Microsoft Microsoft Certifications MB-310 Questions & Answers

• Question 371:

  You manage a Dynamics 365 Finance implementation.

  You must provide the budget versus actual reporting in near real time.

  You need to configure the ledger budgets and forecasts workspace to track expenses over budget and revenue under budget.

  Solution: Select organization hierarchy from the Configure my workspace form. Set an expense budget threshold percent.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: A

  Explanation:

  Using Ledger budgets and forecasts workspace

  The budget manager can review the current state of a budget in the Ledger budgets and forecasts workspace. The Expense over budget and Revenue under budget tabs provide a quick view of the financial dimension combinations where

  budget targets aren't being met or are approaching the threshold. You can personalize the budget threshold percentage and financial dimension sets that are used on those tabs by selecting Configure my workspace. You can select Unit

  managers to see the workers who are responsible for specific financial dimension combinations that are selected on those tabs. For example, if you see that the expense budget of the Operations department is going over the budget

  threshold, you can easily find and contact the Operations department manager to discuss the issue.

  The Department manager field on the Organization Units page determines which managers support specific financial dimension combinations. Select See more at the bottom of the tab to open the Budget vs actuals inquiry page for more

  details about budget amounts versus actual amounts.

  The Actual vs budget inquiry page lets you drill into the details of the budget versus actual amounts. Select a line on the inquiry page, and then select Period balances to see budget and actual amounts spread across fiscal periods. The

  Budget account entries page provides drill-through to the details of the budget amount in budget register entries. The General journal entries page opens the ledger transactions that are included in the calculated Actuals amount.

• Question 372:

  You manage a Dynamics 365 Finance implementation.

  You must provide the budget versus actual reporting in near real time.

  You need to configure the ledger budgets and forecasts workspace to track expenses over budget and revenue under budget.

  Solution: Configure an expense dimension set, expense budget threshold, revenue dimension set, and revenue budget threshold percent field values on the Configure my workspace form.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: B

  Explanation:

  Correct Solution: Select organization hierarchy from the Configure my workspace form. Set an expense budget threshold percent.

  Using Ledger budgets and forecasts workspace

  The budget manager can review the current state of a budget in the Ledger budgets and forecasts workspace. The Expense over budget and Revenue under budget tabs provide a quick view of the financial dimension combinations where

  budget targets aren't being met or are approaching the threshold. You can personalize the budget threshold percentage and financial dimension sets that are used on those tabs by selecting Configure my workspace. You can select Unit

  managers to see the workers who are responsible for specific financial dimension combinations that are selected on those tabs. For example, if you see that the expense budget of the Operations department is going over the budget

  threshold, you can easily find and contact the Operations department manager to discuss the issue.

  The Department manager field on the Organization Units page determines which managers support specific financial dimension combinations. Select See more at the bottom of the tab to open the Budget vs actuals inquiry page for more

  details about budget amounts versus actual amounts.

  The Actual vs budget inquiry page lets you drill into the details of the budget versus actual amounts. Select a line on the inquiry page, and then select Period balances to see budget and actual amounts spread across fiscal periods. The

  Budget account entries page provides drill-through to the details of the budget amount in budget register entries. The General journal entries page opens the ledger transactions that are included in the calculated Actuals amount.

• Question 373:

  You manage a Dynamics 365 Finance implementation.

  You must provide the budget versus actual reporting in near real time.

  You need to configure the ledger budgets and forecasts workspace to track expenses over budget and revenue under budget.

  Solution: Define a budget model. Set active forecasting process to the current year forecast.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: B

  Explanation:

  Correct Solution: Select organization hierarchy from the Configure my workspace form. Set an expense budget threshold percent.

  Using Ledger budgets and forecasts workspace.

  The budget manager can review the current state of a budget in the Ledger budgets and forecasts workspace. The Expense over budget and Revenue under budget tabs provide a quick view of the financial dimension combinations where

  budget targets aren't being met or are approaching the threshold. You can personalize the budget threshold percentage and financial dimension sets that are used on those tabs by selecting Configure my workspace. You can select Unit

  managers to see the workers who are responsible for specific financial dimension combinations that are selected on those tabs. For example, if you see that the expense budget of the Operations department is going over the budget

  threshold, you can easily find and contact the Operations department manager to discuss the issue.

  The Department manager field on the Organization Units page determines which managers support specific financial dimension combinations. Select See more at the bottom of the tab to open the Budget vs actuals inquiry page for more

  details about budget amounts versus actual amounts.

  The Actual vs budget inquiry page lets you drill into the details of the budget versus actual amounts. Select a line on the inquiry page, and then select Period balances to see budget and actual amounts spread across fiscal periods. The

  Budget account entries page provides drill-through to the details of the budget amount in budget register entries. The General journal entries page opens the ledger transactions that are included in the calculated Actuals amount.

• Question 374:

  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 uses Dynamics 365 Finance.

  The customer payment journal must only be available for selection by the accounts receivable user group.

  You need to configure the accounts receivable journal name to meet the requirement.

  Solution: Configure the journal control.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: B

  Explanation:

  Correct solution: Configure the journal approval.

  Approve a journal

  A member of the user group that was designated in the Journal names form can approve the journal.

  Note: Approve a journal

  If journals are approved by a user other than the one who enters the journal lines, an approval system can be set up. The posting function will be unavailable until the approver has approved the journal. If the journal is rejected instead of

  approved, it cannot be posted.

  Reference:

  https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/approve-a-journal

• Question 375:

  A company uses Dynamics 365 Finance.

  The customer payment journal must only be available for selection by the accounts receivable user group.

  You need to configure the accounts receivable journal name to meet the requirement.

