Microsoft Microsoft Certifications MB-310 Questions & Answers

• Question 361:

  You need to configure settings to resolve User8's issue. What should you select?

  A. a main account in the sales tax payable field

  B. a main account in the settlement account field

  C. the Conditional sales tax checkbox

  D. the Standard sales tax checkbox

  Correct Answer: B

  "In the Settlement account field, select the main account that the net balance of the ledger accounts specified in the Use tax payable and Sales tax receivable fields will be posted." This means to set up only Sales tax receivable account is part of configuring, the whole resolve is to set the Settlement account field too.

  https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/set-up-ledger-posting-groups-sales-tax

• Question 362:

  You need to view the results of Fourth Coffee Holding Company's consolidation.

  Which three places show the results of financial consolidation? Each correct answer presents a complete solution.

  NOTE: Each correct selection is worth one point.

  A. a financial report run against the company Fourth Coffee

  B. a trial balance in the Fourth Coffee Holding Company

  C. a trial balance in the company Fourth Coffee

  D. a financial report run against the Fourth Coffee Holding Company

  E. the consolidations form in Fourth Coffee Holding Company

  Correct Answer: BDE

  all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes.

• Question 363:

  You need to configure the system to resolve User8's issue. What should you select?

  A. the Standard sales tax checkbox

  B. the Conditional sales tax checkbox

  C. a main account in the settlement account field

  D. a main account in the sales tax payable field

  Correct Answer: C

  https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/set-up-ledger-posting-groups-sales-tax

• Question 364:

  You need to determine why CustomerX is unable to confirm another sales order.

  What are two possible reasons? Each answer is a complete solution.

  NOTE: Each correct selection is worth one point.

  A. The credit limit parameter is set to Balance + All.

  B. The credit limit is set to 0.

  C. An inventory item is out of stock.

  D. The inventory safety stock is set to 0.

  Correct Answer: AC

• Question 365:

  A company plans to implement Dynamics 365 Finance. The company manages a high volume of customers.

  The finance team wants to enable the following capabilities for each set of customers:

  Create sales budgets.

  Generate trade statistics such as weekly sales.

  Define ledger posting.

  Define terms of payment.

  You need to select functionality that defines clusters of customers. Which configuration should you select?

  A. Customer groups

  B. Customer payment terms

  C. Customer posting profiles

  D. Customer sales agreements

  Correct Answer: A

  Reference:

  https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/create-a-customer-group

  https://learn.microsoft.com/en-us/dynamics365/finance/accounts-receivable/customer-posting-profiles

  https://stoneridgesoftware.com/all-about-customer-groups-in-microsoft-dynamics-365-for-finance-and-operations/

• Question 366:

  The controller at a company has multiple employees who enter standard General ledger journals. The controller wants to review these journal entries before they are posted. Currently, journals entries are posted without review.

  You need to configure Dynamics 365 Finance to help set up a system led review process to meet the controller's needs.

  Which functionality should you configure?

  A. the controller's security role so that he has approval privileges for General ledger journals

  B. an Advanced ledger entry workflow that uses the organizational hierarchy for journal posting, associated with the Advanced ledger journal name

  C. a Ledger daily journal workflow that uses the organizational hierarchy for journal posting, associated with the General ledger journal name

  D. a manual journal approval with the journal assigned to the user group that the employees are assigned to

  Correct Answer: D

  Explanation:

  Some organizations require that journals be approved by a user other than the user who entered the journal. Two types of approvals are available for financial journals: manual and workflow. Based on journal names, you can require manual

  approval, workflow approval, or no approval. You cannot use both the manual approval system and the workflow approval system for the same journal name.

  If manual journal approval is required, a user who enters transactions in a journal reports the journal as ready. An authorized user must approve the journal in the relevant Journal form before the journal can be posted.

  Reference:

  https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/set-up-financial-journal-approvals

• Question 367:

  A company uses Dynamics 365 Finance to include multiple business units as a financial dimension.

  All customer payment journals must be posted to the headquarters

  Correct Answer: A

  Reference:

  https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/general-journal-processing

  https://www.cloudfronts.com/blog/d365-enterprise/d365-finance-operations/posting-restriction-for-journals-dynamics-365-finance-operations/

• Question 368:

  A company uses the credit and collections features of Dynamics 365 Finance to track invoices and incoming payments from customers.

  You need to configure the automatic collection task.

  Which two options should you configure? Each correct answer presents part of the solution.

  NOTE: Each correct selection is worth one point.

  A. Posting profiles

  B. Aging period definitions

  C. Process hierarchy

  D. Quiet days

  Correct Answer: CD

  Explanation:

  Process hierarchy

  Each customer pool can only be assigned to one process hierarchy. The hierarchy rank of this step identifies which process will take precedence if a customer is included in more than one pool that has a process hierarchy assigned. The pool

  ID determines which customers will be assigned to the process. Each hierarchy that is setup can only be assigned to one process automation.

  The quiet days are used to ensure that a customer doesn't get contacted too frequently by the automated process. For example, if the quiet days are set to two, a customer will not be contacted by the automated process for at least two days,

  even if the original leading invoice has been settled in full.

  Reference:

  https://learn.microsoft.com/en-us/dynamics365/finance/accounts-receivable/collections-process-automate

• Question 369:

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

  A. Mid-month split

  B. First of month

  C. Monthly by days

  D. First of next month

  Correct Answer: C

  Explanation:

  Recognition basis

• Question 370:

  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 task can this vendor perform?

  A. Delete any contact person that they have created.

  B. Activate or inactivate the association between a contact person and a vendor account.

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

  D. View consignment inventory.

  Correct Answer: D

  Explanation:

  Note:

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

  View consignment inventory.

  Maintain vendor collaboration invoices.

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

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

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

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

  Maintain vendor collaboration invoices.

  Reference:

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