Microsoft MB-310 Microsoft Dynamics 365 Finance Exam Practice Test

You are configuring budgeting components in Dynamics 365 for Finance and Operations.

You need to configure multiple budgets.

What are three budgeting options you can use? Each correct answer presents a complete solution.

NOTE: Each correct selection is worth one point.

The controller at a company has multiple employees who enter standard General ledger journals. The controller wants to review these journal entries before they are posted. Currently, journals entries are posted without review.

You need to configure Dynamics 365 Finance to help set up a system led review process to meet the controller's needs.

Which functionality should you configure?

A company uses basic budgeting functionality in Dynamics 365 Finance.

A budget manager plans to review and approve budget register entries m the system.

You need to set up approval workflows.

Which four actions should you perform m sequence?

To answer, move the appropriate actions from the list of actions to the answer area and arrange them m the correct order.

A company is implementing Microsoft Dynamics 355 -Finance. The company plans to Implement the fixed asset module. You have the full awing requirements:

• Post transactions to the tax depreciation hook at the same interval as the primary book.

• Tax transactions must be journalized without being recorded in the general ledger.

You need to configure the 'wet! asset books.

Which conjuration option should you use? To , drag the appropriate urn figurations to the correct requirement. Each configuration may be used once, more than once, more not at all You may need to drag the split bar between panes or scroll to view content.

NOTE: Each correct selection is worth one point.

You are using Microsoft Dynamics 365 finance

You need to acquire a fixed asset.

What are three possible ways to achieve the goal? Each correct answer presents a complete solution

NOTE: bath collect selection is worth one point.

You plan to manage delinquent customers by monitoring the collection process in Dynamics %5 Finance.

You need to use the Collections list pane to monitor the collection process. What must you do first?

An exchange rate provider has been configured for Dynamics 365 Finance.

Foreign currency transactions using the Euro and the US dollar use a fixed exchange rate for European Central Bank holidays and all days between April 1 and June 30. Foreign currency transactions from March 1 to June 30 fail to post.

You need to reconfigure the system to post transactions for this period.

Which two configuration changes should you make to the ledgers? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

A company uses Dynamics 365 Finance to manage fixed assets. The company's fiscal year is set as the calendar year.

The company requires two books for each fixed asset. The company has the following requirements for the books:

You need to configure a fixed asset group book setup to meet the requirements.

Which depreciation conventions and depreciation profiles should you use? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

You are a functional consultant for a legal entity named Contoso Group (GLCO).

You plan to sell new products that will increase in quality over time.

You need to implement a solution that uses the Last in, First out (LIFO) inventory model for GLCO.

To complete this task, sign in to the Dynamics 365 portal.

You are configuring the Fixed assets module for a Dynamics 365 Finance and Operations environment,

You need to set up the basic configuration to create a fixed asset Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

A company uses Microsoft Dynamics 365 Finance to manage fixed assets. The company uses laptops 'ex three years and then sells the laptops externally. You need 10 process laptop sales. What should you do?

You use Dynamics 365 Finance for daily bank reconciliation. You must use the BAI2 bank statement format

You need to configure the import bank statement format for the bank reconciliation process. What should you do?

Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.

After you answer a question in this section, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.

You are configuring the year-end setup in Dynamics 365 for Finance and Operations.

You need to configure the year-end setup to meet the following requirements:

The accounting adjustments that are received in the first quarter must be able to be posted in to the previous year’s Period 13.

The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.

All dimensions from profit and loss must carry over into the retained earnings.

All future and previous periods must have an On Hold status.

Solution:

Configure General ledger parameters.

Set the Delete close of year transactions option to Yes.

Set the Create closing transactions during transfer option to Yes.

Set the Fiscal year status to permanently closed option to Yes.

Define the Year-end close template.

Designate a retained earnings main account for each legal entity.

Set the Financial dimensions will be used on the Opening transactions option to Yes.

Set the Transfer profit and loss dimensions’ option to Close All.

Set future Ledger periods to a status of On Hold.

Does the solution meet the goal?

You need to identify the root cause for the error that User5 is experiencing.

What should you check?

You need to configure system functionality for pickle type reporting.

What should you use?

You need to recommend a solution to prevent User3's issue from recurring.

What should you recommend?

You need to select the functionality to meet the requirement.

Which features should you use? To answer, drag the appropriate features to the correct requirements. Each feature may be used once or not at all. You may need to drag the split bar between panes or scroll to view content.

NOTE: Each correct selection is worth one point.

Which configuration makes it possible for User4 to make a purchase?

You need to determine the root cause for User1’s issue.

