NetSuite NetSuite Financial User Practice Exams
Last updated on Oct 21,2026- Exam Code: NetSuite Financial User
- Exam Name: NetSuite Financial User Certification
- Certification Provider: NetSuite
- Latest update: Oct 21,2026
Question #41
How are fiscal calendars used by subsidiaries?
- A . Each subsidiary may use its own fiscal calendar.
- B . Each period may be closed separately in each subsidiary.
- C . Each period must be locked in each subsidiary separately.
- D . Parent-Child subsidiaries must use the same fiscal calendar
Correct Answer: A
Question #42
What are two characteristics of setting up Bank Accounts? (Choose 2)
- A . A bank account must belong to only one subsidiary
- B . A bank account can be held in multiple currencies
- C . A bank account can be shared by multiple subsidiaries
- D . A bank account must be held in one currency only
Correct Answer: A.D
Question #43
What are two considerations for managing multiple fiscal calendars? Choose two
- A . Periods are created separately for each fiscal calendar
- B . A subsidiary can have multiple fiscal calendars without multi-Book
- C . A fiscal calendar can be used by multiple subsidiaries
- D . Periods are shared across fiscal calendars.
Correct Answer: C.D
Question #44
Which three statements are true about using Parent Accounts in NetSuite? (Choose Three)
- A . Checking the Summary box allows the posting of reversing journal entries to this account.
- B . Child accounts are created by setting the "Subaccount of" field
- C . Checking the Summary box on the account record prevents anyone from posting activity to the account
- D . Parent accounts are created by setting the "Parent of" field
- E . Parent accounts can be posting or non-posting.
Child accounts are created by setting the "Subaccount of" field
Correct Answer: C.E
Question #45
What is one characteristic of Elimination Journal Entries?
- A . They are posted to only one subsidiary.
- B . They are the same as Intercompany Journal Entries.
- C . They are approved automatically when entered manually.
- D . They are used to transfer profit from one subsidiary to another Alternative Answers:
Correct Answer: A
Question #46
On which financial statement are invoices summarized?
- A . Balance sheet
- B . GL
- C . Income Statement
- D . AP Aging
Correct Answer: A
Question #47
Which statement is true about setting up NetSuite budgets?
- A . Copying budgets is not recommended.
- B . Budgets can be imported into NetSuite using CSV.
- C . Budgets must be created manually in the NetSuite user interface.
- D . Budgets can be created for multiple criteria, but only one per parameter.
Correct Answer: B
Question #48
Which two statements are true about intercompany expense allocations? (Choose two.)
- A . The target must be one subsidiary
- B . The source must be one subsidiary
- C . The target can be multiple subsidiary
- D . The source can be multiple subsidiary
Correct Answer: C.D
Question #49
which statement is true about assigning a billing schedule to an item record?
- A . it forces all the lines on sales order to have billing schedule
- B . it requires that items on the same sales order have billing schedule of some kind
- C . it requires that all items on the sales order used same billing schedule
- D . it ensures that item will always have the billing default in correctly on the sales order
Correct Answer: D
Question #50
Which is recommended for setting up new accounting periods?
- A . use one-day year end adjustment period for year-end closing journal entries to retained earnings
- B . create accounting period one at a time to avoid multiple open periods
- C . Use set-up full year to generate all periods at once for full year
- D . set up new year and new quarter at the beginning of the fiscal year
Correct Answer: C