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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?

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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
2 days ago
C) balance within each subsidiary, they need not balance between subsidiaries
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Shalon
9 days ago
B) used to log intercompany eliminations
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Lera
12 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
4 days ago
C) balance within each subsidiary, they need not balance between subsidiaries
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Elmer
17 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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