14 January, 2020

[Jan-2020-13] Rebirth Mb-310 Braindump

Exam Code: mb-310 (Practice Exam Latest Test Questions VCE PDF)
Exam Name: Microsoft Dynamics 365 for Finance and Operations-Financials (beta)
Certification Provider: Microsoft
Free Today! Guaranteed Training- Pass mb-310 Exam.

Page: 1 / 5

Total 64 questions Full Exam Access

Question 1

You Create a financial dimension set named MA + DEPT+PROJ as shown in the following screenshot. The financial dimension set include the following dimensions:
• Main Account
• Department
• Project
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Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic. NOTE: Each correct selection is worth one point.
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Solution:
MB-310 dumps exhibit

Does this meet the goal?

Yes

Question 2

A client has multiple legal entities set up in Dynamics 365 for Finance and Operations. All companies and data reside in Finance and Operations,
The client currently uses a separate reporting tool to perform their financial consolidation and eliminations, They want to use Finance and Operations instead.
You need to configure the system and correctly perform eliminations.
Solution: Create a separate company in which you manually create the eliminations. Then, use that company in Financial reporting or in the consolidation process.
Does the solution meet the goal?

Yes

Question 3

An organization uses Dynamics 365 for Finance and Operations.
Several posted journal entries contain invalid main account and dimension combinations. This leads to
incorrect financial reporting.
You need to prevent these invalid combinations. What should you do?

Associate the correct main accounts to that financial dimension on the financial dimension setup form.

Configure financial dimension sets to limit which financial dimensions are valid for which main accounts.

Train users to select the Validate button in the current journal configuration so that the correct account and dimension combination is used.

Configure the account structure to specify which financial dimensions are valid for which main accounts.

Question 4

A rental service company hires you to configure their system to implement accrual schemes. You need to configure the accrual schemes for this company.
Which configuration and transaction options should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
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Solution:
MB-310 dumps exhibit

Does this meet the goal?

Yes

Question 5

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.
A client has multiple legal entities set up in Dynamics 365 for Finance and Operations. All companies and data reside in Finance and Operations.
The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Finance and Operations instead.
You need to configure the system and correctly perform eliminations.
Solution: Select Consolidate with import. Does the solution meet the goal?

Yes

Question 6

You are configuring the Accounts payable module for a company.
The company needs to set a limit on the charges they will pay for specific items. You need to set up the limit for charges.
Which two actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

Define the maximum charge amount on the vendor record.

Enter the maximum amount when you set up the charges code.

Use budget control with the specified charges code.

Set the maximum charge amount in the Accounts payable parameters,

Enable invoice matching validation in the Accounts payable parameters.

Question 7

An organization sells monthly service subscriptions. The organization sends invoices to customers on the 15th of every month in the amount of $450.00.
You need to set up, configure, and process recurring free text invoices for the customers.
In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.
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Solution:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/set-up-process-

Does this meet the goal?

Yes

Question 8

The accounting adjustments that are received in the first quarter must be able to be posted in to the previous year’s Period 13.
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The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.
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All dimensions from profit and loss must carry over into the retained earnings.
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All future and previous periods must have an On Hold status.
Solution:
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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 No.
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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 No.
- Set the Transfer profit and loss dimensions’ option to Close All.
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Set future Ledger periods to a status of On Hold.
Does the solution meet the goal?

Yes

Question 9

A company is preparing to complete a year-end close process.
You need to configure the Dynamics 365 for Finance and Operations General ledger module. Which three configurations must you use? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

Configure the Fiscal year close parameters

Configure the ledger calendar for the new fiscal year

Configure the transfer balance

Validate the main account type

Create the next fiscal year

Question 10

You are setting up main accounts in Dynamics 365 for Finance and Operations. You need to configure the main accounts to meet the requirements.
Which options should you use? To answer, select the appropriate configuration in the answer area. NOTE: Each correct selection is worth one point.
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Solution:
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Does this meet the goal?

Yes

Question 11

Users are posting project transactions and bank transactions incorrectly in the General journal. The client wants to prevent this from happening in the future
You need to configure Dynamics 365 for Finance and Operations to limit the account type transactions to only ledger.
What should you do?

Use advanced ledger entries to define the account types that can be used in the General ledger journal.

Create a journal template that has ledger as the account type and offset account type.

Use journal control to specify which account types, are valid for the General ledger journal.

Configure the voucher series associated with this journal to allow only ledger account types.

Question 12

A client has multiple legal entities set up in Dynamics 365 for Finance and Operations. All companies and data reside in Finance and Operations,
The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Finance and Operations instead.
You need to configure the system and correctly perform eliminations.
Solution: Select Consolidate online in Finance and Operations. Include eliminations during the process or as a proposal. Setup the transactions to post in the legal entity configured for consolidations.
Does the solution meet the goal?

Yes

Question 13

You need to configure an Accounts payable charge for freight for a company. The company requires that the
system include the freight invoice to be paid to the vendor and record the expense in main account 600120 - Freight In.
MB-310 dumps exhibit

Solution:
MB-310 dumps exhibit

Does this meet the goal?

Yes

Question 14

The accounting adjustments that are received in the first quarter must be able to be posted in to the previous year’s Period 13.
MB-310 dumps exhibit

The fiscal year closing can be run again, but only the most recent closing entry will remain in the
transactions.
MB-310 dumps exhibit

All dimensions from profit and loss must carry over into the retained earnings.
MB-310 dumps exhibit

All future and previous periods must have an On Hold status.
Solution:
MB-310 dumps exhibit

Configure General ledger parameters.
- Set the Delete close of year transactions option to No.
- Set the Create closing transactions during transfer option to No.
- Set the Fiscal year status to permanently closed option to No.
MB-310 dumps exhibit

Set future Ledger periods to a status of On Hold. Does the solution meet the goal?

Yes

Question 15

A company sells goods to a customer. You enter an invoice for the customer on June 25. The invoice is eligible for a cash discount of two percent if it is paid in five days and a discount of one percent if it is paid in 14 days.
You need to create a payment journal when the invoices are settled on specific dates.
Which setup options should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.
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Solution:
MB-310 dumps exhibit

Does this meet the goal?

Yes

Question 16

A client is using the budget planning process in Dynamics 365 for Finance and Operations. Your client requires the ability to plan for a one-year, three-year, and five-year budget. You need to configure the various year length options to be used in the budgeting module. What should you do?

Configure budget control.

Configure budget codes.

Configure budget allocation terms.

Configure budget cycles.

Question 17

A company provides employee life insurance to all full-time employees. Employee life insurance policies are paid twice a year to the insurance company. Transactions for current employees must be recognized in the general ledger twice a month with an employee's pay. Transactions for new employees must be recognized in the general ledger based upon the employee's first pay date.
You need to configure accrual schemes for the new fiscal year.
Which two configurations should you use? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

For new employees, use a Credit accrual schem

In the ledger accrual, set the offset to the first day of the fiscal year.

For current employees, use a Credit accrual schem

In the ledger accrual, set the offset to the employee’sfirst pay date.

For new employees, use a Debit accrual schem

In the ledger accrual, set the offset to the employee’s first pay date.

For current employees, use a Debit accrual schem

In the ledger accrual, set the offset to the first day of the fiscal year.

Question 18

A client confirms a safes order in Dynamics 365 for Finance and Operations. You are viewing the confirmed sales order.
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Solution:
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Does this meet the goal?

Yes

Question 19

You are creating a budget for an organization.
The organization requires that allocations be performed automatically as part of budget planning. You need to invoke allocations at a specific budget planning stage.
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.
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Solution:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-all

Does this meet the goal?

Yes

Question 20

You are a controller for a public sector organization. You need detailed fiscal tracking and reporting. You need to set up fund types categorized under specific fund classes.
Which fund type can you set up for each fund class? To answer, drag the appropriate fund types to the correct fund classes. Each fund type may be used once, more than once, or not at all. You may need to dreg the split bar between panes or scroll to view content.
NOTE: Each correct selection is worth one point.
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Solution:
MB-310 dumps exhibit

Does this meet the goal?

Yes

Question 21

You work for a company that receives invoices in foreign currencies.
You need to configure the currency exchange rate providers and exchange rate types. What should you do?

Use a developer to write the HTML key values code to configure the currency exchange rate providers.Then, use the provider for importing a currency exchange rate type.

Configure exchange rate provider, create exchange rate type, and import the currency exchange rates.

Select the appropriate HTML key values from the available exchange rate provider

Then, use the provider for importing one currency exchange rate type.

Use a developer to write the XML key values code to configure the currency exchange rate providers.Then, use the provider for importing a currency exchange rate type.

Question 22

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.
A company is preparing to complete yearly budgets.
The company plans to use-pie Budget module in Dynamics 365 for Finance and Operations for budget management
You need to create the new budgets.
Solution: Create budget plans to define the revenues for a budget Does the solution meet the goal?

Yes

Question 23

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.
A company is preparing to complete yearly budgets.
The company plans to use the Budget module in Dynamics 365 for Finance and Operations for budget management
You need to create the new budgets.
Solution: Create budget plans for multiple scenarios. Does the solution meet the goal?

Yes

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Total 64 questions Full Exam Access