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NetSuite Exam NetSuite-Financial-User Topic 9 Question 21 Discussion

Actual exam question for NetSuite's NetSuite-Financial-User exam
Question #: 21
Topic #: 9
[All NetSuite-Financial-User Questions]

What is one characteristic of Elimination Journal Entries?

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Suggested Answer: A

by Arminda at Sep 17, 2024, 10:15 PM

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Kathrine
28 days ago
I love how option C tries to sneak in some corporate nonsense. Like, 'approved automatically when entered manually'? What is this, some kind of Orwellian accounting dystopia?
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Paris
7 days ago
Haha, option C does sound a bit like something out of a dystopian novel.
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Justine
8 days ago
C) They are used to transfer profit from one subsidiary to another
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Jenifer
13 days ago
B) They are the same as Intercompany Journal Entries.
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Carey
15 days ago
A) They are posted to only one subsidiary.
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Gilma
1 months ago
Haha, 'approved automatically when entered manually'? That doesn't even make sense! Option C is just ridiculous. I'm going with B.
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Murray
1 months ago
Elimination journal entries are definitely not the same as intercompany journal entries. Those are two completely different things. I'd go with option A or D.
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Francoise
17 hours ago
I would go with option D, as elimination entries are used to transfer profit from one subsidiary to another.
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Mitsue
13 days ago
I think option A makes sense, as they are posted to only one subsidiary.
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Denise
23 days ago
I agree, elimination journal entries are not the same as intercompany journal entries.
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Arthur
2 months ago
Hmm, that's an interesting perspective. I can see how both answers could make sense depending on the context.
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Joesph
2 months ago
I'm pretty sure elimination journal entries are used to remove intercompany transactions from the consolidated financial statements. Option B seems to be the correct answer here.
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Asha
30 days ago
Elimination journal entries are definitely not the same as intercompany journal entries. Option B is the correct answer.
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Gary
1 months ago
Yes, elimination journal entries are specifically used to eliminate intercompany transactions. Option B is the right choice.
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Cecilia
1 months ago
I think you're right, elimination journal entries are used to remove intercompany transactions. Option B is the correct answer.
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Maile
2 months ago
I disagree with that, I believe Elimination Journal Entries are posted to only one subsidiary.
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Arthur
2 months ago
I think the characteristic of Elimination Journal Entries is that they are used to transfer profit from one subsidiary to another.
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