NetSuite NETSUITE-ERP-CONSULTANT Online Practice Questions and Exam Preparation

NetSuite NETSUITE-ERP-CONSULTANT Online Questions & Answers

• Question 1:

  One item on a Return Authorization is damaged and will not be added back into Inventory. Which Accounting PReference: needs to be enabled to process the Return Authorization?

  A. Write-Off Account for Returns
  B. Enforce Minimum Quantity on Return Authorizations
  C. Credit in Advance of Vendor Return
  D. Allow Overage on Item Receipts
  B. Enforce Minimum Quantity on Return Authorizations

• Question 2:

  Which NetSuite Managed Bundle automatically provisions VAT/GST tax codes when adding a new country nexus (other than US/Canada)?

  A. International Tax Reports
  B. OneWorld Taxes
  C. Supplementary Tax Calculation
  D. Global Tax Calculator
  D. Global Tax Calculator

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  Explanation/Reference:

  Reference: https://www.netsuite.com/portal/assets/pdf/ds-ns-suitetax.pdf

• Question 3:

  A company is using the Multiple Currencies feature.

  Which account type allows Revalue Open Balance for Foreign Currency Transactions?

  A. Cost of Goods Sold
  B. Income
  C. Expense
  D. Other Current Asset
  B. Income

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  Explanation/Reference:

  Reference: https://www.morganfranklin.com/insights/company-insight/utilizing-netsuites- multicurrency-features/

• Question 4:

  Which statement determines if NetSuite maintains a list of consolidated exchange rates?

  A. Multiple subsidiaries are created with the same currency.
  B. Budget exchange rates must be maintained.
  C. NetSuite OneWorld is implements with multiple base currencies.
  D. The Multiple Currencies feature is turned on.
  C. NetSuite OneWorld is implements with multiple base currencies.

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  Explanation/Reference:

  Reference:

  https://www.netsuite.com/help/helpcenter/en_US/srbrowser/Browser2016_2/schema/record /currency.html

• Question 5:

  If Advanced Shipping is enabled, which statement is true about crediting a Vendor Return?

  A. A bill credit for the item amount can be created before shipment.
  B. A bill credit for the amount of the item can only be created after shipment.
  C. A bill credit cannot be created if the credit is not equal to the amount of the item being shipped.
  D. A bill credit is automatically created when a Vendor Return Authorization is created.
  B. A bill credit for the amount of the item can only be created after shipment.

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  Explanation/Reference:

  Reference: https://www.bistasolutions.com/resources/blogs/netsuite-supply-chain- management/

• Question 6:

  What impact does the manager commission schedule have on the commissions a Manager receives?

  A. Manager schedules have no impact on the commission the Manager receives. It is only used for reporting purposes.
  B. Manager schedules calculate commission for Sales Managers based on the sales they make only. Employee commissions do not affect the Manager.
  C. Manager schedules calculate commission for Sales Managers based on the sales made by Sales Reps they supervise as well as the sales they make directly.
  D. Manager schedules calculate commission for Sales Managers based on the sales made by all Sales Reps regardless of reporting structure as well as the sales they make directly.
  C. Manager schedules calculate commission for Sales Managers based on the sales made by Sales Reps they supervise as well as the sales they make directly.

• Question 7:

  Which statements are true about Multiple Currencies and Vendors? (Choose two.)

  A. Adds a Currencies subtab to vendor records under the Financial subtab
  B. Changes the Currency field on vendor records to Primary Currency
  C. Enables you to define purchase and sale prices in other currencies on item records
  D. Makes the Currency field on purchase and sale transactions editable
  A. Adds a Currencies subtab to vendor records under the Financial subtab
  B. Changes the Currency field on vendor records to Primary Currency

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  Explanation/Reference:

  Reference: https://docs.oracle.com/cd/E60665_01/netsuitecs_gs/NSVEN/NSVEN.pdf

• Question 8:

  Which accounting impacts result from building an assembly? (Choose two.)

  A. Increase Asset accounts of the Assembly item's components
  B. Decrease Asset accounts of the Assembly item's components
  C. Decrease Cost of Goods Sold account of the Assembly Item
  D. Increase Cost of Goods Sold accounts of the Assembly item's components
  E. Increase Asset account of the Assembly Item
  C. Decrease Cost of Goods Sold account of the Assembly Item
  E. Increase Asset account of the Assembly Item

• Question 9:

  Which statement is true when configuring the default Vendor Prepayment Account?

  A. The Vendor Prepayment Account set at the subsidiary level takes precedence over the Vendor Prepayment Account set at the company level.
  B. The Vendor Prepayment Account set at the company level takes precedence over the Vendor Prepayment Account set at the subsidiary level.
  C. The Vendor Prepayment Account set at the subsidiary level takes precedence over the Vendor Prepayment Account set at the vendor level.
  D. The Vendor Prepayment Account set at the vendor level takes precedence over the Vendor Prepayment Account set at the subsidiary level.
  A. The Vendor Prepayment Account set at the subsidiary level takes precedence over the Vendor Prepayment Account set at the company level.

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  Explanation/Reference:

  Reference: https://jcurvesolutions1.zendesk.com/hc/en-us/articles/900000858546--Setting- Up-Vendor-Prepayments

• Question 10:

  Which statement is true about item pricing?

  A. Item pricing only uses Custom Pricing.
  B. Item pricing may be set per Item Class.
  C. Item pricing may be imported via CSV.
  D. Item pricing may be set per Customer Category.
  D. Item pricing may be set per Customer Category.