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

Actual exam question for NetSuite's NetSuite Financial User Certification exam

Question #: 21
Topic #: 9

[All NetSuite Financial User Certification Questions]

What is one characteristic of Elimination Journal Entries?

AThey are posted to only one subsidiary.

BThey are the same as Intercompany Journal Entries.

CThey are approved automatically when entered manually.

DThey are used to transfer profit from one subsidiary to another
Alternative Answers:

Show Suggested Answer

Suggested Answer: A

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

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Arthur

12 days 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

14 days 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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Cecilia

8 days 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

24 days ago

I disagree with that, I believe Elimination Journal Entries are posted to only one subsidiary.

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Arthur

27 days 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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