Practice Free MB-310 Exam Online Questions
A client needs guidance on month-end closing procedures.
The client needs to be able to stop all teams except Accounts payable and General ledger from posting transactions for the month.
You need to configure Dynamics 365 Finance to allow only those two teams to transact during the period being closed.
Which three actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
- A . Create an access group called month end access for Accounts payable and General ledger team members.
- B . Set all modules to none to prevent any transactions from being posted.
- C . Configure the financial period close workspace tasks to the Accounts payable and General ledger teams only
- D . Move the period status to on hold for your client’s one legal entity.
- E . Assign the security group month end access on the ledger calendar form for the modules they need access to.
A company uses Microsoft Dynamics 365 Finance. You create revenue allocation schedules for items You need to link a revenue allocation schedule to an item.
Which two pages should you use? Each correct answer presents a complete solution NOTE: Each correct selection is worth one point.
- A . Item posting profile
- B . Charges group
- C . Released item
- D . item group
- E . Revenue allocation journal
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 (69 Configure an advanced rule for Expense account (6999) to require customer.
99) 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: one for liability accounts listing the (2000-2999) range with no following dimensions and one for Expense and Revenue accounts.
✑ For Expense accounts (6000-6998) and Revenue accounts (4000-4999), configure asterisks in all dimension columns.
✑ For Expense account (6999), configure asterisks in all dimensions. Co nfigure an asterisk and quotes in the customer dimension.
Does the solution meet the goal?
- A . Yes
- B . No
B
Explanation:
As asterisk in all dimension columns would mean that a value must be configured for all dimensions.
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/configure-account-structures
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.
ABE
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/indirect-taxes-overview
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.
ABE
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/indirect-taxes-overview
HOTSPOT
Your company uses Dynamics 365 Finance.
You must record an interest expense that occurs every month. It must be recorded the same way each month. Your manager wants each interest posting to use the number scheme "INT-XXXX", with XXXX representing a sequential number. You need to configure the system.
What should you create? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.
HOTSPOT
Your company uses Dynamics 365 Finance.
You must record an interest expense that occurs every month. It must be recorded the same way each month. Your manager wants each interest posting to use the number scheme "INT-XXXX", with XXXX representing a sequential number. You need to configure the system.
What should you create? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.
DRAG DROP
You need to configure ledger allocations to meet the requirements.
What should you configure? To answer, drag the appropriate setups to the correct requirements. Each setup 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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules
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 DownloadsReport folder.
To complete this task, sign in to the Dynamics 365 portal.
✑ Enter the ‘From’ date.
✑ Select the settlement period (Quarter).
✑ Click ‘OK’.
✑ Select Yes in the Create electronic tax document field.
✑ Select the DownloadsReport folder and file format.
✑ Click ‘OK’.
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 DownloadsReport folder.
To complete this task, sign in to the Dynamics 365 portal.
✑ Enter the ‘From’ date.
✑ Select the settlement period (Quarter).
✑ Click ‘OK’.
✑ Select Yes in the Create electronic tax document field.
✑ Select the DownloadsReport folder and file format.
✑ Click ‘OK’.