MB-310 Online Practice Questions and Answers

You need to determine why CustomerX is unable to confirm another sales order.

What are two possible reasons? Each answer is a complete solution.

NOTE: Each correct selection is worth one point.

A. The credit limit parameter is set to Balance + All.

B. The credit limit is set to 0.

C. An inventory item is out of stock.

D. The inventory safety stock is set to 0.

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:

1.

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.

2.

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.

3.

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.

4.

Ensure that the historical transactions are transferred to the new fixed asset.

5.

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 asset

You are configuring the year-end setup in Dynamics 365 Finance.

You need to configure the year-end setup to meet the following requirements:

The accounting adjustments that are received in the first quarter must be able to be posted into the previous year's Period 13.

The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.

All dimensions from profit and loss must carry over into the retained earnings.

All future and previous periods must have an On Hold status.

Solution:

Configure General ledger parameters.

-Set the Delete close of year transactions option to Yes.

-

Set the Create closing transactions during transfer option to Yes.

-

Set the Fiscal year status to permanently closed option to Yes. Define the Year-end close template.

-

Designate a retained earnings main account for each legal entity.

-

Set the Financial dimensions will be used on the Opening transactions option to Yes.

-Set the Transfer profit and loss dimensions to Close All. Set all prior and future Ledger periods to a status of On Hold.

Does the solution meet the goal?

A. Yes

B. No

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:

1.

Expense accounts (6000-6998) require department, division, and project with all transactions. Customer dimension is optional.

2.

Revenue accounts (4000-4999) require department and division and allow project and customer dimensions.

3.

Liability accounts (2000-2999) should not have any dimensions posted.

4.

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:

1.

Configure two account structures: one for liability accounts listing the (2000-2999) range with no following dimensions and one for Expense and Revenue accounts.

2.

For Expense accounts (6000-6998) and Revenue accounts (4000-4999), configure asterisks in all dimension columns.

3.

For Expense account (6999), configure asterisks in all dimensions. Configure an asterisk and quotes in the customer dimension.

Does the solution meet the goal?

A. Yes

B. No

Your role of Systems Administrator includes the management of your company's Microsoft Dynamics 365 Finance system.

Invoice matching validation has been configured. Multiple matching policies have been applied at different matching policy levels.

When viewing the configuration, you discover that an item named Item1 supplied by a vendor named Vendor1 is affected by multiple matching policies applied at different levels.

You need to determine which matching policy will be applied.

Which of the following statements is true?

A. The matching policy applied at the Item level will apply.

B. The matching policy applied at the Vendor level will apply.

C. The matching policy applied at the Legal entity level will apply.

D. The matching policy applied at the Item and vendor level will apply.

You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system.

Budgets have been configured and approved for the upcoming fiscal period.

You need to configure budget control to allow only specific users to post transactions that exceed the budget.

Which of the following should you configure?

A. Budget groups

B. Main accounts

C. Over budget permissions

D. Budget allocations

E. Budget models

HOTSPOT

A rental service company with complex accrual requirements has accrual schemes set up in its implementation. They want to use defined accrual schemes to perform transactions.

You need to use an accrual scheme to create transactions for this company.

Which actions should you performTo answer, select the appropriate configuration in the answer area.

NOTE: Each correct selection is worth one point.

Hot Area:

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.

Hot Area:

HOTSPOT

You need to validate the sales tax postings for Tennessee and Alabama.

Which tax selections meet the requirement? To answer. select the appropriate options in the answer area NOTE: Each correct selection is worth one point.

Hot Area:

DRAG DROP

You need to select the functionality to meet the requirement.

Which features should you use? To answer, drag the appropriate features to the correct

requirements. Each feature may be used 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: