15 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.
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
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.
Solution:
Does this meet the goal?
• Main Account
• Department
• Project
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.
Solution:
Does this meet the goal?
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?
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?
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?
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?
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.
Solution:
Does this meet the goal?
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.
Solution:
Does this meet the goal?
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?
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?
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.
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.
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.
Solution:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/set-up-process-
Does this meet the goal?
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.
Solution:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/set-up-process-
Does this meet the goal?
Question 8
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 No.
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.
Set future Ledger periods to a status of On Hold.
Does the solution meet the goal?
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 No.
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.
Set future Ledger periods to a status of On Hold. Does the solution meet the goal?
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.
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.
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.
Solution:
Does this meet the goal?
Which options should you use? To answer, select the appropriate configuration in the answer area. NOTE: Each correct selection is worth one point.
Solution:
Does this meet the goal?
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?
You need to configure Dynamics 365 for Finance and Operations to limit the account type transactions to only ledger.
What should you do?
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?
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?
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.
Solution:
Does this meet the goal?
system include the freight invoice to be paid to the vendor and record the expense in main account 600120 - Freight In.
Solution:
Does this meet the goal?
Question 14
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 No.
- Set the Create closing transactions during transfer option to No.
- Set the Fiscal year status to permanently closed option to No.
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.
Set future Ledger periods to a status of On Hold. Does the solution meet the goal?
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 thetransactions.
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 No.
- Set the Create closing transactions during transfer option to No.
- Set the Fiscal year status to permanently closed option to No.
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.
Set future Ledger periods to a status of On Hold. Does the solution meet the goal?
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.
Solution:
Does this meet the goal?
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.
Solution:
Does this meet the goal?
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?
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.
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.
Question 18
A client confirms a safes order in Dynamics 365 for Finance and Operations. You are viewing the confirmed sales order.
Solution:
Does this meet the goal?
Solution:
Does this meet the goal?
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.
Solution:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-all
Does this meet the goal?
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.
Solution:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-all
Does this meet the goal?
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.
Solution:
Does this meet the goal?
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.
Solution:
Does this meet the goal?
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?
You need to configure the currency exchange rate providers and exchange rate types. What should you do?
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?
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?
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?
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?