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MB-310 Practice Exam — Free 397+ Questions

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Question 1

Implement and manage accounts payable and expenses

Question 2

Manage fixed assets

Question 3

Manage fixed assets

Question 4

Manage fixed assets

Question 5

Implement accounts receivable, credit, collections, and subscription billing

Question 6

Implement financial management

Question 7

Implement financial management

Question 8

Implement accounts receivable, credit, collections, and subscription billing

Question 9

Manage budgeting

Question 10

Manage budgeting

Question 11

Manage fixed assets

Question 12

Implement accounts receivable, credit, collections, and subscription billing

Question 13

Manage fixed assets

Question 14

Implement financial management

Question 15

Implement financial management

Question 16

Implement and manage accounts payable and expenses

Question 17

Implement financial management

Question 18

Manage budgeting

Question 19

Manage budgeting

Question 21

Manage budgeting

Question 22

Implement accounts receivable, credit, collections, and subscription billing

Question 23

Implement and manage accounts payable and expenses

Question 24

Implement and manage accounts payable and expenses

Question 25

Implement and manage accounts payable and expenses

Question 26

Implement financial management

Page 1 of 16 • Questions 1-25 of 397

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HOTSPOT -
You need to configure the expense module for reimbursement.
How should you configure the expense module? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Hot Area:

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DRAG DROP

A company that manufactures consumer electronics goods uses Microsoft Dynamics 365 Finance.

You need to configure capitalization thresholds for products based on the following requirements:

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In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.

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A company uses Microsoft Dynamics 365 Finance and Dynamics 365 Project Operations.

The company must associate fixed assets with subprojects to track the money that the company spends to maintain assets.

You need to configure subprojects to track the associated fixed asset transactions.

Which two types of subprojects can you use? Each correct answer presents a complete solution.

NOTE: Each correct selection is worth one point.

A Cost
B Investment
C Fixed price
D Time and material
E Internal

HOTSPOT

A company is implementing Microsoft Dynamics 365 Finance.

The company is implementing the Fixed asset module and requires the following configuration:

• Set the threshold for fixed asset acquisitions at $10,000.
• Fixed asset acquisitions must be allowed from purchasing.

You need to configure the system.

Which parameter should you use? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

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A legal entity has locations and customers in multiple states within the United States.
You need to ensure that taxable customers are charged sales tax for taxable items in their delivery location.
Which three settings must you configure? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

A the Sales tax group on the Customer record
B the Terms of delivery setup
C the Item Sales tax group on the Item record
D the Sales reporting codes
E the Sales tax codes

A client has unique accounting needs that sometimes require posting definitions.
You need to implement posting definitions.
In which situation should you implement posting definitions?

A when financial dimensions need to default from the vendor record onto an invoice
B when only certain dimensions are allowed to post with certain main account combinations
C when creating multiple balanced ledger entries based on transaction types or accounts
D when the system needs to automatically post a transaction to the accounts receivable account on invoice posting

Users are posting project transactions and bank transactions incorrectly in the General journal. The client wants to prevent this from happening in the future.
You need to configure Dynamics 365 Finance to limit the account type transactions to only ledger.
What should you do?

A Use journal control to specify which account types are valid for the General ledger journal.
B Use advanced ledger entries to define the account types that can be used in the General ledger journal.
C Configure the voucher series associated with this journal to allow only ledger account types.
D Create a journal template that has ledger as the account type and offset account type.

HOTSPOT -
A company has delinquent customers.
You need to configure Dynamics 365 Finance to meet the following requirements:
✑ Send communication to the customers detailing their past-due invoices.
✑ Use the system to automatically calculate a late charges.
✑ Create a group of customers for a collection agent to monitor.
✑ View a list of customers with colored indicators of a customer's payment status.
You need to associate the correct system functionality to manage delinquent customers based on these business requirements.
Which functionality should you use? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Hot Area:

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A client is using the budget planning process in Dynamics 365 Finance.
Your client requires the ability to plan for a one-year, three-year, and five year-budget.
You need to configure the various year length options to be used in the budgeting module.
What should you do?

A Configure budget control
B Configure budget codes
C Configure budget cycles
D Configure budget allocation terms

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 is preparing to complete yearly budgets.
The company plans to use the Budget module in Dynamics 365 Finance for budget management.
You need to create the new budgets.
Solution: Create budget plans for multiple scenarios.
Does the solution meet the goal?

A Yes
B No

An organization acquires a building.
You need to register and record the building as an asset building in Dynamics 365 Finance.
What are three possible ways to achieve the goal? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.

A Select an account type of Fixed Asset and a transaction type of Acquisition with a General Journal
B Eliminate the project to a fixed asset
C Create a sales invoice to record and register the fixed asset
D Select an acquisition transaction type within a fixed asset journal
E Use the sales order process to acquire the asset

You are the accounts receivable manager of an organization. The organization recently sold machinery to a customer.
You need to register a transaction for the sale of the machinery by using a free text invoice for fixed assets.
Which transaction type should you use?

