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Exam Overview
The Microsoft MB-310: Microsoft Dynamics 365 Finance exam is available in the English language and the candidates have to pay the fee of $165 to take it. Although Microsoft does not disclose its details, the students can expect between 40 and 60 questions covering a range of topics. The time allowed for the test is 120 minutes.
NEW QUESTION 108
You are asked to configure foreign currency revaluation in Dynamics 365 for Finance and Operations. You are viewing the main accounts,
Answer:
Explanation:
NEW QUESTION 109
An organization is setting up cost accounting.
You need to set up fiscal calendars for Dynamics 365 for Finance and Operations.
What are three uses for fiscal calendars? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. standard work hours
- B. shift work hours
- C. financial transactions
- D. budget cycles
- E. fixed asset depreciation
Answer: C,D,E
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/fiscal-calendars-fiscal-years-periods
NEW QUESTION 110
You are implementing a Dynamics 365 for Finance and Operations General ledger module for a client that has multiple legal entities.
The client has the following requirements:
* Post journal entries for all companies from one legal entity.
* Configure automatic creation of due to/due from transactions based on when LegalEntityA transacts with LegalEntityB.
* Automatically split the dollar amount in half between DimensionA and DimensionB when the journal is posted.
* Set up fixed or variable allocations, and then review the allocations in a journal before posting,
* Automatically post year-end results to account 30016 during year-end close.
You need to configure the system.
Which system capability should you configure? To answer, select the appropriate configuration in the answer area.
Answer:
Explanation:
NEW QUESTION 111
A client has multiple legal entities set up in Dynamics 365 for Finance and Operations. All companies and data reside in Finance and Operations,
The client currently uses a separate reporting tool to perform their financial consolidation and eliminations, They want to use Finance and Operations instead.
You need to configure the system and correctly perform eliminations.
Solution: Create a separate company in which you manually create the eliminations. Then, use that company in Financial reporting or in the consolidation process.
Does the solution meet the goal?
- A. Yes
- B. No
Answer: A
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview
NEW QUESTION 112
A company needs to create budget plan templates for its budgeting process.
You need to create the budget plan templates.
In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.
Answer:
Explanation:
NEW QUESTION 113
You are asked to configure a main account in Dynamics 365 Finance.
Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION 114
You are the controller for an organization. The company purchased six service trucks. You observe that youraccountant set up Fixed assets - vehicles in the wrong fixed asset group.
You need to achieve the following:
*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.
*Ensure that all value models 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.
*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.
*Ensure that the historical transactions are transferred to the new fixed asset.
*Ensure Historical Depreciation expense entries do not change.
What should you do?
- A. Copy the fixed asset
- B. Transfer the fixed asset
- C. Change the fixed asset group and keep the same fixed asset number
- D. Reclassify the fixed asset
Answer: D
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/fixed-assets/tasks/reclassify-fixed-assets
NEW QUESTION 115
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.
A customer uses Dynamics 365 Finance. The customer creates a purchase order for purchase $20,000 of office furniture.
You need to configure the system to ensure that the funds are reserved when the purchase order is confirmed.
Solution: Configure a posting definition for purchase orders.
Does the solution meet the goal?
- A. Yes
- B. No
Answer: A
Explanation:
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/example-posting-definitions
NEW QUESTION 116
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 are configuring the year-end setup in Dynamics 365 for Finance and Operations.
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 in to 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 No.
- Set the Create closing transactions during transfer option to No.
- Set the Fiscal year status to permanently closed option to No.
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 No.
- Set the Transfer profit and loss dimensions' option to Close All.
Set future Ledger periods to a status of On Hold.
Does the solution meet the goal?
- A. No
- B. Yes
Answer: A
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
NEW QUESTION 117
You are a controller for a public sector organization. You need detailed fiscal tracking and reporting.
You need to set up fund types categorized under specific fund classes.
Which fund type can you set up for each fund class? To answer, drag the appropriate fund types to the correct fund classes. Each fund type may be used once, more than once, or not at all. You may need to dreg the split bar between panes or scroll to view content.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
NEW QUESTION 118
Users are posting project transactions and bank transactions incorrectly in the General journal. The client wants to prevent this from happening in the future.
You need to configure Dynamics 365 Finance to limit the account type transactions to only ledger.
What should you do?
- A. Create a journal template that has ledger as the account type and offset account type.
- B. Use journal control to specify which account types are valid for the General ledger journal.
- C. Use advanced ledger entries to define the account types that can be used in the General ledger journal.
- D. Configure the voucher series associated with this journal to allow only ledger account types.
Answer: C
NEW QUESTION 119
You are setting up the yearly budget for an organization for the year 2019.
