TAKE NetSuite Exams N16599GC10 PRACTICE QUESTIONS FOR AMAZING RESULTS [Q26-Q45]

TAKE NetSuite Exams N16599GC10 PRACTICE QUESTIONS FOR AMAZING RESULTS

 Oracle N16599GC10 Exam Dumps Are Essential To Get Good Marks

Oracle N16599GC10 Exam Syllabus Topics:

Topic	Details
Topic 1	Accounts Payable: This section of the exam measures skills of Accounts Payable Specialists and covers the NetSuite accounts payable process. It includes setting up vendor records, creating purchase orders, processing bills, and executing vendor payments. Candidates are evaluated on their ability to manage payables efficiently within standard NetSuite workflows.
Topic 2	Accounts Receivable: This section of the exam measures skills of Accounts Receivable Specialists and covers the end-to-end NetSuite accounts receivable process flow. It evaluates knowledge of customer record setup, invoice creation, customer payments, and deposits. The section also tests understanding of the general ledger impact of receivable transactions and best practices in managing customer-related financial operations.
Topic 3	Financial Reports and KPIs: This section of the exam measures the skills of Financial Reporting Analysts and covers building and interpreting financial reports using NetSuite Financial Report Builder Interface. It focuses on understanding how transactions impact reports and how to track financial performance through key performance indicators (KPIs).
Topic 4	Expense Allocations: This section of the exam measures the skills of Cost Accountants and covers setting up and managing expense allocations in NetSuite. It includes distinguishing between fixed and dynamic allocation modes and applying them effectively to distribute costs across departments or subsidiaries.
Topic 5	Journal Entries: This section of the exam measures the skills of General Ledger Accountants and covers the creation and management of journal entries. It includes differentiating between elimination and intercompany journal entries and understanding their setup and use within NetSuite financial structure.
Topic 6	Budgeting: This section of the exam measures the skills of Financial Planning Analysts and focuses on creating and reporting budgets in NetSuite. It evaluates the ability to develop accurate financial forecasts and use built-in budgeting tools to support business planning and reporting.
Topic 7	Banking and Payment Processing: This section of the exam measures skills of Treasury Analysts and covers managing default banking transactions in NetSuite. It involves setting up cash and bank accounts, processing payments, and reconciling monthly bank and credit card statements. The focus is on maintaining accuracy and compliance in financial reconciliation.
Topic 8	Period and Year-End Close: This section of the exam measures the skills of Accounting Managers and covers best practices for closing accounting and tax periods in NetSuite. It includes managing multiple subsidiaries, handling separate fiscal calendars, and ensuring accurate and compliant financial closure processes.
Topic 9	Subsidiaries, Classifications, Chart of Accounts: This section of the exam measures skills of Financial Systems officers and covers understanding subsidiaries, their types, and their role in financial management within NetSuite. It includes knowledge of classifications such as departments, classes, and locations, and how they affect transactions and reporting. Candidates are also assessed on managing the chart of accounts, setting account types, and applying access restrictions appropriately.

 

NEW QUESTION # 26
Which statement is true about NS budgets?

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

Answer: A

NEW QUESTION # 27
Which two statement are true about setting up the intercompany expense allocation (choose 2)

• A. the target can only be one subsidiary
• B. The source must be one subsidiary
• C. The target may be multiple subsidiaries
• D. the source may be multiple subsidiary

Answer: C,D

NEW QUESTION # 28
Which Two accounts have dedicated reconciliation page in NS?

• A. Fixed Asset
• B. Sales Tax Liability
• C. Credit Card
• D. Bank

Answer: C,D

NEW QUESTION # 29
Which two statements are true about Invoices in NetSuite? (Choose two)

• A. Invoices can be assigned to Sales Orders after the Invoice has been created.
• B. Multiple Sales Orders can generate one Invoice.
• C. The Electronic Invoicing SuiteApp allows sending of individual invoices or batches.
• D. Invoices can be created without reference to a Sales Order.

