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MB-310 Online Practice Questions and Answers

Questions 4

DRAG DROP

A company that sells computer equipment uses Microsoft Dynamics 365 Finance. The company is creating bundles that include a computer and a three-year warranty.

The company configures revenue recognition.

You need to configure revenue types for the bundle components.

Which revenue type should you useTo answer, drag the appropriate revenue types to the correct components. 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.

Select and Place:

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Questions 5

HOTSPOT

You create a financial dimension set named MA + DEPT + PROJ as shown in the following screenshot. The financial dimension set includes the following dimensions:

Main Account Department Project

Use the drop-down menu to select the answer choice that answers each question based on the information presented in the graphic.

Hot Area:

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Questions 6

HOTSPOT

You are asked to configure the method of payments for vendors.

You are viewing an Accounts payable method of payment.

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.

Hot Area:

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Questions 7

HOTSPOT

A customer implements Dynamics 365 Finance.

The customer needs to use the cost accounting module for the following:

1.

Track the square footage occupied at each of the customer's store locations.

2.

Track and categorize costs as primary or secondary.

3.

Classify costs as direct or indirect

You need to configure the system.

NOTE: Each correct selection is worth one point.

Hot Area:

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Questions 8

HOTSPOT

You are implementing Microsoft Dynamics 365 Finance.

You need to implement processes for updating fixed assets and creating fixed asset transactions.

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

NOTE: Each correct selection is worth one point.

Hot Area:

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Questions 9

HOTSPOT

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

Which option should you useTo answer, select the appropriate options in the answer area

NOTE: Each correct selection is worth one point.

Hot Area:

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Questions 10

HOTSPOT

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

How should you configure the batch transfer ruleTo answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

Hot Area:

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Questions 11

A client uses the standard trial balance in Dynamics 365 Finance. The client has the following requirements:

1.

ability to run the trial balance by main account, department, and division

2.

ability to run the trial balance by just main account and department

You need to ensure that these options are visible in the trial balance report parameters.

What should you configure?

A. ledger validation

B. financial dimensions for department and division

C. financial dimension sets

D. account structure

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Questions 12

You are a Dynamics 365 Finance consultant.

You are currently unable to collaborate or track progress toward month-end close across legal entities in the current system.

You need to resolve the issue.

What should you configure?

A. Financial reporting

B. Financial insights workspace

C. Electronic reporting

D. Financial period close workspace

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Questions 13

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 customer uses Dynamics 365 Finance.

The controller notices incorrect postings to the ledger entered via journal.

The system must enforce the following:

1.

Expense accounts (6000-6998) require department, division, and project with all transactions. Customer dimension is optional.

2.

Revenue accounts (4000-4999) require department and division and allow project and customer dimensions.

3.

Liability accounts (2000-2999) should not have any dimensions posted.

4.

Expense account (6999) requires department, division, project and customer dimensions with all transactions.

You need to configure the account structure to meet the requirements.

Solution:

1.

Configure two account structures: one for liability accounts listing the (2000-2999) range with no following dimensions and one for Expense and Revenue accounts.

2.

For Expense accounts (6000-6998) and Revenue accounts (4000-4999), configure asterisks in all dimension columns.

3.

For Expense account (6999), configure asterisks in all dimensions. Configure an asterisk and quotes in the customer dimension.

Does the solution meet the goal?

A. Yes

B. No

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Questions 14

Your role of Systems Administrator includes the management of your company's Microsoft Dynamics 365 Finance system.

You are configuring the methods of payment in the Accounts Receivable module.

You need to configure the system to perform validation of journal entries when electronic payments are received. The validation must ensure that the type of bank operation that was used is selected by the user.

Which of the following validation options should you select?

A. Payment specification is mandatory

B. Payment ID is mandatory

C. Bank transaction type is mandatory

D. Payment reference is mandatory

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Questions 15

A company implements basic budgeting functionality in Dynamics 36S Finance.

The company wants to allocate budget register entries for payroll expense amounts to each department based on a predetermined percentage.

You need to configure the allocation.

Which functionality should you use?

A. Budget transfer rule

B. Budget control

C. Allocation term

D. Period allocation key

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Questions 16

A company uses Dynamics 365 Finance to manage billing and expenses for projects. Team members complete expense reports and submit the expense reports to a project manager for approval.

Each expense report must contain expense lines for one project only. Expense reports that are submitted without a project specified must be rejected.

You need to configure an expense report approval workflow.

Which three actions should you take? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

A. Create an expenditure reviewers' group in Expense management.

B. Create a user group for project managers and add all project managers to the group.

C. Create an expense report workflow.

D. Set up a condition to run an approval step only if the expense report has a project specified. Set the workflow assignment to Expenditure reviewers.

E. Set up an automatic action to reject expense report lines that do not have projects specified. Set the workflow assignment to Expenditure reviewers.

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Questions 17

You are the controller of a multi-entity organization that uses the same chart of accounts and fiscal periods across all entities. You use the financial report designer in Dynamics 365 Finance to create, maintain, deploy, and view financial statements.

You need to generate consolidated financial statements by using a building block group to aggregate data across companies and financial dimensions.

Which three actions should you perform? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

A. Create a column definition and use the period and year to map the appropriate periods for each company.

B. Create a row definition that includes all appropriate accounts in all companies in the rows.

C. Create a column definition that includes a financial dimension column for each company.

D. Create a reporting tree that includes a reporting node for each company.

E. Use the Reporting Unit field to select the tree and reporting unit for each column.

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Questions 18

A company uses expense management in Dynamics 365 Finance. The company has two legal entities.

CompanyA reimburses employees for travel-related expenses. CompanyB plans to reimburse remote employees monthly for travel-related expenses. All employees are required to complete expense reports.

You need to configure the expense type that can be used for both companies.

Which expense type category should you use?

A. Case

B. Shared

C. Project

D. Procurement

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Exam Code: MB-310
Exam Name: Microsoft Dynamics 365 Finance
Last Update: Mar 21, 2024
Questions: 390 Q&As

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