A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the
Accounts team.
You are providing training on the cost accounting module in the Dynamics 365 Finance system.
Which of the following statements describes the allocation base?
A. Used to measure and quantify activities, such as machine hours that are used, kilowatt hours that are consumed, or square footage that is occupied.
B. Defined by calendar, currency, and cost element dimension, it controls processes and policies for measuring costs.
C. Used as a function to track and categorize costs.
D. Classifies costs according to their behavior in relation to changes in key business activities.
A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the
Accounts team.
You are providing training on the cost accounting module in the Dynamics 365 Finance system.
Which of the following statements describes a cost element?
A. The result of a transfer via data connectors from general ledger entries, cost allocations, and posted cost entries in cost journals.
B. Used as a function to track and categorize costs.
C. Classifies costs according to their behavior in relation to changes in key business activities.
D. Used to distribute cost from one cost object to one or more other cost objects by applying a relevant allocation base.
A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Systems Administrator. Your role will include the management of the Dynamics 365 system.
You need to configure the account structure.
For the Business Unit dimension, you need to ensure that all values and blank values are allowed.
Which of the following values should you include for the business unit dimension?
A. * (asterisk)
B. ALL
C. *; " "(asterisk and quotation marks separated by a comma)
D. *; " "(asterisk and quotation marks separated by a semicolon)
A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Systems Administrator. Your role will include the management of the Dynamics 365 system. The company has several departments. You need to configure allocations for the departments. The company has the following requirements for the allocations:
1.
The allocations should be fixed or variable.
2.
Allocation journal entries must be automatically created for review before posting.
You need to configure the system to meet the requirements.
What should you configure?
A. Transfer balance
B. Allocation terms
C. Ledger settlements
D. Ledger allocation rules
Your role of Systems Administrator includes the management of your company's Microsoft Dynamics 365 Finance system.
You need to configure posting definitions and posting profiles. You need to determine under which circumstance you should configure a posting definition or a posting profile.
Which two of the following statements are true(Choose two).
A. You should use posting definitions when you need to support encumbrance accounting for purchase orders and pre-encumbrance accounting for purchase requisitions.
B. You should use posting profiles when you need to support encumbrance accounting for purchase orders and pre-encumbrance accounting for purchase requisitions.
C. You should use posting definitions when you need to generate multiple, balanced ledger entries based on attributes such as transaction types and accounts.
D. You should use posting definitions when you need only one offset ledger entry.
Your role of Systems Administrator includes the management of your company's Microsoft Dynamics 365 Finance system. The company has several departments.
The company spends a lot of money each year on marketing campaigns.
You need to configure allocation rules to divide the marketing costs between the company departments.
The marketing expenses must be allocated based on each department's sales in proportion to the total departmental sales.
Which allocation method should you use in the allocation rule?
A. Basis
B. Fixed percentage
C. Fixed weight
D. Equally
A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Systems Administrator. Your role will include the management of the Dynamics 365 Finance system.
You need to configure fiscal calendars to be used with fixed asset depreciation, financial transactions, and budget cycles.
Which two of the following statements are true(Choose two)
A. A fiscal calendar can contain multiple fiscal years.
B. A fiscal calendar is limited to a maximum of one year.
C. A fiscal calendar can be used by multiple legal entities.
D. A fiscal period can contain multiple fiscal calendars.
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 one account structure with department, division, project and customer dimensions.
2.
Configure asterisks in all columns for Expense accounts (6000-6999), Revenue accounts (4000-4999), and Liability accounts (2000-2999).
Does the solution meet the goal?
A. Yes
B. No
A customer uses Dynamics 365 Finance to manage budgets.
You review a customer's budget funds available calculation and discover that the budget amounts posted two weeks ago are not reflected in the budget control check on a purchase order.
You verify that budget control is set to active.
You need to determine why the budget posted two weeks ago is not reflecting correctly.
What should you do?
A. Verify that available budget funds are configured appropriately.
B. Post a budget transfer to add the correct funds.
C. Verify whether budget plans are still in draft status.
D. Compare the budget control active date to the date of the posted register entries to verify that it was active at the time of posting.
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:
1.
Only expense accounts require dimensions posted with the transactions.
2.
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 default financial dimensions on expense accounts only.
Does the solution meet the goal?
A. Yes
B. No
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