Microsoft Microsoft Certifications MB-310 Questions & Answers

• Question 281:

  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 customer creates a purchase order for purchase $20,000 of office furniture.

  You need to configure the system to ensure that the funds are reserved when the purchase order is confirmed.

  Solution: Set up posting definitions for purchase requisitions.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: B

• Question 282:

  You are configuring the basic budgeting for a Dynamics 365 Finance environment.

  You need to configure the types of entries allowed.

  Which two configurations can you useEach correct answer presents a complete solution.

  NOTE: Each correct selection is worth one point,

  A. The budget register entry journals require both Expense and Revenue amount types.

  B. Budget register entry line needs a main account and amount to be valid.

  C. Budget register entry journals must be allocated across all fiscal periods.

  D. Budget register entry lines must select only one account structure.

  E. The budget register entries can contain either Expense or Revenue amount types.

  Correct Answer: DE

• Question 283:

  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 customer creates a purchase order for purchase $20,000 of office furniture.

  You need to configure the system to ensure that the funds are reserved when the purchase order is confirmed.

  Solution: Configure a posting definition for purchase orders.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: A

  When you enable encumbrance processing by selecting Enable encumbrance process on the General ledger parameters page, posting definitions must be used to record encumbrances to the general ledger for any accounts that should be reserved. In most cases, all expense accounts are reserved on the balance sheet.

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/example-posting-definitions

• Question 284:

  A customer uses the sales tax functionality in Dynamics 365 Finance.

  The customer reports that when a sales order is created, sales tax does not calculate on the line.

  You need to determine why sales tax is not calculated.

  What are two possible reasonsEach correct answer presents a complete solution.

  NOTE: Each correct selection is worth one point.

  A. The sales tax group is populated on the line, but the item sales tax group is missing.

  B. The sales tax settlement account is not configured correctly.

  C. The sales tax authority is not set up for the correct jurisdiction.

  D. The sales tax code and item sales tax code are selected, but the sales tax group is not associated to both codes.

  E. The sales tax group and item sales tax group are selected, but the sales tax code is not associated with both groups.

  Correct Answer: AE

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/indirect-taxes-overview https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/set-up-sales-tax-groups-item-sales-tax-groups

• Question 285:

  A client wants Dynamics 365 Finance to calculate sales tax on a sales order line once an item is added. The sales tax group is already populated with a value.

  You need to ensure that the sales tax will calculate.

  Which field should you populate?

  A. sales tax code

  B. item group

  C. customer address

  D. item sales tax group

  Correct Answer: D

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/indirect-taxes-overview

• Question 286:

  A company is preparing to complete yearly budgets.

  The company plans to use the Budget module in Dynamics 365 Finance for budget management.

  You need to create the new budgets.

  What should you do?

  A. Create budget plans for multiple scenarios.

  B. Create budget plans to define the revenues for a budget.

  C. Combine previous year budgets into a single budget.

  Correct Answer: A

  Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-overview-configuration

• Question 287:

  You are a finance consultant. Your client needs you to configure cash flow forecasting. The client wants specific percentages of main accounts to contribute to different cash flow forecasts for other main accounts.

  You need to configure Dynamics 365 for Finance to meet the needs of the client.

  What should you do?

  A. On the Cash flow forecasting setup form, configure the primary main account to assign a percentage to the dependent account.

  B. Configure the parent/child relationship for the main account and subaccounts by using appropriate percentages.

  C. Configure the cash flow forecasting setup for Accounts Payable before you configure vendor posting profiles.

  D. On the Cash flow forecasting setup form, use the Dependent Accounts setup to specify which account and percentage is associated to the main account.

  Correct Answer: D

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/cash-bank-management/cash-flow-forecasting

• Question 288:

  A company plans to use Dynamics 365 Finance to calculate sales tax on sales orders.

  You need to automatically calculate sales tax when the sales order is created.

  Which three actions should you performEach correct answer presents part of the solution.

  NOTE: Each correct selection is worth one point,

  A. Assign values to the sales tax codes and assign the sales tax codes to the sales tax group associated to the customer.

  B. Assign all sales tax codes to the item sales tax group associated to the item being sold.

  C. Set up a default item sales tax group on the item being sold and set up a default sales tax group on the customer used on the sales order.

  D. Associate the sales tax jurisdictions to the item sales tax group associated to the item being sold.

  E. Set up a default sales tax code on the customer used on the sales order and set up a default item sales tax group on the item being sold.

  Correct Answer: ABC

  ABC also seems correct to me.

  On every transaction (sales/purchase document lines, journals, and so on), you must enter a sales tax group and an item sales tax group to calculate sales tax. Default groups are specified in master data (for example, customer, vendor, item,

  and procurement category), but you can manually change the groups on a transaction if you must. Both groups contain a list of sales tax codes, and the intersection of the two lists of sales tax codes determines the list of applicable sales tax

  codes for the transaction.

  https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/indirect-taxes-overview

• Question 289:

  You are a Dynamics 365 Finance expert for an organization.

  You need to configure the Financial period close workspace.

  Which three configuration processes should you useEach correct answer presents a part of the solution.

  NOTE: Each correct selection is worth one point,

  A. Create templates that contain the required tasks within the closing process and assign to closing role.

  B. Create a separate closing schedule for every legal entity.

  C. Assign a ledger calendar to the closing process.

  D. Create task areas and descriptions.

  E. Designate resources and their scope based on closing roles.

  Correct Answer: ADE

  See menu: General ledger > Period close > Financial period close configuration This page has the following tabs:

  -Closing schedule

  -

  Templates (the template defines the tasks to be done during the closing process)

  -

  Calendars (these are not the ledger calendars! - defines only start and enddate together with specifications which weekdays) are valid

  -Task areas (containing task id(s) and description)

  -Resources (Employees linked to closing roles)

  -Closing roles

  What misleads is the fact the ledger calendars are found in the menu 'General Ledger > Period close'

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-period-close-workspace

• Question 290:

  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

  Correct Answer: D

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-period-close-workspace