MB-310 Free Practice Questions — Page 8

Question 72

A company uses Microsoft Dynamics 365 Finance. You need to configure credit holds for sales orders. Which three options can you use to set up blocking rules? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

Question 73

DRAG DROP - A company uses Dynamics 365 Finance. The company adheres to United States Generally Accepted Accounting Principles (US GAAP). You need to create a lease liability amortization transaction for an operating lease. How should you complete the transaction? To answer, move the appropriate main accounts to the correct accounting transaction types. You may use each main account once, more than once, or not at all. You may need to move the split bar between panes or scroll to view content. NOTE: Each correct selection is worth one point.

Question 74

HOTSPOT - Case study - This is a case study. Case studies are not timed separately. You can use as much exam time as you would like to complete each case. However, there may be additional case studies and sections on this exam. You must manage your time to ensure that you are able to complete all questions included on this exam in the time provided. To answer the questions included in a case study, you will need to reference information that is provided in the case study. Case studies might contain exhibits and other resources that provide more information about the scenario that is described in the case study. Each question is independent of the other questions in this case study. At the end of this case study, a review screen will appear. This screen allows you to review your answers and to make changes before you move to the next section of the exam. After you begin a new section, you cannot return to this section. To start the case study - To display the first question in this case study, click the Next button. Use the buttons in the left pane to explore the content of the case study before you answer the questions. Clicking these buttons displays information such as business requirements, existing environment, and problem statements. If the case study has an All Information tab, note that the information displayed is identical to the information displayed on the subsequent tabs. When you are ready to answer a question, click the Question button to return to the question. Background - Adventure Works Cycles is a North American-based company that sells and fixes bicycles. The company is modernizing its business processes by implementing Dynamics 365 Finance. The company recently expanded its business into bicycle leasing. The leasing business is expanding into Canada due to high demand. Adventure Works Cycles has one legal entity, two cost centers, and three divisions within each cost center. The company also has a centralized budgeting process to the lowest level. The operating currency of the legal entity is the US dollar (USD). Adventure Works Cycles operates on a 4-5-4 calendar, which is used to make sure that the sales are evenly distributed across all months, including weekends. Current Environment - • Adventure Works Cycles tracks its international vendors in a separate payable account from its domestic vendors. • Only bicycle frame inventory is configured with a separate item model group that requires registration. • A thirteenth month is required for year-end transactions. • Only members from the accounts payable team are able to post transactions to a prior period after the period is closed to the company. • Fourth Coffee is a Canadian-based coffee chain whose operating currency is the Canadian dollar (CAD). Fourth Coffee entered into a lease agreement for 150 branded bicycles totaling CAD75,000. • Adventure Works Cycles frequently receives invoices in foreign currencies. Requirements - • Three-way matching is required only on competition bicycles priced over USD3,000 that are purchased from Fabrikam, Inc., in Europe. • Domestic customers and international customers must be managed in the following ways: o Domestic customer receivables must post to account 1200. o International customer receivables must post to account 1201. o Domestic customers must have a payment term of net 30. o International customers must have a payment term of net 15. o Domestic customer revenue must post to account 4000. o International customer revenue must post to account 4001. • Adventure Works Cycles must be able to use the cash flow forecasting capability in Finance. • The system must enable tracking and charging interest for customer accounts that are not current. • Automatic charges must be configured on vendor invoices for bicycle tires. The cost must be added to each item on the vendor invoice. • Adventure Works Cycles must be able to terminate leases for bicycles at any time. • Adventure Works Cycles must be able to closely track its budget by enforcing the budget at the cost center level. • The system must run Vendor aging reports by listing the transactions that are included in the reports' balance, unsettled payments, and aging period descriptions. Issues - • The accounts payable clerk processes an invoice for bicycle frames and a partial invoice for helmets. The clerk observes that the quantities on the vendor invoices are incorrect. The invoices require the correct line quantity selections so that the invoices process accurately. • The accounts payable clerk processes an invoice and observes that the product receipt quantity match for bicycle seat posts ordered from Fabrikam, Inc., is blank. However, the invoice passes validation. • The accounts payable manager observes that a sales order is posted to the prior period that is closed. • During foreign currency revaluation of the Accounts payable subledger, posting occurred only if the result was a loss. • On a vendor invoice for bicycle tires, the automatic charge is charged as an expense. • Due to a breach of contract, a member of the finance team needs to terminate a bicycle lease. However, the Termination proposal button is unavailable. • The accounts payable clerk is unable to review payments that have not been settled on the Vendor aging report. You need to recommend which default behavior the clerk should use to resolve the line quantity issue. Which invoicing default behavior should you recommend? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

Question 75

A company uses Dynamics 365 Finance. The company's supplier offers a special payment term which allows the company to pay 30% within 60 days of invoicing and the remaining 70% within 180 days of invoicing. You need to configure a payment schedule. Which payment schedule allocation method should you use?

Question 77

HOTSPOT - A company uses Dynamics 365 Finance. The company includes six departments that participate in the budget planning process. The finance department generates a previous year budget scenario. You must generate a new baseline scenario that is based on the previous year’s budget scenario. Department managers must be able to enter their budget requests in the baseline scenario. All department requests must be made available to the finance department so that they can determine the total budget funds requested and approve the budget scenario. You need to configure the allocation schedule. How should you configure the schedule for the baseline scenario? To answer, select the appropriate options in the dialog box in the answer area. NOTE: Each correct selectin is worth one point.

Question 78

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?

Question 79

A United States-based company uses Dynamics 365 Finance to collect and report sales tax. The company has a main account for each state where they collect and report sales tax. The system must transfer the tax liability for each state to their respective main account automatically every month when they run the settle and post sales tax process. You need to configure Dynamics 365 Finance. What should you do?

Question 80

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. You are managing credit and collections. You need to set up mandatory credit limits for all customer documents. Solution: Define a credit limit for each customer and select the Mandatory credit limit check box on the Customers form. Does the solution meet the goal?

Question 81

Which configuration makes it possible for User4 to make a purchase?

Question 82

You are configuring Dynamics 365 Finance. You need to implement advanced bank reconciliation. Which three actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.