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NEW QUESTION # 35
In which two places can Invoices be created based upon Billing Schedules? (Choose two)
- A. Individually from the Sales Order
- B. The billing queue under Bill Orders
- C. In bulk from the Approve Time screen
- D. Individually from the Project record
Answer: A,B
NEW QUESTION # 36
Which transaction, that records the expense and the cash spent in one step, can be used to record ad-hoc purchases such as petty cash
- A. Transfer funds
- B. Purchase Order
- C. Write check
- D. Pay single vendor
Answer: C
NEW QUESTION # 37
What is the order of steps for the NetSuite standard accounts receivable process?
- A. Approve Sales Order > Fulfill Sales Order > Bill Sales Order
- B. Bill Sales Order > Approve Sales Order > Fulfill Sales Order
- C. Approve Sales Order > Bill Sales Order > Fulfill Sales Order
- D. Fulfill Sales Order > Approve Sales Order > Bill Sales Order
Answer: A
NEW QUESTION # 38
The simplest way to post bank service fees ... reconcile bank statement pages?
- A. post a write check transaction
- B. enter on the new deposit subtab
- C. Enter on the new charge's subtab
- D. post journal entry
Answer: B
NEW QUESTION # 39
Write Check transaction and a Pay Vendor transaction the difference?
- A. only write checks is from bank account
- B. only pay vendor bill post to the general ledger
- C. only pay vendor bill reduces AP
- D. only write checks reduces AP
Answer: A
NEW QUESTION # 40
Which two boxes must be used to reverse the journal entry next month (choose 2)
- A. memo
- B. Reversal date
- C. do not post until
- D. Defer entry
- E. pending approval
Answer: B,D
NEW QUESTION # 41
How does NetSuite set up a company record when you buy from and sell to the same company?
- A. either the vendor or the customer can be set as "Parent of" the other record to link them
- B. NetSuite tracks this using the "Other relationship" functions to link the customer and vendor records
- C. NetSuite uses a single company record to track this combined relationship
- D. NetSuite uses unrelated customer and vendor records to track these
Answer: B
NEW QUESTION # 42
To which account should the customer payments be posted, to consolidate all customer payments recorded through the day into one bank deposit at the end of the day?
- A. undeposited funds
- B. accounts receivable
- C. Bank account
- D. customer deposits
Answer: A
NEW QUESTION # 43
Which two account types can be used to Pay Vendor Bills? (Choose two)
- A. Asset
- B. Expense
- C. Credit Card
- D. Non-Posting
- E. Bank
Answer: C,E
NEW QUESTION # 44
Which statement is true about recording customer payments?
- A. Customer payments must match paid invoices 1:1
- B. Electronic payments SuiteApp is required to record customer payments by credit card
- C. Undeposited Funds is not necessary if all your customers pay by credit card.
- D. Accept Customer Payment offsets Accounts Receivable posting
Answer: A
NEW QUESTION # 45
Which statement is true about NetSuite Accounts Payable transactions?
- A. Bill Purchase Orders page will allow you to generate bills from multiple vendors at once.
- B. Vendor Bills must be created from a Purchase Order.
- C. Purchase Orders must have a preceding Purchase Requisition.
- D. Paying an Unapproved Bill will cause both Bill and Payment to post to the general ledger.
Answer: A
NEW QUESTION # 46
which statement is true about assigning a billing schedule to an item record?
- A. it requires that all items on the sales order used same billing schedule
- B. it requires that items on the same sales order have billing schedule of some kind
- C. it ensures that item will always have the billing default in correctly on the sales order
- D. it forces all the lines on sales order to have billing schedule
Answer: C
NEW QUESTION # 47
Which account type is non-posting?
- A. Unbilled Receivable
- B. Other Current Liability
- C. Deferred Expense
- D. Statistical Account-*Statistical accounts are non-monetary accounts that can be used to maintain statistical information for a variety of metrics. For example, a statistical account could be established to maintain the employee headcount by the department in an organization.
Answer: D
NEW QUESTION # 48
What is a characteristic of importing journal entries?
- A. The limit of lines for journal entry import is 10,000.
- B. The limit of lines for journal entry import is 1,000.
- C. Journal entries imported unbalanced must be fixed before approval.
- D. Journal entries can only be imported using web services.
Answer: A
NEW QUESTION # 49
Which are 2 elements unto to setting up financial sections in NetSuite financial report? (Choose 2)
- A. custom sections are restricted to one account type
- B. Each financial section has its own header and summary row
- C. formula rows calculate from the row immediately above
- D. Each section can be customized to have multiple account types
Answer: B,D
NEW QUESTION # 50
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 must be held in one currency only
- C. A bank account can be shared by multiple subsidiaries
- D. A bank account can be held in multiple currencies
Answer: A,B
NEW QUESTION # 51
Which statement is true about NS budgets?
- A. Budgets must be answered manually
- B. Budgets can only be created for income and expense accounts
- C. Budget Hold setting for expense accounts will prevent overspending
- D. Multiple budgets can be created for same year and criteria
Answer: D
NEW QUESTION # 52
Which three statements are true about using Parent Accounts in NetSuite? (Choose Three)
- A. Child accounts are created by setting the "Subaccount of" field
- B. Checking the Summary box allows the posting of reversing journal entries to this account.
- C. Parent accounts are created by setting the "Parent of" field
- D. Checking the Summary box on the account record prevents anyone from posting activity to the account
- E. Parent accounts can be posting or non-posting.
Answer: D,E
Explanation:
Child accounts are created by setting the "Subaccount of" field
NEW QUESTION # 53
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