Answer: C,D

NEW QUESTION # 30
How are fiscal calendars used by subsidiaries?

• A. Each period must be locked in each subsidiary separately.
• B. Each period may be closed separately in each subsidiary.
• C. Parent-Child subsidiaries must use the same fiscal calendar
• D. Each subsidiary may use its own fiscal calendar.

Answer: D

NEW QUESTION # 31
What is one characteristic of Elimination Journal Entries?

• A. They are posted to only one subsidiary.
• B. They are used to transfer profit from one subsidiary to another
• C. They are approved automatically when entered manually.
• D. They are the same as Intercompany Journal Entries.

Answer: A

Explanation:
Alternative Answers:

NEW QUESTION # 32
Which statement is true about billing a purchase order in NetSuite?

• A. Standalone bills containing inventory line items have no inventory account impact
• B. Only approved vendor bills post to the general ledger
• C. Vendor bills post to the general ledger, whether approved or not
• D. All bills must be created from a PO

Answer: B

NEW QUESTION # 33
Which setting requires separate review of sales orders?

• A. Pending fulfillment status
• B. Pending Billing status
• C. Credit Limit
• D. Pending approval status

Answer: D

NEW QUESTION # 34
What two transactions cause a Bill Variance journal entry to be posted?

• A. purchase requisition
• B. Vendor bill
• C. purchase order
• D. bill payment
• E. Item receipt

Answer: D,E

NEW QUESTION # 35
Which statement is true about budgets in NetSuite?

• A. budgets can only be created for income and expense accounts
• B. budgets hold setting for expenses will prevent overspending
• C. Multiple budgets can be created for the same year and criteria
• D. budgets must be entered manually

Answer: C

NEW QUESTION # 36
Which statement is true about Accept Customer Payment?

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

Answer: C

NEW QUESTION # 37
What are two characteristics of setting up Bank Accounts? (Choose 2)

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

Answer: B,C

NEW QUESTION # 38
To which account should the customer payments be posted, to consolidate all customer payments recorded through the day into one bank deposit at the end of the day?

• A. Bank account
• B. accounts receivable
• C. undeposited funds
• D. customer deposits

Answer: C

NEW QUESTION # 39
Which is recommended for setting up new accounting periods?

• A. Use set-up full year to generate all periods at once for full year
• B. use one-day year end adjustment period for year-end closing journal entries to retained earnings
• C. set up new year and new quarter at the beginning of the fiscal year
• D. create accounting period one at a time to avoid multiple open periods

Answer: A

NEW QUESTION # 40
Which two statements are true about Vendors in a One World account? (Choose two.)

• A. Vendors can be assigned to multiple subsidiaries.
• B. Vendors can only be assigned to one subsidiary.
• C. There is one Credit Limit value per Vendor.
• D. Vendors can have multiple currencies.

Answer: A,D

NEW QUESTION # 41
Which two transactions containing inventory items will post to COGS? (Choose two)

• A. Item Fulfillment
• B. Invoices created from Sales Orders
• C. Standalone invoices
• D. Item Return

Answer: A,C

NEW QUESTION # 42
What are two considerations for managing multiple fiscal calendars? (Choose 2)

• A. a subsidiary can have multiple fiscal calendars without multi-book
• B. Periods are created separately for each fiscal calendar
• C. A fiscal calendar can be used by multiple subsidiaries
• D. Periods are shared across fiscal calendars

Answer: C,D

NEW QUESTION # 43
Which statement is true about inter-company journal entries?

• A. balance within each subsidiary, they need not balance between subsidiaries
• B. maximum of six lines
• C. Minimum of four lines
• D. used to log intercompany eliminations

Answer: A

NEW QUESTION # 44
What is the significance of the Account Type for any given account?

• A. It determines the exchange rate on posted transactions.
• B. It controls access by users
• C. It determines the default section in financial statements
• D. It affects the subsidiary assignment.

Answer: C

NEW QUESTION # 45
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