Microsoft Microsoft Certifications MB-310 Questions & Answers

• Question 291:

  You are a Dynamics 365 Finance consultant. You plan to configure the allocation base, cost behavior, and cost distribution.

  Which three actions do these configurations accomplishEach correct answer presents a complete solution.

  NOTE: Each correct selection is worth one point.

  A. Spread costs from one cost object to one or more other cost objects by applying a relevant allocation base.

  B. Measure and quantify activities, such as machine hours that are used, kilowatt hours that are consumed, or square footage that is occupied.

  C. Spread the balance of the cost from one cost object to one or more other cost objects by applying a relevant allocation base.

  D. Control which journals can be used in the costing process.

  E. Classify costs according to their behavior in relation to changes in key business activities.

  Correct Answer: ABE

  Cost distribution: used to distribute cost from one cost object to one or more other cost objects by applying a relevant allocation base Allocation base: 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

  Cost behavior: classifies costs according to their behavior in relation to changes in key business activities

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

• Question 292:

  You are setting up the Accounts payable module and vendor invoice policies for an organization. You need to set up vendor invoice policies that run when vendor invoices are posted in the system. In which two ways can you set up the policiesEach correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

  A. Set up invoice matching validation for vendor invoice policy.

  B. Configure the vendor invoice workflow to run the policies.

  C. Run the policies when you post a vendor invoice by using the Vendor invoice page and when you open the Vendor invoice policy violations page.

  D. Apply the policies to invoices that were created in the invoice register or invoice journal.

  Correct Answer: BC

  Reference: https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/key-tasks-vendor-invoice-policies

• Question 293:

  A company has many customers who are not paying invoices on time.

  You need to use the collection letter functionality to manage customer delinquencies.

  What are two possible ways to achieve the goalEach correct answer presents part of the solution.

  NOTE: Each correct selection is worth one point.

  A. Cancel the collection letters after they are created and posted.

  B. Print all of the collection letters.

  C. Delete the collection letters after posting when an error occurs.

  D. Post the collection letters.

  Correct Answer: BD

  Reference: http://d365tour.com/en/microsoft-dynamics-d365o/finance-d365fo-en/collection-letters/

• Question 294:

  You are configuring vendor collaboration security roles for external vendors. You manually set up a vendor contact.

  You need to assign the Vendor (external) role to this vendor.

  Which tasks can this vendor perform?

  A. Request a new user account for a contact person by using the Provision user action.

  B. Maintain vendor collaboration invoices.

  C. Delete any contact person that they have created.

  D. View and modify contact person information, such as the person's title, email address, and telephone number.

  Correct Answer: B

  Note:

  There are several versions of this question in the exam. The question has two possible correct answers:

  1.

  View consignment inventory.

  2.

  Maintain vendor collaboration invoices.

  Other incorrect answer options you may see on the exam include the following:

  1.

  Add a new or existing contact person to the vendor accounts that they are a contact for.

  2.

  Request a new user account for a contact person by using the Provision user action.

  3.

  Deny or allow a contact person's access to documents on the vendor collaboration interface that are specific to the vendor account.

  4.

  Maintain vendor collaboration invoices.

  References:

  https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/procurement/set-up-maintain-vendor-collaboration

• Question 295:

  You are setting up the yearly budget for an organization for the year 2019.

  You need to set up the budget register entries.

  Which two fields must be set up when creating register entriesEach correct answer presents part of the solution.

  NOTE: Each correct selection is worth one point.

  A. Budget cycle

  B. Budget manager

  C. Budget code

  D. Budget model

  Correct Answer: CD

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/basic-budgeting-overview-configuration

• Question 296:

  A company configures budget controls at the beginning of the year.

  Which three budget control transaction actions occur when the budget control is turned off mid-year. Each correct answer presents part of the solution.

  NOTE: Each correct selection is worth one point.

  A. Activities are unrecorded for budget control purposes.

  B. Budget register entries that have been posted after budget control is turned off will not be considered for budget control.

  C. Posted documents might incorrectly reflect any relieving amounts or balances in inquiries and reports that are related to budget control.

  D. Budget checks are performed.

  E. You can view the budget reporting through financial reports.

  Correct Answer: ABC

  After budget control is turned on and active, and after transactions are posted, it should not be turned off mid-year. When budget control is turned off, activities aren't recorded for budget control purposes, and budget checks are no longer performed. Therefore, documents that have already been posted might not correctly reflect any relieving amounts or balances in inquiries and reports that are related to budget control. These include budget control statistics for any downstream or adjusting documents and journals. Additionally, note that transactions, including budget register entries, that have been posted before budget control is turned on aren't considered for budget control.

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/budget-control-overview-configuration

• Question 297:

  You are configuring the year-end setup in Dynamics 365 Finance.

  You need to configure the year-end setup to meet the following requirements:

  The accounting adjustments that are received in the first quarter must be able to be posted into the previous year's Period 13.

  The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.

  All dimensions from profit and loss must carry over into the retained earnings.

  All future and previous periods must have an On Hold status.

  Solution:

  Configure General ledger parameters.

  -Set the Delete close of year transactions option to Yes.

  -

  Set the Create closing transactions during transfer option to Yes.

  -

  Set the Fiscal year status to permanently closed option to Yes. Define the Year-end close template.

  -

  Designate a retained earnings main account for each legal entity.

  -

  Set the Financial dimensions will be used on the Opening transactions option to Yes.

  -Set the Transfer profit and loss dimensions to Close All. Set all prior and future Ledger periods to a status of On Hold.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: B

  Set the Financial dimensions will be used on the Opening transactions should be set to NO therefore the solution does not meet the criteria Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close

• Question 298:

  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 company is preparing to complete yearly budgets.

  The company plans to use-pie Budget module in Dynamics 365 for Finance and Operations for budget management

  You need to create the new budgets.

  Solution: Create budget plans to define the revenues for a budget

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: A

  You can use budget planning to perform the following tasks:

  Create budget plans to define the expected revenue and expenditures for a budget cycle.

  Analyze and update budget plans for multiple scenarios.

  Automatically route the budget plans, together with worksheets, justification documents, and other attachments, for review and approval.

  Consolidate multiple budget plans from a lower level of the organization into a single parent budget plan at a higher level. You can also develop a single budget plan at a higher level of the organization and allocate the budget to lower levels.

  https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/budget-planning-overview-configuration

• Question 299:

  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 company is preparing to complete yearly budgets.

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

  You need to create the new budgets.

  Solution: Combine budgets from multiple legal entities to a master budget.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: B

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

• Question 300:

  A company plans to use Dynamics 365 Finance.

  You need to configure basic budgeting.

  Which set of actions must you perform?

  A. Define a budget journal Define budgeting parameters and number sequences Create budget models Define budget codes Create budgeting workflows

  B. Define a budget journal Define budgeting parameters and number sequences Define budgeting dimensions Create budget models and codes

  C. Define budget exchange rate types Define budgeting parameters and number sequences Define budgeting dimensions Create budget models Define budget codes

  D. Define budget exchange rate types Define budgeting parameters and number sequences Define financial dimensions Create budget models Define budget codes

  Correct Answer: D

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