MB-310 Free Practice Questions — Page 8

Question 68

A company implements basic budgeting functionality in Dynamics 365 Finance. The company wants to allocate budget register entries for payroll expense amounts to each department based on a predetermined percentage. You need to configure the allocation. Which functionality should you use?

Question 70

A company uses Microsoft Dynamics 365 Finance. The system displays the following error when you try to acquire a fixed asset: Account for the transaction type, value model, does not exist for fixed asset ASSET-001. You need to resolve the error. What should you do?

Question 71

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?

Question 72

A company implements Dynamics 365 Finance. The company uses a third party to provide support services. You need to configure a payment method to allow the company to reimburse any expenses reported by the third-party service provider. Which two methods should you use? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

Question 73

Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution. Determine whether the solution meets 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 customer uses Dynamics 365 Finance. The controller notices incorrect postings to the ledger entered via journal. The system must enforce the following: ✑ Expense accounts (6000-6998) require department, division, and project with all transactions. Customer dimension is optional. ✑ Revenue accounts (4000-4999) require department and division and allow project and customer dimensions. ✑ Liability accounts (2000-2999) should not have any dimensions posted. ✑ Expense account (6999) requires department, division, project and customer dimensions with all transactions. You need to configure the account structure to meet the requirements. Solution: ✑ Configure two account structures. ✑ For Expense Accounts (6000-6998), configure asterisks in department division, and project. Configure an asterisk and quotations in customer dimension. ✑ For Revenue accounts (4000-4999), configure asterisks in department and division. Configure an asterisk and quotations in project and customer dimensions. ✑ For Expense account (6999), configure asterisks in department division, project, and customer dimensions. ✑ Liability accounts (2000-2999) are in the second account structure with no following dimensions. Does the solution meet the goal?

Question 74

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 resolve the issue related to the vendor invoice for bicycle tires. Which two selections should you make to configure the charge? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

Question 75

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 76

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 77

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 78

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?