Microsoft MB-310 Exam Practice Test Instant Access

Question 1

A company has implemented Dynamics 365 Finance.

The company pays taxes quarterly to the states of Florida, Nebraska, and Washington. These states have been set up as tax authorities within Dynamics 365 Finance.

You need to configure the system to remit tax payments.

What should you do?

ASet up a customer record for the tax authority.

BAssociate the vendor record to the tax authority.

CAssociate the vendor record to The settlement period.

DSet up the jurisdiction and associate the jurisdiction to the tax authority

Answer : B

Question 2

Which configuration makes it possible for User4 to make a purchase?

ABudget model configuration is configured to allow certain purchases to exceed budget.

BBudget is posted at the dimension level. Budget control is managed at main account level.

CBudget funds available are configured to allow dimension budget overrides.

DBudget is posted at the main account level. Budget control is managed at the department level.

Answer : B

Question 3

You need to troubleshoot the reporting issue for User7.

Why are some transactions being excluded?

AUser7 is running the report in CompanyB.

BUser7 is running the report in CompanyA.

CThe report is correctly excluding CustomerY transactions.

DThe report is correctly excluding CustomerZ transactions.

Answer : C

Question 4

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

ADisposal

BAcquisition

CValue adjustments

DDepreciation

Answer : A

Question 5

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 Downloads\Report folder.

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

ASee explanation below

Answer : A

Navigate to Tax > Declarations > Report sales tax for settlement period.

Enter the 'From' date.

Select the settlement period (Quarter).

Click 'OK'.

Select Yes in the Create electronic tax document field.

Select the Downloads\Report folder and file format.

Click 'OK'.

Question 6

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,

AAssign values to the sales tax codes and assign the sales tax codes to the sales tax group associated to
the customer.

BAssign all sales tax codes to the item sales tax group associated to the item being sold.

CSet 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.

DAssociate the sales tax jurisdictions to the item sales tax group associated to the item being sold.

ESet 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.

Answer : A, B, E

https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/indirect-taxes-overview

Question 7

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.

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