Microsoft MB-310 Exam Practice Test Instant Access

Question 1

You need to set up financial reports to meet management requirements. What should you do? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

ASet up a report schedule to generate a report on a monthly basis for a reporting group.

BSet up a report schedule to generate an individual report on a monthly basis.

CSet up a reporting tree definition.

DCreate a report group.

Answer : A, C, D

Set up a Report Schedule (Option A & B):

To automate report generation on a monthly basis, navigate to General ledger > Inquiries and reports > Financial reports.

Choose the report to schedule and select Report schedules. Here, you can define whether the schedule applies to a reporting group or an individual report, depending on the organization's requirements.

Set up a Reporting Tree Definition (Option C):

Reporting trees allow you to structure financial reports based on organizational hierarchies. Go to General ledger > Inquiries and reports > Financial reports, then create or modify a reporting tree definition as needed.

Reporting tree definitions are particularly useful for presenting consolidated reports or segmented reports across different entities or departments.

Create a Report Group (Option D):

To create a report group, go to General ledger > Inquiries and reports > Financial reports, then select Report group and add the necessary financial reports.

This approach enables you to generate multiple reports simultaneously, which is useful for consistent monthly reporting to management.

Question 2

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?

Awhen financial dimensions need to default from the vendor record onto an invoice

Bwhen only certain dimensions are allowed to post with certain mam account combinations

Cwhen creating multiple balanced ledger entries based on transaction types or accounts

Dwhen the system needs to automatically post a transaction to the accounts receivable account on invoice posting

Answer : D

Question 3

You are setting up the Accounts payable module and vendor invoice policies for an organization.

You need to set up vendor invoice policies that run when vendor invoices are posted in the system.

In which two ways can you set up the policies? Each correct answer presents a complete solution.

NOTE: Each correct selection is worth one point.

ASet up invoice matching validation for vendor invoice policy.

BConfigure the vendor invoice workflow to run the policies.

CRun the policies when you post a vendor invoice by using the Vendor invoice page and when you open the

DApply the policies to invoices that were created in the invoice register or invoice journal.

Answer : B, C

https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/key-tasks-vendor-invoice-policies

Question 4

SIMULATION

You are a functional consultant for a legal entity named Contoso Group (GLCO).

You plan to sell new products that will increase in quality over time.

You need to implement a solution that uses the Last in, First out (LIFO) inventory model for GLCO.

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

ASee explanation below

Answer : A

You need to configure an Inventory Model Group for the new products.

For inventory model groups, navigate to Inventory management | Setup | Inventory | Item model groups.

Click ''New'' to create a new inventory model group.

In the ''Cost method and cost recognition'' section, configure the ''Inventory Model'' setting to Last in, First out (LIFO).

Click ''Save'' to save the inventory model group.

Question 5

You need to address the posting of sales orders to a closed period.

What should you do?

APermanently close the period for all modules.

BDivide the period.

CUse a ledger calendar to update period status.

DPermanently close the fiscal year.

EUse a ledger calendar to update module access.

Answer : E

Question 6

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.

You manage a Dynamics 365 finance implementation.

You must provide the budget versus actual reporting in near real time.

You need to configure the ledger budgets and forecasts workspace to tuck expenses over budget and revenue under budget.

Solution: Define a budget model. Set active forecasting process to the current year forecast.

Does the solution meet the goal?

AYes

BNo

Answer : B

Question 7

You need to correct the sales tax setup to resolve User5's issue.

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

NOTE: Each correct selection is worth one point.

APopulate the sales tax code on the sales order line.

BAssign the sales tax group to CustomerY.

CAssign the relevant sales tax code to both the sales tax and item sales tax groups.

DPopulate the item sales tax group field on the sales order line.

EPopulate the sales tax group field on the sales order line.

Answer : C, D, E

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

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