A Acquisition
B Value adjustments
C Depreciation
D Disposal

You are the controller for an organization. The company purchased six service trucks. You observe that your accountant set up Fixed assets `" vehicles in the wrong fixed asset group.
You need to achieve the following:
✑ Change the fixed asset group so that the existing fixed asset transactions for the original fixed asset are canceled and regenerated for the new fixed asset.
✑ Ensure that all books for the existing fixed asset are created for the new fixed asset. Any information that was set up for the original fixed asset is copied to the new fixed asset.
✑ Close the old fixed asset number in the old fixed assets group and create a new fixed asset number in the new fixed assets group.
✑ Ensure that the historical transactions are transferred to the new fixed asset.
✑ Ensure Historical Depreciation expense entries do not change.
What should you do?

A Reclassify the fixed asset
B Change the fixed asset group and keep the same fixed asset number
C Copy the fixed asset
D Transfer the fixed assets

You are configuring automatic bank reconciliation functionality for a company that has multiple bank accounts. The company wants to import their bank statements.
You need to import electronic bank statements to reconcile the bank accounts.
Which three actions can you perform? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.

A Select all the bank accounts for the bank statement files, and then upload all files
B Select Account reconciliation on the bank account form
C Import bank statements from the Data management workspace
D Navigate to Import statement on the Bank Statements page of Cash and Bank Management
E Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file

A company plans to create a new allocation rule for electric utilities expenses.
The allocation rule must meet the following requirements:
✑ Distribute overhead utility expense to each department.
✑ Define how and in what proportion the source amounts must be distributed on various destination lines.
You need to configure the allocation rule.
Which allocation method should you use?

A Distribute the source document amount equally
B Fixed weight
C Equally
D Basis

You are configuring the Accounts payable module for a company.
The company needs to set a limit on the charges they will pay for specific items.
You need to set up the limit for charges.
Which two actions should you perform? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

A Enable invoice matching validation in the Accounts payable parameters
B Enter the maximum amount when you set up the charges code
C Use budget control with the specified charges code
D Set the maximum charge amount in the Accounts payable parameters
E Define the maximum charge amount on the vendor record

You are configuring Dynamics 365 Finance.
You need to implement posting definitions for all available transaction types.
For which type of transactions can you implement posting definitions?

A Accounts payable, Accounts receivable, Bank, Budget, Payroll, and Purchasing
B Accounts payable, Bank, Budget, Fixed assets, and Payroll
C Accounts payable, Accounts receivable, Fixed assets, Payroll, and Purchasing
D Accounts payable, Accounts receivable, Budget, and Fixed assets

You are configuring budgeting components in Dynamics 365 Finance.
You need to configure multiple budgets.
What are three budgeting options you can use? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.

A Cost management budget, including Production and Resource groups
B Sales budget, including Campaigns and Events
C Workforce budget, including Compensation groups and Positions
D Project budget, including Items and Fees
E Ledger budget, including Revenue and Expense types

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 is preparing to complete yearly budgets.
The company plans to use the Budget module in Dynamics 365 Finance for budget management.
You need to create the new budgets.
Solution: Create budget plans to define the revenues for a budget.
Does the solution meet the goal?

A Yes
B No

A public sector company is configuring encumbrance for managing capital budgets.
The finance department needs to configure posting definitions for bank transactions.
You need to configure Dynamics 365 Finance for cash settlements.
What should you do?

A Configure combined deposit amounts
B Configure budget appropriations
C Configure general ledger year-end close
D Configure advanced ledger entries

A company plans to use Dynamics 365 Finance to calculate sales tax on sales orders.
You need to automatically calculate sales tax when the sales order is created.
Which three actions should you perform? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

A Assign values to the sales tax codes and assign the sales tax codes to the sales tax group associated to the customer.
B Assign all sales tax codes to the item sales tax group associated to the item being sold.
C Set up a default item sales tax group on the item being sold and set up a default sales tax group on the customer used on the sales order.
D Associate the sales tax jurisdictions to the item sales tax group associated to the item being sold.
E Set up a default sales tax code on the customer used on the sales order and set up a default item sales tax group on the item being sold.

A company provides employee life insurance to all full-time employees. Employee life insurance policies are paid twice a year to the insurance company.
Transactions for current employees must be recognized in the general ledger twice a month with an employee's pay. Transactions for new employees must be recognized in the general ledger based upon the employee's first pay date.
You need to configure accrual schemes for the new fiscal year.
Which two configurations should you use? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

A For new employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
B For current employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
C For new employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
D For current employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.

HOTSPOT -
You plan to implement Dynamics 365 Finance.
You need to configure the system to meet the following requirements:
✑ Post vendor invoices in a journal.
✑ Create payments to vendors.
✑ Post headcount transactions.
✑ Process intercompany transactions.
Which journal types should you use? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Hot Area:

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HOTSPOT -
You need to configure an Accounts payable charge for freight for a company. The company requires that the system include the freight amount in the invoice to be paid to the vendor and record the expense in main account 600120 `" Freight In.

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Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic.
NOTE: Each correct selection is worth one point.
Hot Area:

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DRAG DROP -
You are controller for a public sector organization. You need detailed fiscal tracking and reporting.
You need to set up fund types categorized under specific fund classes.
Which fund type can you set up for each fund class? To answer, drag the appropriate fund types to the correct fund classes. Each fund type may be used once, more than once, or not at all. You may need to drag the split bar between panes or scroll to view content.
NOTE: Each correct selection is worth one point.
Select and Place:

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