  Solution: Configure blocking and select private for the user group value.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: B

  Explanation:

  Correct solution: Configure the journal approval.

  Approve a journal

  A member of the user group that was designated in the Journal names form can approve the journal.

  Note: Approve a journal

  If journals are approved by a user other than the one who enters the journal lines, an approval system can be set up. The posting function will be unavailable until the approver has approved the journal. If the journal is rejected instead of

  approved, it cannot be posted.

  Reference:

  https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/approve-a-journal

• Question 376:

  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 uses Dynamics 365 Finance.

  The customer payment journal must only be available for selection by the accounts receivable user group.

  You need to configure the accounts receivable journal name to meet the requirement.

  Solution: Configure the journal approval.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: A

  Explanation:

  Approve a journal

  A member of the user group that was designated in the Journal names form can approve the journal.

  Note: Approve a journal

  If journals are approved by a user other than the one who enters the journal lines, an approval system can be set up. The posting function will be unavailable until the approver has approved the journal. If the journal is rejected instead of

  approved, it cannot be posted.

  Reference:

  https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/approve-a-journal

• Question 377:

  You configure the basic budgeting functionality of Dynamics 365 Finance. You add budget values and actuals in the system.

  You need to compare the budget values with the actual values.

  Which three actions should you perform?

  Each correct answer presents part of the solution.

  NOTE: Each correct selection is worth one point.

  A. Compare customer and vendor balances and budget register entries that are posted in the system.

  B. Review budget and actual amounts that are spread across fiscal periods.

  C. Generate a report on the differences between the actual fixed assets amounts and the preliminary budgeted amounts in the system.

  D. Review general ledger transactions that are included in the calculated actuals amounts.

  E. Drill through the details of the budget amount in budget register entries posted in the system.

  Correct Answer: BCD

  Explanation:

  Analyze Actual Amounts Versus Budgeted Amounts

  As a part of gathering, analyzing, and sharing your company data, you view actual amounts compared to budgeted amounts for all accounts and for several periods.

  D: To analyze budgeted amounts, you must first create general ledger (G/L) budgets.

  View a G/L budget

  In a budget with dimensions, you can filter the entries and see specific budgets.

  Choose the Search icon, enter G/L Budgets, then choose the related link.

  On the G/L Budgets page, open the budget you want to view.

  At the top of the page, fill in the fields necessary to define what is shown. Hover over a field to read a short description.

  View actual and budgeted amounts for all accounts

  You can view general ledger budgets and compare them with actual figures in several areas of Business Central.

  Choose the Search icon, enter Chart of Accounts, then choose the related link.

  On the Chart of Accounts page, choose the G/L Balance/Budget action.

  On the Options FastTab, fill in the fields as necessary to define what is displayed in the table.

  Hover over a field on the table to read a short description about the displayed amount.

  B: To view actual and budgeted amounts for several periods

  Instead of viewing the actual and budgeted amounts for all accounts within a single period, you can view a number of periods for a single account.

  Choose the Search icon, enter Chart of Accounts, then choose the related link.

  On the Chart of Accounts page, select the relevant general ledger account, then choose the G/L Account Balance/Budget action.

  On the Options FastTab, fill in the fields as necessary to define what is displayed in the table.

  On the Lines FastTab, hover over a field on the table to read a short description about the displayed amount.

  C: Actual versus budget report (BudgetBalancesActuals)

  The Actual versus budget report displays budget balances for the original budget, revised budget, actual expenditures, and variances. The original budget amounts are the sum of expense and revenue budget amounts. The revised budget

  amounts are the sum of original budget, revisions, transfers, and carry-forward amounts. The actual expenditures are the sum of the debits and credits that were posted for the selected financial dimension values. Variances are the differences

  between actual and revised budget amounts, expressed as amounts and percentages. The report is grouped by budget model and dimension values.

  Reference:

  https://learn.microsoft.com/en-us/dynamics365/business-central/bi-how-analyze-actual-versus-budget

  https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/actual-versus-budget-report-budgetbalancesactuals

• Question 378:

  You use Dynamics 365 Finance. Your company offers cash discounts. The discounts are offered sequentially to specific customers. Customers must pay their invoices within a specified time period. The cash discounts are as follows:

  5D10% - Cash discount of 10 percent when the amount is paid within 5 days. 10D5% - Cash discount of 5 percent when the amount is paid within 10 days. 14D2% - Cash discount of 2 percent when the amount is paid within 14 days.

  Cash discounts can only be given if the payments are made within 10 days. You need to configure cash discounts. What should you do?

  A. Create a new cash discount code of 14D10%.

  B. Create a new cash discount code of 10D14%.

  C. Delete the 14D2% cash discount code.

  D. Delete the 14D2% cash discount code from the next discount code list value of 10D5%.

  Correct Answer: D

• Question 379:

  A company uses Dynamics 365 Finance. The company accepts customer payments in installments.

  You must configure the number of installments, the amount of each installment, and a due date of each installment for a payment schedule to determine the revenue allocation for each month. You must provide the total revenue amounts

  allocated over a period for a specific payment.

  You need to configure the system to allocate the total outstanding amount of an invoke.

  What should you configure?

  A. Terms of payment

  B. A payment schedule with a method of allocation set to Fixed amount

  C. Payment days.

  D. A payment schedule with a method of allocation set to Total.

  Correct Answer: D

• Question 380:

  You manage a Dynamics 365 Finance implementation.

  You must provide the budget versus actual reporting in near real time.

  You need to configure the ledger budgets and forecasts workspace to track expenses over budget and revenue under budget.

  Solution: Configure an expense dimension set. Configure the set show amounts field value to per budget cycle.

  Does the solution meet the goal?

  A. Yes

  B. No

  Correct Answer: B