You need to set up the budget register entries.
Which two fields must be set up when creating register entries? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. Budget manager
- B. Budget code
- C. Budget model
- D. Budget cycle
Answer: B,C
Explanation:
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/basic-budgeting-overview-configuration
NEW QUESTION 120
You need to configure the system to resolve User8's issue.
What should you select?
- A. the Conditional sales tax checkbox
- B. a main account in the sales tax payable field
- C. a main account in the settlement account field
- D. the Standard sales tax checkbox
Answer: C
NEW QUESTION 121
A company plans to use Dynamics 365 Finance.
You need to configure basic budgeting.
Which set of actions must you perform?
* A. Define a budget journal
* Define budgeting parameters and number sequences
* Create budget models
* Define budget codes
* Create budgeting workflows
* B. Define a budget journal
* Define budgeting parameters and number sequences
* Define budgeting dimensions
* Create budget models and codes
* C. Define budget exchange rate types
* Define budgeting parameters and number sequences
* Define budgeting dimensions
* Create budget models
* Define budget codes
* D. Define budget exchange rate types
* Define budgeting parameters and number sequences
* Define financial dimensions
* Create budget models
* Define budget codes
Answer:
Explanation:
B
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/basic-budgeting- overview-configuration
NEW QUESTION 122
You Create a financial dimension set named MA + DEPT+PROJ as shown in the following screenshot. The financial dimension set include the following dimensions:
* Main Account
* Department
* Project
Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic. NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
NEW QUESTION 123
You are a finance consultant. Your client needs you to configure cash flow forecasting.
The client wants specific percentages of main accounts to contribute to different cash flow forecasts for other main accounts.
You need to configure Dynamics 365 for Finance to meet the needs of the client.
What should you do?
- A. Configure the cash flow forecasting setup for Accounts Payable before you configure vendor posting profiles.
- B. On the Cash flow forecasting setup form, use the Dependent Accounts setup to specify which account and percentage is associated to the main account.
- C. Configure the parent/child relationship for the main account and subaccounts by using appropriate percentages.
- D. On the Cash flow forecasting setup form, configure the primary main account to assign a percentage to the dependent account.
Answer: B
Explanation:
D18912E1457D5D1DDCBD40AB3BF70D5D
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cash-bank-management/cash-flow-forecasting
NEW QUESTION 124
You need to configure an Accounts payable charge for freight for a company. The company requires that the system include the freight invoice to be paid to the vendor and record the expense in main account 600120 - Freight In.
Answer:
Explanation:
Explanation
NEW QUESTION 125
You are configuring a Dynamics 365 Finance environment for intercompany accounting. You create the following legal entities:
CompanyA
CompanyB
You need to configure intercompany accounting for both legal entities.
Which three actions should you perform in sequence? To answer, move the appropriate actions from the list of actions to the answer area and arrange them in the correct order.
NOTE: More than one order of answer choices is correct. You will receive credit for any of the correct orders you select.
Answer:
Explanation:
1 - In each legal entity, configure an intercompany main account for Due to/Due from by using the Balance sheet account type.
2 - In each legal entity,configure a journal name and set the journal type to Daily.
3 - Determine which legal entity will receive the accounting for supporting amounts.
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/intercompany-accounting-setup
NEW QUESTION 126
You need to prevent a reoccurrence of User2's issue.
How should you configure the system? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Topic 2, Munson's Pickles and Preserves Farm
Case Study
This is a case study. Case studies are not timed separately. You can use as much exam time as you would like to complete each case. However, there may be additional case studies and sections on this exam. You must manage your time to ensure that you are able to complete all questions included on this exam in the time provided.
To answer the questions included in a case study, you will need to reference information that is provided in the case study. Case studies might contain exhibits and other resources that provide more information about the scenario that is described in the case study. Each question is independent of the other questions in this case study.
At the end of this case study, a review screen will appear. This screen allows you to review your answers and to make changes before you move to the next section of the exam. After you begin a new section, you cannot return to this section.
To start the case study
To display the first question in this case study, click the Next button. Use the buttons in the left pane to explore the content of the case study before you answer the questions. Clicking these buttons displays information such as business requirements, existing environment, and problem statements. If the case study has an All Information tab, note that the information displayed is identical to the information displayed on the subsequent tabs. When you are ready to answer a question, click the Question button to return to the question.
Background
Munson's Pickles and Preserves Farm grows and distributes produce, jellies, and jams. The company's corporate headquarters is located in Dallas, TX. Munson's has one operations center and seven regional distribution centers in the United States.
The company has two wholly owned subsidiaries that operate in Canada. The Canadian entity owns an entity in France.
