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EXAM 2 - CLASSIFICATIONS/SUBSIDIARIES

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kristinephil558
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EXAM 2 - CLASSIFICATIONS /SUBSIDIARIES

Question 1 of 12

1

Per-Line classifications and mandatory classifications can be enabled through:

Select one of the following:

  • Setup > Accounting > Accounting Preferences

  • Setup > Company > Enable Features

  • Setup Company > Company Information

  • Setup > Accounting > Invoicing Preferences

Explanation

Question 2 of 12

1

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.

Select one of the following:

  • True
  • False

Explanation

Question 3 of 12

1

When data is displayed for a single subsidiary, the base currency of the company is used for amounts.

Select one of the following:

  • True
  • False

Explanation

Question 4 of 12

1

When consolidated data is displayed for multiple related subsidiaries, what currency is used for amounts?

Select one of the following:

  • Base currency of the company

  • Base currency of the subsidiary

  • Base currency of the parent subsidiary

  • Individual currency of related subsidiaries

Explanation

Question 5 of 12

1

Consolidated reports use the ____________________ to translate child subsidiaries' amounts to roll up into consolidated parent subsidiary amounts.

Select one of the following:

  • Currency Exchange Rates table

  • Consolidated Exchange Rates table

  • Parent Subsidiary's currency

  • Base currency of the company

Explanation

Question 6 of 12

1

An entity can be assigned to multiple subsidiaries.

Select one of the following:

  • True
  • False

Explanation

Question 7 of 12

1

If a customer or other entity has relationships with multiple subsidiaries,what record should the user create?

Select one of the following:

  • Parent Record

  • Partner record

  • Sub-entity record

  • Not possible

Explanation

Question 8 of 12

1

After a transaction has posted for the entity, you cannot change the subsidiary selected on the entity record.

Select one of the following:

  • True
  • False

Explanation

Question 9 of 12

1

Select from the dropdown lists to complete the text.

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 ( G/L only subsidiaries, Operating subsidiaries ). Purchase ( Operating subsidiaries, G/L only subsidiaries ) for those where you record transactions.

Explanation

Question 10 of 12

1

A _____________________ is the currency in which a subsidiary manages its financials.

Select one of the following:

  • Company Currency

  • Transaction currency

  • Base currency

  • NetSuite Currency

Explanation

Question 11 of 12

1

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.

Select one of the following:

  • child subsidiary

  • elimination subsidiary

  • parent subsidiary

  • multiple subsidiaries

Explanation

Question 12 of 12

1

An elimination subsidiary can be a parent subsidiary.

Select one of the following:

  • True
  • False

Explanation

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