NetSuite Exam NetSuite-Financial-User Topic 4 Question 14 Discussion

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

Question #: 14
Topic #: 4

[All NetSuite-Financial-User Questions]

Which statement is true about inter-company journal entries?

AMinimum of four lines

Bused to log intercompany eliminations

Cbalance within each subsidiary, they need not balance between subsidiaries

Dmaximum of six lines

Show Suggested Answer

Suggested Answer: A

by Bambi at Jul 18, 2024, 02:07 AM

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Natalie

1 months ago

This question is making my head spin. I need a strong cup of coffee to get through this exam.

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Lawanda

1 months ago

Option A sounds like a good rule of thumb, but I guess accountants love to break the rules. Can't be too rigid in this field!

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Joye

4 days ago

C) balance within each subsidiary, they need not balance between subsidiaries

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Shalon

11 days ago

B) used to log intercompany eliminations

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Lera

14 days ago

A) Minimum of four lines

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Barrett

1 months ago

Wait, there's a maximum number of lines? I thought it was unlimited. This exam is tricky!

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Sherly

6 days ago

C) balance within each subsidiary, they need not balance between subsidiaries

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Elmer

19 days ago

B) used to log intercompany eliminations

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Daron

1 months ago

A) Minimum of four lines

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Kiera

2 months ago

I thought inter-company entries had to balance between subsidiaries. This is news to me!

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Peter

1 months ago

C) balance within each subsidiary, they need not balance between subsidiaries

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Alline

1 months ago

B) used to log intercompany eliminations

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Portia

1 months ago

A) Minimum of four lines

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Jesse

2 months ago

Option B is the correct answer. Inter-company journal entries are used to log intercompany eliminations during the consolidation process.

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Cherelle

2 months ago

But inter-company journal entries are used to eliminate transactions between subsidiaries, so B) makes more sense.

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Stephaine

3 months ago

I disagree, I believe the correct answer is A) Minimum of four lines.

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Cherelle

3 months ago

I think the answer is B) used to log intercompany eliminations.

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