Munson's plans to expand into Latin America by purchasing the last 25 percent of a subsidiary that they own in Costa Rica. This process is expected to complete within the next two years.
The company plans to implement Dynamics 365 Finance and Dynamics 365 Supply Chain to meet their growing business needs.
Current environment. General
Munson's uses a mix of internally-developed legacy systems that handle their finance and distribution activities. The company has an isolated CRM system.
Both Canadian subsidiaries have two departments: marketing and operations.
Financial reporting is difficult due to data residing in disparate systems.
Financial reporting is currently performed by using Microsoft Excel.
Pre-orders in the current system are difficult to track because the order management system is not integrated with the finance system.
Pickle sales post to one revenue account, but this does not allow for targeted reporting by pickle cut and type.
Current environment. Organization
The following chart shows Accounting/Reporting Currencies and Tax ID, if applicable.
Typically, vendor invoices are received prior to receipt of product.
The following fixed assets are sold for a loss:
BUILD-100
CAR-1233
At the regional distribution centers, the value for physical inventory does not match the inventory in the financial system.
Munson's rents their corporate office. Rent is not paid by purchase order. Rent is due once a quarter.
Allocations are performed manually.
Barrels are inventoried by site and warehouse.
Munson's has multiple depreciation and tax books for all of their fixed asset equipment.
Budgets are posted at the department level for each legal entity.
Requirements. Sales
Customers should be able to pre-order for fall release of pickles.
Three-way matching must be enforced for all purchases.
Fixed asset sale transactions require a ledger account entered at the time of transaction.
Fixed assets purchased must be automatically created in fixed asset module. This includes inventory items and write in purchase orders/non-inventoried items.
One dollar from every sale needs must be tracked and donated at the end of each month to a charitable organization.
Purchasing budgets must be enforced at the main account level.
Requirements. Finance
Accounts payable must be able to enter vendor invoices on the day they were received to be settled against when product is received.
Accounts payable must be able to enter vendor invoices to accrue expense without specifying a purchase order at the time of entry.
Postage expenses must be split evenly across the regional distribution centers automatically.
Administrative expenses must be distributed across the regional distribution centers by percentage of fulfillment orders monthly.
Pickling machines depreciation must be uniquely recorded for visibility but not post to the ledger.
Issues
During implementation testing, User1 indicates that after packing slips are generated for purchase orders, there are no ledger postings.
User2 indicates that fixed assets purchased on a purchase order do not show up in the Fixed Assets module.
User3 reports that they are seeing inconsistent application of the one-dollar donation from all sales orders.
User4 in the Canadian subsidiary is able to purchase supplies for marketing despite exceeding the marketing department budget.
User5 reports that when purchasing a non-inventoried computer, the system is automatically assigning it to the buildings fixed asset group.
NEW QUESTION 127
You are asked to configure foreign currency revaluation in Dynamics 365 for Finance and Operations. You are viewing the main accounts,
Answer:
Explanation:
Explanation
NEW QUESTION 128
You are configuring budgeting components in Dynamics 365 for Finance and Operations.
You need to configure multiple budgets.
What are three budgeting options you can use? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. Cost management budget, including Production and Resource groups
- B. Project budget, including Items and Fees
- C. Sales budget, including Campaigns and Events
- D. Ledger budget, including Revenue and Expense types
- E. Workforce budget, including Compensation groups and Positions
Answer: B,D,E
Explanation:
Section: Manage budgeting and fixed assets
NEW QUESTION 129
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.
A client has multiple legal entities set up in Dynamics 365 for Finance and Operations. All companies and data reside in Finance and Operations.
The client currently uses a separate reporting tool to perform their financial consolidation and eliminations.
They want to use Finance and Operations instead.
You need to configure the system and correctly perform eliminations.
Solution: Select Consolidate online in Finance and Operations. Include eliminations during the process or as a proposal. Set up the transactions to post in the legal entity configured for consolidations.
Does the solution meet the goal?
- A. No
- B. Yes
Answer: A
Explanation:
Section: Manage and apply common processes
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation- elimination-overview
NEW QUESTION 130
......
Implementing & Managing Accounts Payables and Expenses (10-15%):
- Manage and implement account payables: this domain requires competence in configuring validation policies for the invoice; setting up posting profiles for vendors; processing orders, payments, and invoices; configuring Vendor Collaborations modules; configuring account payable charges; configuring vendor payments, such as payment calendars and positive pay;
- Configure & utilize expense management: this topic covers the skills in configuring workflow for expense management; configuring expense management, such as per diem options, personal expenses, categories, and mileage expenses; explaining the use cases for expense management policies as well as an Audit workbench; explaining and configuring credit card processing; managing expense reports.
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