Quiz
ERP Consultant Exam Prep - Fundamentals
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Perguntas do quiz (41)
1What is the functionality behind the 'Multiple Prices' feature?
(Sales and Billing Features)- AAllows users to add multiple prices for one item on a transaction
- BGives the ability to setup a default price level per customer for item
- CGives users the chance to change an item cost last minute
2Who can confirm the enabling of the sales and billing features?
(Sales and Billing Features)- APurchasing Manager
- BAdministrator
- CBook keeper of Accounts
3What is the functionality behind the 'Quantity Pricing' feature?
(Sales and Billing Features)- AWith this feature enabled you can add price levels by quantity and offer a discounted rate.
- BYou can not add quantity price levels which has been set as a feature by default.
- CQuantity pricing allows costs to be easily added together by staff members.
4Which costing methods are using in NetSuite?
- AFIFO
- BLIFO
- CAverage
- DStandard
- EGroup Average
- FGrouping
- GSchedules
5Which item type should be used for items such as Software?
- AKit
- BAssembly/Group
- CInventory Item
- DNon-Inventory Item
6You should plan costing methods prior to creating items as once the item has been setup with a costing method, it can NOT be changed?
- AVerdadeiro
- BFalso
7Customers who sell physical inventory should utilize units of measure to provide greater flexibility and accuracy when tracking and selling inventory items?
- AVerdadeiro
- BFalso
8What does it mean to define an Item Strategy?
- AIt is the process of ensuring you have selected the correct item record types, pricing strategies and units of measure, usually prior to using the Item Master.
- BIt is the process of deciding which items should be Kit or Assembly based on the different item types and pricing strategies.
- CTo strategically define items in your own context.
9Item Master - what are the best practices? - 3 answers.
- AFor software or services companies that do not track inventory in NetSuite, always add the fulfillment step, even if you don't need to track fulfillments for reporting purposes.
- BFor software or services companies that do not track their Inventory in NetSuite, add the fulfillment step but only when there is a need to track fulfillment for reporting purposes.
- CSet the "Can be Fulfilled / Received" preference for an item whenever tracking fulfillments.
- DWhile designing the Item Master, create items so that there is minimal need to override the default Billing and Amortization scheduled once the items are added to the transactions.
10What should the Executive Team and Managers consider when defining the item strategy?
- AG/L Accounts (Income, Deferred Revenue, Expenses.
- BItem types (i.e. assembly, kit or group items)
- CInventory item types only
- DItem configurations
11Where can I go to setup the default accounts in NetSuite?
(Accounting Preferences, Items/Transactions)- ACustomization -> Setup -> Accounting -> Accounting Preferences
- BCustomization -> Enable Features -> Accounting -> Items
12The preference "Centralize Purchasing In A Single Warehouse" found under Accounting Preferences works by consolidating purchasing into one location or multiple locations. If you check the box you WON'T receive all stock in one warehouse.
- AVerdadeiro
- BFalso
13In order to set the default Inventory Costing Method, we can go to [blank_start]Setup[blank_end] -> Accounting -> Accounting Preferences -> Cost Accounting -> Inventory Costing Method
- ASetup
- BCustomize
- CLists -> Inventory -> Inventory List
14An account register lists all the transactions impacting that account, and the total balance, for the reporting period selected?
- AVerdadeiro
- BFalso
15Which 3 roles can VIEW Account Registers?
(Chart of Accounts)- ABookkeeper
- BAccountant
- CFinance Leader
- DBusiness Analyst
16Your Chart of Accounts provides a destination for posting transactions and categorizes these transactions for tracking and reporting purposes.
- AVerdadeiro
- BFalso
17Which 2 roles can create Financial or Non-Financial (Statistical) accounts?
(Chart of Accounts)- AAccountant
- BFinance Leader
- CBookkeeper
- DBusiness Analyst
18When selecting the Account Type when setting up a Chart of Account, the General Rate Type is auto-populated based on the Account Type choice. Can this be changed?
- AVerdadeiro
- BFalso
19For Chart of Accounts: If one or more subsidiaries are selected, then the account can only be selected for records and transactions associated with those subsidiaries. True or false?
- AVerdadeiro
- BFalso
20For Chart of Accounts: If a subsidiary is selected, then transactions do NOT post to the account. It is used for reporting purposes only. True or false?
- AVerdadeiro
- BFalso
21More than one subsidiary can be selected for the Account Chart of Accounts?
- AVerdadeiro
- BFalso
22How do you set up automatic bank reconciliation for Chart of Accounts?
- ASelect the appropriate Standing Order Saved Search
- BSelect the 'Automate Bank Reconciliation' field and mark as true
- CUncheck the 'Automate Bank Reconciliation' field so it is marked false
- DIt is done automatically for you.
23If the top-level parent subsidiary is selected and the 'Include Children' checkbox is checked, then all subsidiaries can access the account on the Chart of Accounts?
- AVerdadeiro
- BFalso
24How would you make an Account for Chart of Accounts record solely for reporting purposes?
