EXAM 2 - CLASSIFICATIONS /SUBSIDIARIES

Per-Line classifications and mandatory classifications can be enabled through:

When you select a consolidated subsidiary on a report, data is displayed for the selected subsidiary and for all of its child subsidiaries including elimination subsidiaries.

When data is displayed for a single subsidiary, the base currency of the company is used for amounts.

When consolidated data is displayed for multiple related subsidiaries, what currency is used for amounts?

Consolidated reports use the ____________________ to translate child subsidiaries' amounts to roll up into consolidated parent subsidiary amounts.

An entity can be assigned to multiple subsidiaries.

If a customer or other entity has relationships with multiple subsidiaries,what record should the user create?

After a transaction has posted for the entity, you cannot change the subsidiary selected on the entity record.

You can purchase two different types of subsidiaries for your NetSuite OneWorld account. If you have subsidiaries to which you book journal entries only for reconciliation purposes, you can purchase [blank_start]G/L only subsidiaries[blank_end]. Purchase [blank_start]operating subsidiaries[blank_end] for those where you record transactions.

A _____________________ is the currency in which a subsidiary manages its financials.

After you have diagrammed a hierarchy of subsidiaries representing all legal entities in your organization, you should include one _______________________ as a child of each parent subsidiary. This should use the same base currency of the parent subsidiary.

An elimination subsidiary can be a parent subsidiary.