Microsoft Microsoft Certifications MB-310 Questions & Answers

• Question 381:

  SIMULATION

  You are a functional consultant for Contoso Entertainment System USA (USMF).

  You need to automate the allocation of a prepaid expense of 2 percent of all product sales. The allocation must be posted to account number 222222.

  To complete this task, sign in to the Dynamics 365 portal.

  Correct Answer: explanation

  You need to configure a prepayment percentage for all items. The instructions below are for a single item. For this question, you need to select ‘All’ for all items, enter 2 in the percentage field and select account number 222222 in the account

  field.

  To set up prepayment percentages for items, customers, and vendors

  For an item, you can set up a default prepayment percentage for all customers, a specific customer, or a customer price group.

  

  icon, enter Items, and then choose the related link.

  1.

  Choose the

  2.

  Select an item, and then choose the Prepayment Percentages action.

  3.

  On the Sales Prepayment Percentages page, fill in the fields as necessary. Hover over a field to read a short description.

  Reference: https://docs.microsoft.com/en-gb/dynamics365/business-central/finance-set-up-prepayments

• Question 382:

  SIMULATION

  You are a functional consultant for Contoso Entertainment System USA (USMF).

  You plan to settle accounts by receiving cash payments in US currency.

  You need to create a cash receipts journal that uses the US dollar currency.

  To complete this task, sign in to the Dynamics 365 portal.

  Correct Answer: explanation

  1.

  Navigate to Finance > Cash Receipt Journals.

  2.

  Click the +New link to add a new cash receipt journal.

  3.

  Fill in the required fields including the currency field.

• Question 383:

  SIMULATION

  You are a functional consultant for Contoso Entertainment System USA (USMF).

  You need to apply a constant currency exchange rate to calculate the reporting currency value of fixed assets.

  To complete this task, sign in to the Dynamics 365 portal.

  Correct Answer: explanation

  The currency Translation Type needs to be set to Current. This option uses the last rate on or before the period specified in the report regardless of what the exchange rate was at the time of purchase for each asset.

  1.

  Navigate to General Ledger > Chart of Accounts > Accounts > Main Accounts.

  2.

  Select the Financial Reporting account.

  3.

  In the Reporting currency exchange rate type, select Current from the drop-down list.

  4.

  Click Save to save the changes.

• Question 384:

  SIMULATION

  You are a functional consultant for Contoso Entertainment System USA (USMF).

  You need to implement a quarterly accruals scheme for USMF. The accrual scheme settings must match the settings of the monthly and annual accrual schemes.

  To complete this task, sign in to the Dynamics 365 portal.

  Correct Answer: explanation

  Look at the monthly and annual accrual scheme settings. Create a quarterly accrual scheme with the same settings by using the following instructions:

  1.

  Go to Navigation pane > Modules > General ledger > Journal setup > Accrual schemes.

  2.

  Select New.

  3.

  In the Accrual identification field, type a value.

  4.

  In the Description of accrual scheme field, type a value.

  5.

  In the Debit field, specify the desired values. The main account defined will replace the debit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions.

  6.

  In the Credit field, specify the desired values. The main account defined will replace the credit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions.

  7.

  In the Voucher field, select how you want the voucher determined when the transactions are posted.

  8.

  In the Description field, type a value to describe the transactions that will be posted.

  9.

  In the Period frequency field, select how often the transactions should occur.

  10.In the Number of occurrences by period field, enter a number.

  11.In the Post transactions field, select when the transactions should be posted, such as Monthly.

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/create-accrual-schemes

• Question 385:

  SIMULATION

  You are a functional consultant for Contoso Entertainment System USA (USMF).

  USMF plans to implement a new manufacturing department that will be based in Australia.

  You need to create a draft account structure for the new department. The account structure must use the same account structure as a department named Manufacturing India and be named Manufacturing Australia.

  To complete this task, sign in to the Dynamics 365 portal.

  Correct Answer: explanation

  You need to create an account structure with the same structure as the department named Manufacturing India by using the following instructions.

  1.

  Go to Navigation pane > Modules > General ledger > Chart of accounts > Structures > Configure account structures.

  2.

  On the Action pane, click New to open the drop dialog.

  3.

  In the Account structure field, type a name to describe the purpose of the account structure.

  4.

  In the Description field, type a description to specify the purpose of the account structure.

  5.

  Click Create.

  6.

  In the Segments and allowed values, click Add segment.

  7.

  In the dimensions list, select the dimension to add to the account structure.

  8.

  At the end of the list, click Add segment.

  9.

  Repeat step 6 to 9 as needed.

  10.In the Allowed value details section, select the segment to edit the allowed values. For example, click the Main Account field.

  11.In the Operator field, select an option, such as is between and includes.

