Microsoft Microsoft Certifications MB-310 Questions & Answers

• Question 321:

  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 multiple legal entities set up in Dynamics 365 Finance. All companies and data reside in Dynamics 365 Finance.

  The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Dynamics 365 Finance instead.

  You need to configure the system and correctly perform eliminations.

  Solution: Select Consolidate online in Dynamics 365 Finance. Include eliminations during the process or as a proposal. Set up the transactions to post in the legal entity configured for consolidations.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: B

  Instead of 'Set up the transactions to post' in the legal entity configured for consolidations the statement should be 'The transactions will be posted in the consolidation company'

  References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview

• Question 322:

  You are configuring Dynamics 365 Finance.

  You need to implement posting definitions for all available transaction types.

  For which type of transactions can you implement posting definitions?

  A. Accounts payable, Accounts receivable, Bank, Budget, Payroll, and Purchasing

  B. Accounts payable, Bank, Budget, Fixed assets, and Payroll

  C. Accounts payable, Accounts receivable, Fixed assets, Payroll, and Purchasing

  D. Accounts payable, Accounts receivable, Budget, and Fixed assets

  Correct Answer: A

  A is correct. Navigate to Posting Definitions page, click new and select the Module field to open the available list. You will note that there is no option to select "Fixed Assets". This rules out B, C and D.

• Question 323:

  A public sector company is configuring encumbrance for managing capital budgets.

  The finance department needs to configure posting definitions for bank transactions.

  You need to configure Dynamics 365 Finance for cash settlements.

  What should you do?

  A. Configure combined deposit amounts

  B. Configure budget appropriations

  C. Configure general ledger year-end close

  D. Configure advanced ledger entries

  Correct Answer: A

  Examples: Pooled cash settlements Pooled cash accounting consists of amounts that are deposited by individual funds into a combined ledger account. This improves the control and custody over liquid assets, and promotes the efficient management of excess funds. These amounts can be managed by using a Treasurer's fund. Therefore, the appropriate proportional amount of the pooled cash and investment balances must be reported for each fund that participates in the pool. To guarantee this, appropriate due-to and due-from entries must be added to the settlements that transfer amounts from one fund to another to accomplish the settlement.

• Question 324:

  An organization plans to set up intercompany accounting between legal entities within the organization. Automatic transactions between legal entities must meet the following requirements:

  1.

  Provides systemwide integration and streamlining to save time

  2.

  Minimizes errors and create an audit trail with full visibility into business activities and transaction histories within the legal entities

  You need to set up intercompany accounting and create pairs of legal entities that can transact with each other, clearly defining the originating company and the destination company.

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

  NOTE: Each correct selection is worth one point.

  A. Select intercompany journal names.

  B. Configure intercompany accounting in both the originating entity and destination entity.

  C. Create intercompany main accounts to use for the due to and due from accounting entries.

  D. Define intercompany accounting setup by creating legal entity pairs defining originating and destination companies.

  E. Configure intercompany accounting in the destination entity only.

  Correct Answer: ACD

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/intercompany-accounting-setup

• Question 325:

  A client has one legal entity and the following four dimensions configured: Business Unit, Cost Center, Department, and Division.

  You need to configure the client's system to run the trial balance inquiry in the General ledger module so that it displays the trial balance two ways:

  1.

  Include the main account and all four dimensions.

  2.

  Include the main account and only the business unit and cost center dimensions. What should you configure?

  A. two account structures

  B. two derived financial dimension hierarchies

  C. all financial dimensions by using the group dimension functionality

  D. two financial dimension sets

  Correct Answer: D

• Question 326:

  You are configuring intercompany accounting for a multicompany enterprise.

  You need to set up the Due to and Due from accounts.

  Which main account type should you use?

  A. Profit and loss

  B. Expense

  C. Balance sheet

  D. Liability

  E. Asset

  Correct Answer: C

  References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/intercompany-accounting-setup

• Question 327:

  A company provides employee life insurance to all full-time employees. Employee life insurance policies are paid twice a year to the insurance company.

  Transactions for current employees must be recognized in the general ledger twice a month with an employee's pay. Transactions for new employees must be recognized in the general ledger based upon the employee's first pay date.

  You need to configure accrual schemes for the new fiscal year.

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

  NOTE: Each correct selection is worth one point.

  A. For new employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.

  B. For current employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.

  C. For new employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.

  D. For current employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.

  Correct Answer: CD

  For both current and new employees, it has to be Debit accrual scheme. The financial impact has to be same and only the date has to be different.

• Question 328:

  An organization uses Dynamics 365 Finance.

  Several posted journal entries contain invalid main account and dimension combinations. This leads to incorrect financial reporting.

  You need to prevent these invalid combinations.

  What should you do?

  A. Configure the account structure to specify which financial dimensions are valid for which main accounts.

  B. Train users to select the Validate button in the current journal configuration so that the correct account and dimension combination is used.

  C. Configure financial dimension sets to limit which financial dimensions are valid for which main accounts.

  D. Associate the correct main accounts to that financial dimension on the financial dimension setup form.

  Correct Answer: A

  References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/configure-account-structures

• Question 329:

  A legal entity has locations and customers in multiple states within the United States.

  You need to ensure that taxable customers are charged sales tax for taxable items in their delivery location.

  Which three settings must you configureEach correct answer presents part of the solution.

  NOTE: Each correct selection is worth one point.

  A. the Sales tax group on the Customer record

  B. the Terms of delivery setup

  C. the Item Sales tax group on the Item record

  D. the Sales reporting codes

  E. the Sales tax codes

  Correct Answer: ACE

  The delivery setup is not what controls the location and thus tax code.

• Question 330:

  A company plans to create a new allocation rule for electric utilities expenses. The allocation rule must meet the following requirements:

  1.

  Distribute overhead utility expense to each department.

  2.

  Define how and in what proportion the source amounts must be distributed on various destination lines.

  You need to configure the allocation rule.

  Which allocation method should you use?

  A. Distribute the source document amount equally

  B. Fixed weight

  C. Equally

  D. Basis

  Correct Answer: D

  This variable method is used when the allocation depends on the actual ledger balance, based on filter criteria. For example, advertising expenses can be allocated based on each department's sales in proportion to the total departmental sales.

  Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/ledger-allocation-rules