Practice with N16599GC10 Dumps for NetSuite Exams Certified Exam Questions & Answer [Q46-Q65]

Practice with N16599GC10 Dumps for NetSuite Exams Certified Exam Questions & Answer

REAL N16599GC10 Exam Questions With 100% Refund Guarantee

Oracle N16599GC10 Exam Syllabus Topics:

Topic	Details
Topic 1	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 2	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 3	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 4	Billing Schedules: This section of the exam measures skills of Billing Analysts and covers the configuration and use of billing schedules in NetSuite. It focuses on creating, managing, and applying billing schedules accurately to automate recurring invoicing and streamline the billing process.
Topic 5	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 6	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 7	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 # 46
Which account in a general ledger is being cleared when Make Deposits transaction is used?

A. Accounts Payable
B. Accounts Receivable
C. Customer Deposits
D. Undeposited Funds

Answer: D

NEW QUESTION # 47
Which two boxes must be used to reverse the journal entry next month (choose 2)

A. memo
B. pending approval
C. Reversal date
D. do not post until
E. Defer entry

Answer: C,E

NEW QUESTION # 48
Which statement is true about NS budgets?

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

Answer: C

NEW QUESTION # 49
What is true about approving Journal Entries?

A. Journal Entries post to the general ledger while pending approval
B. Approving Journal Entries requires a separate permission from Creating Journal Entries
C. Approve Journals permission allows you to see all journals in all subsidiaries
D. The posting period is based upon the journal entry creation date, rather than the approval date

Answer: B

NEW QUESTION # 50
What are two differences between fixed and dynamic allocation schedules? (Choose two.)

A. Fixed allocation schedules must have predefined weighting that does not change
B. Dynamic allocation schedules must use statistical accounts.
C. Dynamic allocation requires zeroing out the source account.
D. Fixed allocation requires zeroing out the source account.

Answer: A,B

NEW QUESTION # 51
Which two statements are true about Invoices in NetSuite? (Choose two)

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

Answer: A,C

NEW QUESTION # 52
Which expense allocation use case requires the use of statistical accounts?

A. Division of recruiting based upon headcount
B. static division of rent-based location
C. predefined split of marketing costs among sales channels
D. even 50/50 split of receptionist salary based on department

Answer: A

NEW QUESTION # 53
How can the financial reports be kept separate when tracking finances for two wholly owned but distinct legal entities in one NetSuite account?

A. use separate fiscal calendars
B. use subsidiaries
C. use classes
D. use the multi-book accounting feature

Answer: B

NEW QUESTION # 54
Which two options are possible to set in NetSuite? (Choose Two)

A. Prevent Sales Orders being entered for Customers over their credit limit
B. Allow Estimates/Quote for customers over their Credit Limit but show a warning to the person entering the order.
C. Allow Sales orders for customers over their credit limit, but show a warning to the person entering the order
D. Prevent fulfillment of a Sales Order for Customers over their Credit Limit

Answer: A,C

NEW QUESTION # 55
What is an example of a subsidiary?

A. The direct sales division
B. A wholly owned company
C. A clearing account
D. A warehouse

Answer: B

NEW QUESTION # 56
Write Check transaction and a Pay Vendor transaction the difference?

A. only write checks reduces AP
B. only pay vendor bill post to the general ledger
C. only pay vendor bill reduces AP
D. only write checks is from bank account

Answer: D

NEW QUESTION # 57
Which statement is true about Local versus Global budgets?

A. Local budget can be entered in the currency of the parent or the child subsidiary.
B. Budgets are automatically converted in reports to show in the currency context being viewed.
C. It is recommended that either a Global or a Local budget should be used, rather than both types.
D. Global budgets can be entered in the currency of the parent or the child subsidiary.

Answer: B

NEW QUESTION # 58
What is the significance of the Account Type for any given account?

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

Answer: D

NEW QUESTION # 59
What is the simplest way to post interest accrued while using the Reconcile Bank Statement page?

A. Use the New Deposits subtab
B. Use the New Charges subtab
C. Post a Write Check transaction
D. Post a Journal Entry

Answer: A

NEW QUESTION # 60
Which two account types can be used to Pay Vendor Bills? (Choose two)

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

Answer: A,C

NEW QUESTION # 61
Which Two accounts have dedicated reconciliation page in NS?

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

Answer: A,C

NEW QUESTION # 62
How does NetSuite set up a company record when you buy from and sell to the same company?

A. NetSuite uses a single company record to track this combined relationship
B. either the vendor or the customer can be set as "Parent of" the other record to link them
C. NetSuite uses unrelated customer and vendor records to track these
D. NetSuite tracks this using the "Other relationship" functions to link the customer and vendor records

Answer: D

NEW QUESTION # 63
Which statement is true about NetSuite Accounts Payable transactions?

A. Vendor Bills must be created from a Purchase Order.
B. Bill Purchase Orders page will allow you to generate bills from multiple vendors at once.
C. Paying an Unapproved Bill will cause both Bill and Payment to post to the general ledger.
D. Purchase Orders must have a preceding Purchase Requisition.

Answer: B

NEW QUESTION # 64
Which statement is true about Accept Customer Payment?

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

Answer: B

NEW QUESTION # 65
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