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NetSuite SuiteFoundations Exam Prep Questions with 100% Correct Answers

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NetSuite SuiteFoundations Exam Prep Questions with 100% Correct Answers Which feature allows transacting business with vendors and customers in different currencies - Answer- Multiple Currencies What is base currency? - Answer- Base currency is the currency used for your company's, subsidiarie...

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  • November 12, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • NetSuite SuiteFoundations
  • NetSuite SuiteFoundations

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NetSuite SuiteFoundations Exam
Prep Questions with 100% Correct
Answers
Which feature allows transacting business with vendors and customers in different
currencies - Answer- Multiple Currencies

What is base currency? - Answer- Base currency is the currency used for your
company's, subsidiaries', books

The NetSuite _________________ supports localized handling of taxes - Answer-
NetSuite Edition

True or False: Assemblies, Kits and Item Groups all act the same way in NetSuite -
Answer- False

If I want to sell an item at different prices, I use _________ __________ - Answer- Price
Levels

What type of pricing considers the number of items bought? _____________
__________________ - Answer- Quantity Pricing

Can you name some of the different types of sales orders? ______________
______________ ______________ - Answer- Standard Sales Order - Cash Sale
Standard Sales Order - Invoice
Standard Sales Order
Standard Sales Order - Progress Billing

A _____________ ______________ decreases the amount a customer owes. -
Answer- Credit Memo

True or False: An Invoice is open until paid. - Answer- True

Can I accept money from a customer in advance of an order in the system? If so, how?
- Answer- Yes, Customer Deposit

I received a partial quantity of PO line item, the vendor will never ship the remaining
quantity. How should I handle the PO and billing the PO? - Answer-

, I need more control of purchase orders approvals. What can I do in NetSuite? - Answer-
Turn on Approvals for POs

How can I maintain more control over Vendor Bills and the payment of those bills? -
Answer- Turn on Vendor Bill approvals

I want to save data entry time on a transaction that occurs monthly. What type of action
can I take on a transaction? - Answer- Memorized Transaction

I need to start closing accounting periods. What can I do? - Answer- Go to
Setup>Accounting>Manage Accounting Periods>Checklist

True or False: Reports cannot be customized - Answer- False

True or False: Saved searches only expose standard NetSuite fields - Answer- False

True or False: NetSuite's data structure incorporates many unique tables - Answer-
True

NetSuite One World allows you to set up multiple _________ _________ in one
NetSuite account, using subsidiaries - Answer- Legal Entities

A _________ is used to enter or view existing data - Answer- Form

The ___________ is how data is stored in NetSuite - Answer- Record

The _______________ Manager provides links to configure NetSuite - Answer- Setup

True or False: Company-wide preferences may be set, such as "Email, Printing, & Fax
Preferences" - Answer- True

Name the 4 standard NetSuite data (record) types - Answer- Entity, Transaction, Item,
CRM

True or False: Classifications can be useful for segmenting data (reporting) - Answer-
True

A _______ is anybody with access to your NetSuite account - Answer- User

A role is a set of _________ governing a user's access to data - Answer- Permissions

Tax Group - Answer- Combine several tax codes that can then be applied to a
transaction.

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