Microsoft Microsoft Certifications MB-310 Questions & Answers

• Question 211:

  You are the controller for an organization. The company purchased six service trucks. You observe that your accountant set up Fixed assets - vehicles in the wrong fixed asset group.

  You need to achieve the following;

  1.

  Change the fixed asset group so that the existing fixed asset transactions for the original fixed asset are canceled and regenerated for the new fixed asset.

  2.

  Ensure that all value models for the existing fixed asset are created for the new fixed asset Any information that was set up for the original fixed asset is copied to the new fixed asset.

  3.

  Close the old fixed asset number in the old fixed assets group and create a new fixed asset number in the new fixed assets group. What should you do?

  A. Reclassify the fixed asset.

  B. Copy the fixed asset.

  C. Change the fixed asset group

  D. Transfer the fixed assets.

  Correct Answer: D

• Question 212:

  A client has unique accounting needs that sometimes require posting definitions.

  You need to implement posting definitions.

  In which situation should you implement posting definitions?

  A. when financial dimensions need to default from the main account onto an invoice

  B. when using encumbrance accounting for purchase orders

  C. when the system needs to automatically post a transaction to the accounts receivable account on invoice posting

  D. when creating one offset ledger entry based on transaction type

  Correct Answer: B

  https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/posting- definitions

• Question 213:

  Manual entry of currency exchange rates must be discontinued. Currency exchange rates must use the current rate values provided by the European Central Bank. The exchange rate entries and updates must be automated.

  You need to configure the system.

  Which two options should you useEach correct answer presents part of the solution.

  NOTE: Each correct selection is worth one point.

  A. Configure the exchange rate provider

  B. Run currency revaluation

  C. Create the currencies

  D. Configure dual currency

  E. Run the import currency exchange rate process

  Correct Answer: AE

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

• Question 214:

  A company manufactures air filtering units few industrial manufacturing plants.

  During the acquisition of one of the components that is used in the unit, an agreement is reached that the $25. 000 component mil be paid for in the following schedule:

  1.

  The first payment will be $10,000

  2.

  The remaining balance will be distributed equally and due on the 15m of the month for the next three months.

  You need to configure the system for the payment schedule.

  What should you do?

  A. Enter $25,000 in the Amount of Transaction Quantity field.

  B. Use the Specified allocation method.

  C. Set the Fixed allocation method Rued Amount field lot the monthly amount.

  D. Specify a fixed quantity payment of 5.

  Correct Answer: B

  https://community.dynamics.com/365/supply-chain-management/b/explore-microsoft-dynamics-365-together/posts/vendor-payment-schedule-in-microsoft-dynamics-365-finance-and-operations

• Question 215:

  A company plans to allocate revenue across occurrences by using recognition basis. Which recognition basis can you use?

  A. Mid-month split

  B. Revenue schedule

  C. Actual start date

  D. Monthly

  Correct Answer: D

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/accounts-receivable/revenue-recognition-setup

• Question 216:

  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 one legal entity, two departments, and two divisions. The client is implementing Dynamics 365 Finance. The departments and divisions are set up as financial dimensions.

  The client has the following requirements:

  Only expense accounts require dimensions posted with the transactions. Users must not have the option to select dimensions for a balance sheet account.

  You need to configure the ledger to show applicable financial dimensions based on the main account selected in journal entry.

  Solution: Configure one account structure for expense accounts and include applicable dimensions.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: B

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

• Question 217:

  An organization is upgrading to Dynamics 365 Finance.

  One of the organization's legal entities needs to have different main accounts for a period of six months.

  You need to configure the legal entity override dates.

  Which two actions can you performEach correct answer presents a complete solution.

  NOTE: Each correct selection is worth one point.

  A. Set the value of the override date field at the legal entity level to be more restrictive.

  B. Set the value of the override date field at the shared level to be more restrictive.

  C. Set the value of the override date field at the legal level to be less restrictive.

  D. Set the value of the override date field at the shared level to be less restrictive.

  Correct Answer: AD

  A is correct to prevent other companies posting on those accounts B is incorrect, because shared levels cannot be more restictive than leagel entity level C is incorrect since you need to block certain legal entities to post on these accounts D is required to allow that one entity to be able to post on those accounts

  What is wrong in the question is 'Each correct answer presents a complete solution.' this should have been 'Each correct answer presents part of the solution.'

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/plan-chart-of-accounts

• Question 218:

  You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system.

  A budget was configured at the start of the year for several large projects.

  During the budget cycle, the company decides to start a new project.

  You need to reallocate funds from the existing budget to the new project.

  Which of the following budget codes should you use for the reallocation of the budget funds?

  A. Transfer

  B. Revision

  C. Encumbrance

  D. Original budget

  E. Carry-forward budget

  Correct Answer: A

• Question 219:

  You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system.

  Budgets have been configured and approved for the upcoming fiscal period.

  You need to configure budget control to allow only specific users to post transactions that exceed the budget.

  Which of the following should you configure?

  A. Budget groups

  B. Main accounts

  C. Over budget permissions

  D. Budget allocations

  E. Budget models

  Correct Answer: C

• Question 220:

  You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system.

  Budgets have been configured and approved for the upcoming fiscal period.

  You need to configure budget control. You need to configure the formula for the calculation of the remaining budget to include draft or unposted documents.

  On which tab in budget control can you configure the required setting?

  A. Define budget groups

  B. Define parameters

  C. Budget funds available

  D. Assign budget models

  E. Documents and journals

  Correct Answer: C