Microsoft Microsoft Certifications MB-310 Questions & Answers

• Question 101:

  HOTSPOT

  A company is implementing Dynamics 365 Finance.

  The company must be able to record sales orders in the following currencies: USD. EUR. and GBP.

  1.

  Company A uses USD as the accounting and reporting currency.

  2.

  Company B uses GBP as the accounting and reporting currency.

  3.

  Each company is consolidated into Company CON that uses EUR as the accounting and reporting currency.

  Assets and liabilities are revalued at the current exchange rate.

  You need to configure the system to meet the requirements.

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

  NOTE: Each correct selection is worth one point.

  Hot Area:

  

  Correct Answer:

  

  Box 1: An imported exchange rate for EUR to USD dated yesterday.

  If a legal entity has received invoices in foreign currencies, the foreign currency must be converted into the local currency. This means that up-to-date exchange rates for different currencies are required.

  Before you can import exchange rates, you must set up the information that is required by the providers who offer the exchange rates. Use the Configure exchange rate providers page to select the exchange rate providers.

  Import as of - This parameter manages whether to import as of the current date or for a specific date range. If you want to use a date range, enter or select the start and end dates.

  Box 2: Set the Use for financial elimination process to Yes for both legal entities Company A and Company B

  The setup for eliminations is found in the Setup area of the Consolidations module. After you enter a description for the rule, you must pick the company that the elimination journal will post to. This should be a company that has Use for

  financial elimination process selected in the Legal entity setup.

  Note: Elimination rules can be set up in the system, and then processed during the consolidation process or through an elimination proposal. The rules can be posted to any company that has Use for financial elimination process selected in

  the legal entity setup.

  Reference:

  https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/import-currency-exchange-rates

  https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/consolidation-elimination-overview

• Question 102:

  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:

  

  Correct Answer:

  

  Box 1: Allocation base

  The allocation base is used to measure and quantify activities, such as machine hours that are used, kilowatt hours that are consumed, or square footage that is occupied. It's used as basis for allocating costs to one or more cost objects.

  Box 2: Cost element

  Cost classification

  Cost classification groups costs according to their shared characteristics. For example, costs can be grouped by elements, traceability, and behavior.

  By elements Materials, labor, and expenses.

  By traceability Direct costs and indirect costs. Direct costs are assigned directly to cost objects. Indirect costs aren't directly traceable to cost objects. Indirect costs are allocated to cost objects.

  By behavior Fixed, variable, and semi-variable.

  Incorrect:

  Cost control unit

  The cost control unit represents the cost structure. The structure determines how cost flows in a hierarchical order between cost object dimensions and their respective cost objects.

  Reference:

  https://docs.microsoft.com/en-us/dynamics365/finance/cost-accounting/terms-cost-accounting

• Question 103:

  HOTSPOT

  A client plans to use Dynamics 365 for Finance and Operations for year-end 1099 reporting in the United States. You are viewing a vendor master data record on the 1099 FastTab.

  

  Hot Area:

  

  Correct Answer:

  

• Question 104:

  HOTSPOT

  A company wants to track balance sheet accounts 10000..39999 by using different dimensions than their profit and loss accounts 40000..99999.

  The company wants to track the Customer financial dimension for profit and loss accounts.

  The company sets up the following structure:

  

  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:

  

  Correct Answer:

  

  Box 1: Specify a business unit, department, cost center, and customer.

  Example

  To illustrate a best practice for setting up an account structure, let's assume that a company wants to track their balance sheet accounts (100000..399999) at the account and business unit financial dimension level. For revenue and expense

  accounts (400000..999999), they track financial dimensions Business Unit,

  Department, and Cost center. If they make a sale, they also like to track Customer. Using this scenario, it would be recommended to have two account structures assigned to the company's ledger - one for Balance sheet accounts, and one for

  Profit and Loss accounts. To optimize the user experience and validation,

  Customer should be an advanced rule that is only used when a sales account is used.

  Box 2: 2

  Reference:

  https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/configure-account-structures

• Question 105:

  HOTSPOT

  A company uses Dynamics 365 Finance. The company induces sot departments that participate in the budget planning process.

  The finance department generates a previous year budget scenario You must generate a new baseline scenario that is based on the previous year's budget scenario.

  Department managers must be able to enter their budget requests in the baseline scenario. Al department requests must be made available to the finance department so that they can determine the total budget funds requested and approve

  the budget scenario

  You need to configure the allocation schedule.

  How should you configure the schedule for the baseline scenarioTo answer, select the appropriate options in the dialog box in the answer area

  NOTE: Each correct selection worth one point.

  Hot Area:

  

  Correct Answer:

  

• Question 106:

  HOTSPOT You are implementing Dynamics 365 Finance. The company charges a convenience cost of $1S foe payments received from customers as an electronic fund transfer (EFT). The company also charges 10 percent interest on invoices that are not paid within the 30-day net terms You need to configure the system Which option should you configure? To answer, select the appropriate options in the answer area NOTE: Each correct selection is worth one point.

  Hot Area:

  

  Correct Answer:

  

  Box 1: Payment fee

  You can define vendor payment fees.

  Box 2: Interest You can use different interest rates for different periods for delayed payments in trade transactions. For each finance charge term code, you can specify multiple interest rates so that you can calculate finance charges with multiple interest rates for a specific period. This is helpful if you charge different interest on payments that are late. The interest calculation is the same for each financial charge, with variation only in the rate of interest for a specific period.

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/tasks/define-vendor-payment-fees https://docs.microsoft.com/en-us/dynamics365/business-central/finance-how-to-set-up-multiple-interest-rates

• Question 107:

  HOTSPOT

  You manage fixed assets in Dynamics 365 Finance.

  You have the following requirements:

  Purchase a fixed asset on a purchase order by using a procurement category. Purchase a fixed asset on a purchase order by using an item number. Post specific tax transactions for fixed assets by using a journal.

  You need to associate process in the system with the corresponding business requirement.

  Which actions should you performTo answer, select the appropriate configuration in the answer area.

  NOTE: Each correct selection is worth one point.

  Hot Area:

  

  Correct Answer:

  

• Question 108:

  HOTSPOT

  A client confirms a safes order in Dynamics 365 for Finance and Operations. You are viewing the confirmed sales order.

  

  Hot Area:

  

  Correct Answer:

  

• Question 109:

  HOTSPOT

  A private sector client needs item groups set up to support the procurement process.

  The Audio Item group posting for a purchase order is configured as shown:

  

  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:

  

  Correct Answer:

  

• Question 110:

  HOTSPOT

  You are asked to configure a main account in Dynamics 365 Finance.

  

  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:

  

  Correct Answer: