EXAM 2 - CLASSIFICATIONS /SUBSIDIARIES

Description

EXAM 2 - CLASSIFICATIONS/SUBSIDIARIES
kristinephil558
Quiz by kristinephil558, updated more than 1 year ago More Less
kristinephil558
Created by kristinephil558 about 8 years ago
kristinephil558
Copied by kristinephil558 about 8 years ago
1004
21

Resource summary

Question 1

Question
Per-Line classifications and mandatory classifications can be enabled through:
Answer
  • Setup > Accounting > Accounting Preferences
  • Setup > Company > Enable Features
  • Setup Company > Company Information
  • Setup > Accounting > Invoicing Preferences

Question 2

Question
When 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.
Answer
  • True
  • False

Question 3

Question
When data is displayed for a single subsidiary, the base currency of the company is used for amounts.
Answer
  • True
  • False

Question 4

Question
When consolidated data is displayed for multiple related subsidiaries, what currency is used for amounts?
Answer
  • Base currency of the company
  • Base currency of the subsidiary
  • Base currency of the parent subsidiary
  • Individual currency of related subsidiaries

Question 5

Question
Consolidated reports use the ____________________ to translate child subsidiaries' amounts to roll up into consolidated parent subsidiary amounts.
Answer
  • Currency Exchange Rates table
  • Consolidated Exchange Rates table
  • Parent Subsidiary's currency
  • Base currency of the company

Question 6

Question
An entity can be assigned to multiple subsidiaries.
Answer
  • True
  • False

Question 7

Question
If a customer or other entity has relationships with multiple subsidiaries,what record should the user create?
Answer
  • Parent Record
  • Partner record
  • Sub-entity record
  • Not possible

Question 8

Question
After a transaction has posted for the entity, you cannot change the subsidiary selected on the entity record.
Answer
  • True
  • False

Question 9

Question
You 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.
Answer
  • G/L only subsidiaries
  • Operating subsidiaries
  • Operating subsidiaries
  • G/L only subsidiaries

Question 10

Question
A _____________________ is the currency in which a subsidiary manages its financials.
Answer
  • Company Currency
  • Transaction currency
  • Base currency
  • NetSuite Currency

Question 11

Question
After 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.
Answer
  • child subsidiary
  • elimination subsidiary
  • parent subsidiary
  • multiple subsidiaries

Question 12

Question
An elimination subsidiary can be a parent subsidiary.
Answer
  • True
  • False
Show full summary Hide full summary

Similar

The conquest of Makkah (revision)
saimashahzad11@gmail.com sheeza11
fiume part 2
veri.gromiec0205
GCSE PE - 2
lydia_ward
Novidades: Mapas Mentais de ExamTime
miminoma
BIOLOGY HL DEFINITIONS IB
Luisa Mandacaru
Physics 1A - Energy
Zaki Rizvi
Japanese Hiragana
pangcaberte
The Circulatory System
Johnny Hammer
What are they doing?
Tamara Urzhumova
1PR101 2.test - Část 20.
Nikola Truong
Část 2.
Gábi Krsková