Microsoft MB-310 Exam Practice Test Instant Access

Question 1

An organization uses Dynamics 365 for Finance and Operations.

Several posted journal entries contain invalid main account and dimension combinations. This leads to incorrect financial reporting.

You need to prevent these invalid combinations.

What should you do?

AAssociate the correct main accounts to that financial dimension on the financial dimension setup form.

BConfigure financial dimension sets to limit which financial dimensions are valid for which main accounts.

CTrain users to select the Validate button in the current journal configuration so that the correct account and dimension combination is used.

DConfigure the account structure to specify which financial dimensions are valid for which main accounts.

Answer : D

https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/configure-account-structures

Question 2

You need to ensure that User9's purchase is appropriately recorded.

Which three steps should you perform? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

ASelect a fixed asset group at the line level.

BSet the new fixed asset toggle to yes at the line level.

CEnter three purchase order lines, enter quantity of 1.

DEnter one purchase order line, enter quantity of 3.

ESelect a financial dimension at the line level.

Answer : A, B, C

Question 3

A company is preparing to complete a year-end close process.

You need to configure the Dynamics 365 for Finance and Operations General ledger module. Which three configurations must you use? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

AConfigure the Fiscal year close parameters

BConfigure the ledger calendar for the new fiscal year

CConfigure the transfer balance

DValidate the main account type

ECreate the next fiscal year

Answer : A, D, E

https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close

Question 4

SIMULATION

You are a functional consultant for Contoso Entertainment System USA (USMF).

You need to apply a constant currency exchange rate to calculate the reporting currency value of fixed assets.

To complete this task, sign in to the Dynamics 365 portal.

ASee explanation below

Answer : A

The currency Translation Type needs to be set to Current. This option uses the last rate on or before the period specified in the report regardless of what the exchange rate was at the time of purchase for each asset.

Navigate toGeneral Ledger > Chart of Accounts > Accounts > Main Accounts.

Select the Financial Reporting account.

In the Reporting currency exchange rate type, select Current from the drop-down list.

Click Save to save the changes.

Question 5

A client is using the budget planning process in Dynamics 365 for Finance and Operations. 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?

AConfigure budget control.

BConfigure budget codes.

CConfigure budget allocation terms.

DConfigure budget cycles.

Answer : B

Question 6

You are a Dynamics 365 Finance expert for an organization.

You need to configure the Financial period close workspace.

Which three configuration processes should you use? Each correct answer presents a part of the solution.

NOTE: Each correct selection is worth one point,

ACreate templates that contain the required tasks within the closing process and assign to closing role.

BCreate a separate closing schedule for every legal entity.

CAssign a ledger calendar to the closing process.

DCreate task areas and descriptions.

EDesignate resources and their scope based on closing roles.

Answer : A, D, E

https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-period-close-workspace

Question 7

SIMULATION

You are a functional consultant for Contoso Entertainment System USA (USMF).

USMF recently opened a new bank account in the Brazilian currency.

You need to create a new bank account in the system for the new bank account.

To complete this task, sign in to the Dynamics 365 portal.

ASe eexplanation below

Answer : A

1. Create a new bank account atCash and bank management > Bank accounts > Bank accounts.

2. Complete all required fields. The following list includes some fields that might be required.

Bank account(code)

Bank account number

Main account- This is the general ledger account that is used for posting.

Currency

SWIFT code

3. Enter Brazil-specific information:

SelectBankin theBank groupsfield. Confirm that theBICandCorr. Bank accountfields are correct. Also, confirmAddressandContact informationon respective FastTabs and update accordingly.

Define the number series for payment order generation in theP/O numerationfield.

For bank accounts in foreign currency, you can also define .docx templates for generation of payment orders in paper format in the following fields:Payment order in currency,Order template (currency sale), andOrder template (currency purchase).

https://docs.microsoft.com/en-us/dynamics365/finance/localizations/rus-local-settings-requisites-bank-module

Microsoft MB-310 Microsoft Dynamics 365 Finance Functional Consultant Exam Practice Test