Which configuration options should you check? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

You need to configure Accounts Receivable to take pre-orders.

Which feature should you use?

You need to configure the system to meet invoicing requirement.

Which features should you use? To answer, drag the appropriate features to the correct requirements. Each feature may be used once, more than once, or not at all. You may need to drag the split bar between panes or scroll to view content.

NOTE: Each correct selection is worth one point.

You need to process expense allocations.

Which features should you use? To answer, drag the appropriate features to the correct requirements. Each feature may be used once, more than once, or net at all. You may need to drag the split bar between panes or scroll to view content.

NOTE: Each correct selection is worth one point.

You need to resolve the issue that User4 reports.

What should you do?

You need to determine the cause of the issue that User1 reports.

What are two possible causes for the issue? Each correct answer presents a complete solution.

NOTE: Each correct selection is worth one point.

The Canadian franchise purchases excess ski equipment from the US franchise. Two sets of skis are

purchased totaling USD1,000.

When the purchase invoice is prepared, USD10,000 is keyed in by mistake.

Which configuration determines the result for this intercompany trade scenario?

You need to configure budget planning for Alpine Ski House Corporate.

Which two components should you configure? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

You need to configure the cash flow management reports.

How should you configure cash flow management? To answer, select the appropriate options m the answer area.

NOTE: Each correct selection is worth one point.

You need to configure the fiscal year calendars for each legal entity.

How should you configure the fiscal year calendars? To answer, select me appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

You need to configure the posting groups for Humongous insurance s subsidiary. Which ledger posting group field should you use?

You need to configure expense management tor Humongous Insurance and its subsidiary. Which options should you use? To answer select the appropriate options in me answer area

NOTE: Each correct selection is worth one point.

You need to create Trey Research s bank accounts.

Which three actions should you perform in sequence? To answer move the appropriate actions from the list of actions to the answer area and arrange them in the correct order.

NOTE: More than one order of answer choices is correct. You will receive credit for any of the correct orders you select.

You need to configure currencies for the legal entities.

configure currencies? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

You need to configure credit card processing for all three companies.

Which option should you use? To answer, select the appropriate options in the answer area

NOTE: Each correct selection is worth one point.

You need to ensure Trey Research meets the compliance requirement.

Which budget technology should you implement? Each correct answer presents a complete solution.

NOTE: Each correct selection is worth one point

You need to configure credit card processing for all three companies

Which option should you use? To answer, select the appropriate options m the answer area

NOTE: Each correct selection is worth one point.

You need to ensure accounting entries are transferred from subledgers to general ledgers.

How should you configure the batch transfer rule? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

You need to ensure the promotional gifts are posted to the correct account. What should you use?

You need to reconfigure the taxing jurisdiction for Humongous insurance's subsidiary What should you do?

You need to resolve the issue related to monthly lease expenses.

How should you configure asset leasing? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

You need to configure revenue recognition to meet the requirements.

Which configuration should you use? To answer, drag the appropriate configurations to the correct requirements. Each configuration may be used once, more than not at all. You may need to drag the split bar between panes or scroll to view content

NOTE: Each correct selection is worth one point

You need to identify why the sales orders where sent to customers.

Which configuration allowed the sales orders to be sent? To answer, select the appropriate configuration in the answer area.

NOTE: Each correct select is worth one point.

You need to configure the system to meet the fiscal year requirements. What should you do?

You need to address the posting of sales orders to a closed period.

What should you do?

You need to validate the sales tax postings for Tennessee and Alabama.

Which tax selections meet the requirement? To answer. select the appropriate options in the answer area

NOTE: Each correct selection is worth one point.

You need to prevent prohibited expenses from posting.

Which configurations should you use? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

You need to address the employees issue regarding expense report policy violations.

Which parameter should you use?

You need to configure the expense module for reimbursement.

How should you configure the expense module? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

You need to identify the posting issue with sales order 1234.

What should you do?

You need in BUI that captured employee mobile receipts automatic ally match the transactions to resolve the User1 issue.

Which feature should you enable?

You need to configure recognition.

Which revenue type is associated with the line of business? To answer, drag the appropriate revenue types to the correct lines of business. Each revenue type may be used once, more than once, or not at all. You may need to drag the split bar between panes or scroll to view content.

NOTE: Each correct selection is worth one point.

You need to troubleshoot the reporting issue for User7.

Why are some transactions being excluded?

You need to determine why CustomerX is unable to confirm another sales order.

What are two possible reasons? Each answer is a complete solution.

NOTE: Each correct selection is worth one point.