  12.In the Value field, type a value. For example, 600000.

  13.In the through field, type a value. For example, 699999.

  14.In the Allowed value details section, click Apply.

  15.Repeat step 10 to 15 as needed.

  16.In the Allowed value details section, click Add new criteria.

  17.In the Operator field, select an option, such as is between and includes.

  18.In the Value field, type a value. For example, 033.

  19.In the through field, type a value. For example, 034.

  20.Click Apply.

  21.In the grid, select the segment to edit the allowed values. For example, Cost Center.

  22.In the CostCenter field, type a value. For example, 007..021.

  23.In the Segments and allowed values, click Add.

  24.In the MainAccount field, type a value. For example, 600000..699999

  25.In the grid, select the segment to edit the allowed values. For example, Department.

  26.In the Department field, type a value. For example, 032.

  27.In the CostCenter field, type a value. For example, 086.

  28.On the Action pane, click Validate.

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/create-account-structures

• Question 386:

  SIMULATION

  You are a functional consultant for Contoso Entertainment System USA (USMF).

  You need to assign the Accountant closing role for the USMF legal entity to an employee named Theresa Jayne.

  To complete this task, sign in to the Dynamics 365 portal.

  Correct Answer: explanation

  1.

  Navigate to System administration > Security > Assign users to roles

  2.

  Select the `Accountant Closing' role.

  3.

  Click the "Manually assign / exclude users" button

  4.

  Select the Theresa Jayne user account and click the "Assign to role" button.

  5.

  Click the "Assign organizations" button

  6.

  Select the "Grant access to specific organizations" option

  7.

  Select the USMF legal entity and click the "Grant" button.

  Reference: https://www.dynamics-tips.com/system-administration/security-roles

• Question 387:

  SIMULATION

  You are a functional consultant for Contoso Entertainment System USA (USMF).

  You need to create a report that contains the sales tax settlements for the state of California during the quarter that began on January 1, 2017. To validate you results, save the file in Microsoft Excel format to the Downloads\Report folder.

  To complete this task, sign in to the Dynamics 365 portal.

  Correct Answer: explanation

  1.

  Navigate to Tax > Declarations > Report sales tax for settlement period.

  2.

  Enter the `From' date.

  3.

  Select the settlement period (Quarter).

  4.

  Click `OK'.

  5.

  Select Yes in the Create electronic tax document field.

  6.

  Select the Downloads\Report folder and file format.

  7.

  Click `OK'.

• Question 388:

  SIMULATION

  You are a functional consultant for a legal entity named Contoso Group (GLCO).

  You plan to sell new products that will increase in quality over time.

  You need to implement a solution that uses the Last in, First out (LIFO) inventory model for GLCO.

  To complete this task, sign in to the Dynamics 365 portal.

  Correct Answer: explanation

  You need to configure an Inventory Model Group for the new products.

  1.

  For inventory model groups, navigate to Inventory management | Setup | Inventory | Item model groups.

  2.

  Click "New" to create a new inventory model group.

  3.

  In the "Cost method and cost recognition" section, configure the "Inventory Model" setting to Last in, First out (LIFO).

  4.

  Click "Save" to save the inventory model group.

• Question 389:

  SIMULATION

  You are a functional consultant for Contoso Entertainment System USA (USMF).

  You need to generate a trial balance report for the period of January 1, 2017 to December 31, 2017. To validate you results, save the file in Microsoft Excel format to the Downloads\Trial folder.

  To complete this task, sign in to the Dynamics 365 portal.

  Correct Answer: explanation

  1.

  Click General ledger > Reports > Transactions > Trial Balance

  2.

  Enter the Start and End dates for the report.

  3.

  Click Destinations ... to specify how you want to `print' the report.

  4.

  Select File as the destination.

  5.

  Select the Downloads\Trial folder for the location.

  6.

  Select Microsoft Excel for the file format.

  7.

  Click OK to close the `Print destination settings' form.

  8.

  Click OK to `print' (save) the report to the selected destination.

• Question 390:

  SIMULATION

  You are a functional consultant for Contoso Entertainment System USA (USMF).

  You plan to run several reports in USMF that list all the write-off transactions.

  You need to replace the write-off reason used by the system for USMF to use a reason of "Bad debts.

  To complete this task, sign in to the Dynamics 365 portal.

  Correct Answer: explanation

  You need to add a write-off reason for USMF and set it as the default.

  1.

  Go to Navigation pane > Modules > Credit and collections > Setup > Accounts receivable parameters.

  2.

  Click the Collections tab.

  3.

  Click the Edit icon in the Write-Off section.

  4.

  Add a new Write-Off reason if it doesn't exist.

  5.

  Tick the "Default" checkbox next to the new Write-Off reason.

  6.

  Click the Save button to save the changes.