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

NetSuite NETSUITE-ERP-CONSULTANT Online Questions & Answers

• Question 1:

  Identify the steps for valuing an inventory item using the Standard Cost Costing method?

  1.

  Rollup Standard Costs.

  2.

  Enter Standard Cost at sublist level.

  3.

  Revalue inventory and update Standard Costs.

  A. 2, 3, 1
  B. 3, 1, 2
  C. 1, 3, 2
  D. 2, 1, 3
  D. 2, 1, 3

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  explanation:

  Explanation/Reference:

  Reference: https://netsuitedocumentation1.gitlab.io/netsuitedocumentation1/ItemRecordManagement.p df (96)

• Question 2:

  A company wants to confirm that they can track inventory.

  Which segment allows tracking product categories at the inventory level?

  A. Class
  B. Custom Segment
  C. Location
  D. Department
  A. Class

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  explanation:

  Explanation/Reference:

  Reference: https://www.netsuite.com/portal/resource/articles/inventory-management/abc- inventory-analysis.shtml

• Question 3:

  Which statement is true regarding Bin Management on item records?

  A. Users can designate more than one preferred bin per location.
  B. When adding bins to an item record, only one bin can be associated per location.
  C. Users can associate multiple items with one bin and multiple bins with one item.
  D. Bin records cannot be associated to Assembly and Matrix item types.
  A. Users can designate more than one preferred bin per location.

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  explanation:

  Explanation/Reference:

  Reference: https://netsuiteguru.blogspot.com/p/bin.html

• Question 4:

  Which feature allow you to record the invoice for an entire sales order, even if all items on the order are not shipped?

  A. Advanced Billing
  B. Advanced Shipping
  C. Advanced Inventory Management
  D. Advanced Receiving
  B. Advanced Shipping

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  explanation:

  Explanation/Reference:

  Reference: https://docs.oracle.com/en/cloud/saas/netsuite/ns-online- help/chapter_N1215966.html

• Question 5:

  A purchasing department needs to track defective items that are returned to the vendor for replacement or credit. What two settings need to be configured in NetSuite?

  A. Enable the Vendor Return Authorizations feature
  B. Enable the Credit in Advance of Vendor Return preference
  C. Use the standard Vendor Activity report.
  D. Customize the Inventory Activity Detail to filter by transaction type, and add column for Vendor RMA status.
  E. Customize the A/P Register to filter by transaction type Vendor Returns, and add a column for Item Name.
  A. Enable the Vendor Return Authorizations feature
  C. Use the standard Vendor Activity report.

• Question 6:

  What is the impact of enabling the Limit Vendor List on Items preference?

  A. All vendors are available on the Vendor Bills and Order Items pages.
  B. Only vendors associated with an item display in the Vendor list.
  C. Only vendors with previous transactions display on the Order Items page.
  D. Only vendors marked as a Project Resource display in the Vendor list.
  B. Only vendors associated with an item display in the Vendor list.

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  explanation:

  Explanation/Reference:

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

• Question 7:

  A company that uses FIFO costing method is going live.

  Which transaction best captures the time-based nature of inventory cost?

  A. Adjust Inventory Worksheet
  B. Item Fulfillment
  C. Inventory Allocation
  D. Adjust Inventory
  D. Adjust Inventory

• Question 8:

  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:

  Explanation/Reference:

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

• Question 9:

  Which action allows you to view a custom field on the header level of a transaction record?

  A. Assign the custom field to the first subtab.
  B. Once created, the custom field automatically displays on the header level.
  C. Assign the custom field to the Header subtab.
  D. Leave custom field's subtab blank.
  E. Assign the custom field to the Main subtab.
  A. Assign the custom field to the first subtab.

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  explanation:

  Explanation/Reference:

  Reference: https://blog.concentrus.com/how-to-use-custom-record-types-in-netsuite

• Question 10:

  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:

  Explanation/Reference:

  Reference:

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