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Exam NetSuite-Financial-User Topic 4 Question 14 Discussion
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?
A
Minimum of four lines
B
used to log intercompany eliminations
C
balance within each subsidiary, they need not balance between subsidiaries
D
maximum of six lines
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Suggested Answer:
A
by
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Jul 18, 2024, 02:07 AM
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Natalie
20 days 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
22 days 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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Barrett
25 days ago
Wait, there's a maximum number of lines? I thought it was unlimited. This exam is tricky!
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Elmer
2 days ago
B) used to log intercompany eliminations
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Daron
20 days ago
A) Minimum of four lines
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Kiera
1 months ago
I thought inter-company entries had to balance between subsidiaries. This is news to me!
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Peter
21 days ago
C) balance within each subsidiary, they need not balance between subsidiaries
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Alline
23 days ago
B) used to log intercompany eliminations
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Portia
27 days ago
A) Minimum of four lines
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Jesse
1 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
2 months ago
I disagree, I believe the correct answer is A) Minimum of four lines.
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Cherelle
2 months ago
I think the answer is B) used to log intercompany eliminations.
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Natalie
20 days agoLawanda
22 days agoBarrett
25 days agoElmer
2 days agoDaron
20 days agoKiera
1 months agoPeter
21 days agoAlline
23 days agoPortia
27 days agoJesse
1 months agoCherelle
2 months agoStephaine
2 months agoCherelle
2 months ago