to Undeposited Funds when payment is questionable. B. Customer Payment and Customer Deposit are different terms for the same transaction. C. Customer Payments and Cash Sales have the same GL Impact. D. A single customer payment can be applied to multiple invoices.

Correct Answer: D

Question 7

What are two characteristics of setting up Bank Accounts? (Choose 2)

A. A bank account must belong to only one subsidiary B. A bank account must be held in one currency only C. A bank account can be shared by multiple subsidiaries D. A bank account can be held in multiple currencies

Correct Answer: A,B

Question 8

Which two account types can be used to Pay Vendor Bills? (Choose two)

A. Non-Posting B. Expense C. Asset D. Bank E. Credit Card

Correct Answer: D,E

Question 9

What is the correct order of steps for the standard accounts payable process?
Purchase Order > Receive Item > Bill PO > Pay Vendor
Which statement is true about Vendors and multiple currencies?

A. Vendors assigned to more than one subsidiary must use multiple currencies B. The currency on the purchase order can be changed until a vendor bill is created C. A Vendor Bill must be created in the same currency as the Purchase Order D. Vendors assigned to only one subsidiary can use only one currency

Correct Answer: C

Oracle NetSuite Financial User - N16599GC10 Exam Practice Test