- ACheck the Summary checkbox
- BCheck the Eliminate Intercompany Transactions
- CCheck the Revalue Open Balance for Foreign Currency Transactions
25For Chart of Accounts - how can we ensure an account is selected for open balance currency revaluation?
- ACheck the Revalue Open Balance for Foreign Currency Transactions box
- BSelect a Cash Flow Rate Type option
- CCheck the Use Confirm Transaction Matches and Reconcile Account Statement Pages
26Custom Segments can be used for reporting purposes and go beyond reporting for just the main three custom segments in NetSuite - Department, Location and Class).
- AVerdadeiro
- BFalso
27In order to create a custom segment you would need to go to:
[blank_start]...[blank_end] -> [blank_start]...[blank_end] > [blank_start]...[blank_end] -> [blank_start]...[blank_end]- A...
- BSetup
- CCompany
- D...
- EEnable Features
- FList, Records & Fields
- GPreferences
- H...
- ICustom Segments
- JOrder Management
- KTransactions
- L...
- MNew
28Which of the following seven options are Account types in NetSuite?
- AAccounts Receivable (Asset/Debit)
- BAccounts Payable (Liability/Credit)
- COther Non-Current Assest (Asset/Debit)
- DOther Asset (Asset/Debit)
- ECosts of Goods Sold (Expense/Debit)
- FCredit Card (Liability/Credit)
- GEquity (Expense/Debit)
- HBank Type (Asset/Debit)
- IUnbilled Receivable (Asset/Debit)
- JOther Mutual Assets (Asset/Debit)
29Bank accounts and credit card accounts are NOT restricted to one subsidiary in NetSuite OneWorld?
- AVerdadeiro
- BFalso
30Which of the following two are the correct statements?
- AAccounts Receivable type will reflect in AR Aging reports.
- BAccounts Receivable type will NOT reflect in AR Aging reports.
- CAccounts Payable type will reflect in AP Aging reports.
- DAccounts Payable type will NOT reflect in AP Aging reports.
31Duplicate account names are not allowed in NetSuite?
- AVerdadeiro
- BFalso
32Subsidiaries are NOT separate, legal entities for the purposes of taxation and regulation.
- AVerdadeiro
- BFalso
33NetSuite Editions are defined on the subsidiary record. Each edition handles country specific taxes (sales and purchases).
Which of these are specific to NetSuite United States (US) - choose 3.- APre-coded tax (State tax imports required)
- BPre-coded tax (State tax imports NOT required)
- CSeparate tax reporting periods
- DNo separate tax reporting periods
- ENo Foreign trade settling
- FForeign trade settling
34NetSuite Editions are defined on the subsidiary record. Each edition handles country specific taxes (sales and purchases).
Which of these are specific to NetSuite Canada (CA) - choose 3.- APre-coded tax, State tax imports required
- BPre-coded tax, GST/PST
- CNo separate tax reporting periods
- DForeign trade settling
- ENo Foreign trade settling
35NetSuite Editions are defined on the subsidiary record. Each edition handles country specific taxes (sales and purchases).
Which of these are specific to NetSuite United Kingdom (UK) - choose 3.- APre-coded tax, tax imports required
- BPre-coded tax, GST/PST
- CSeparate tax reporting periods, provides full EU reporting
- DSeparate tax reporting periods, does not provide full EU reporting
- EForeign trade settling
36NetSuite Editions are defined on the subsidiary record. Each edition handles country specific taxes (sales and purchases).
Which of these are specific to NetSuite Japan (JP) - choose 2.- APre-coded tax, consumption tax
- BPre-coded tax, GST/PST
- CSeparate tax reporting periods, foreign trade settling
- DSeparate tax reporting periods
37NetSuite Editions are defined on the subsidiary record. Each edition handles country specific taxes (sales and purchases).
Which of these are specific to NetSuite Australia (AU) - choose 2.- APre-coded tax, consumption tax
- BPre-coded tax, GST only
- CPre-coded tax, GST/PST
- DSeparate tax reporting periods, foreign trade settling
38NetSuite Editions are defined on the subsidiary record. Each edition handles country specific taxes (sales and purchases).
Which of these are specific to NetSuite International (XX) - choose 3- ANo pre-coded tax - install bundle to configure
- BNo pre-coded tax - upload CSV for configuration
- CSeparate tax reporting periods
- DForeign trade settling
39How many subsidiary records, in addition to the root subsidiary counting as an extra 1 record, can be created?
- A249
- B248
- C250
- D251
40Root company may have many parent and child subsidiaries?
- AVerdadeiro
- BFalso
41One Subsidiary is created for each separate reporting legal entity
- AVerdadeiro
- BFalso
Informações
- Descrição
- Information Technology Quiz sobre ERP Consultant Exam Prep - Fundamentals, criado por Hannah Dearman em 16-02-2022.
- Autor
- Hannah Dearman
- Idioma
- English
- Visualizações
- 473
- Etiquetas
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