Quiz
EXAM 2 - CLASSIFICATIONS /SUBSIDIARIES
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Questions in this quiz (12)
1Per-Line classifications and mandatory classifications can be enabled through:
- ASetup > Accounting > Accounting Preferences
- BSetup > Company > Enable Features
- CSetup Company > Company Information
- DSetup > Accounting > Invoicing Preferences
2When you select a consolidated subsidiary on a report, data is displayed for the selected subsidiary and for all of its child subsidiaries including elimination subsidiaries.
- ATrue
- BFalse
3When data is displayed for a single subsidiary, the base currency of the company is used for amounts.
- ATrue
- BFalse
4When consolidated data is displayed for multiple related subsidiaries, what currency is used for amounts?
- ABase currency of the company
- BBase currency of the subsidiary
- CBase currency of the parent subsidiary
- DIndividual currency of related subsidiaries
5Consolidated reports use the ____________________ to translate child subsidiaries' amounts to roll up into consolidated parent subsidiary amounts.
- ACurrency Exchange Rates table
- BConsolidated Exchange Rates table
- CParent Subsidiary's currency
- DBase currency of the company
6An entity can be assigned to multiple subsidiaries.
- ATrue
- BFalse
7If a customer or other entity has relationships with multiple subsidiaries,what record should the user create?
- AParent Record
- BPartner record
- CSub-entity record
- DNot possible
8After a transaction has posted for the entity, you cannot change the subsidiary selected on the entity record.
- ATrue
- BFalse
9You can purchase two different types of subsidiaries for your NetSuite OneWorld account. If you have subsidiaries to which you book journal entries only for reconciliation purposes, you can purchase [blank_start]G/L only subsidiaries[blank_end]. Purchase [blank_start]operating subsidiaries[blank_end] for those where you record transactions.
- AG/L only subsidiaries
- BOperating subsidiaries
- COperating subsidiaries
- DG/L only subsidiaries
10A _____________________ is the currency in which a subsidiary manages its financials.
- ACompany Currency
- BTransaction currency
- CBase currency
- DNetSuite Currency
11After you have diagrammed a hierarchy of subsidiaries representing all legal entities in your organization, you should include one _______________________ as a child of each parent subsidiary. This should use the same base currency of the parent subsidiary.
- Achild subsidiary
- Belimination subsidiary
- Cparent subsidiary
- Dmultiple subsidiaries
12An elimination subsidiary can be a parent subsidiary.
- ATrue
- BFalse
Information
- Description
- EXAM 2 - CLASSIFICATIONS/SUBSIDIARIES
- Author
- kristinephil558
- Language
- English
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