NetSuite ERP Consultant Exam Prep Questions with Correct

Answers

Revenue Recognition - Revenue Commitment - Answer-Separates the billing and

revenue recognition functions, enabling you to recognize revenue and bill customers at

different times and to recognize revenue in amounts that differ from the amounts billed

to customers.

A revenue commitment is a non-posting transaction. It serves as the placeholder for the

revenue recognition schedule that generates the posting revenue recognition journal

entries

Revenue Recognition - VSOE - Answer-Vendor-Specific Objective Evidence (VSOE)

feature to ensure that your company properly recognizes revenue for products and

services sold as part of a bundle.

Revenue Recognition - Revenue Recognition Schedule - Answer-Determined the

journal entries that need to be generated to record the impact of item sales.

Revenue Recognition - Revenue Recognition Template - Answer-Indicate how revenue

from associated items should be posted

Landed Cost - Landed Cost can be by - Answer-Weight, Cost, Quantity, or manual

Item Pricing - Pricing applied according to the quantity included in the line item -

Answer-By Line Quantity

Item Pricing - Pricing is applied for all line items for the same item on a transaction -

Answer-By Overall Item Quantity

Item Pricing - Pricing is applied for all items in the same hierarchy - Answer-by Overall

Parent Quantity