Try Free 2020 Updated Microsoft MB-310 Practice Test Questions

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Now you can study the latest updated MB-310 practice test questions for your Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate Certification. FreetestShare 100% real MB-310 dumps contain real exam questions and answers to help you pass MB-310 exam on the first try. You will be able to assess your preparation for the MB-310 exam by the following free practice exam.

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1. 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?

Configure budget control.

Configure budget codes.

Configure budget allocation terms.

Configure budget cycles.

2. 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 company is preparing to complete yearly budgets.

The company plans to use-pie Budget module in Dynamics 365 for Finance and Operations for budget management

You need to create the new budgets.

Solution: Create budget plans to define the revenues for a budget

Does the solution meet the goal?

Yes

3. HOTSPOT

A client needs to configure Accounts payment vendor methods of payment to meet the following business requirements:

✑ Configure the electronic method of payment to create one electronic payment for all of the invoices due.

✑ Configure the system to ensure that all payments made with an electronic method of payment also forces the user to select which payment has been used.

You display the Methods of payment setup screen.

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.

4. You work for a company that receives invoices in foreign currencies.

You need to configure the currency exchange rate providers and exchange rate types.

What should you do?

Use a developer to write the HTML key values code to configure the currency exchange rate providers. Then, use the provider for importing a currency exchange rate type.

Configure exchange rate provider, create exchange rate type, and import the currency exchange rates.

Select the appropriate HTML key values from the available exchange rate providers. Then, use the provider for importing one currency exchange rate type.

Use a developer to write the XML key values code to configure the currency exchange rate providers. Then, use the provider for importing a currency exchange rate type.

5. 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 one legal entity, two departments, and two divisions. The client is implementing Dynamics 365 Finance. The departments and divisions are set up as financial dimensions.

The client has the following requirements:

✑ Only expense accounts require dimensions posted with the transactions.

✑ Users must not have the option to select dimensions for a balance sheet account.

You need to configure the ledger to show applicable financial dimensions based on the main account selected in journal entry.

Solution: Configure two account structures: one for expense accounts and include applicable dimensions, and one for balance sheet and exclude financial dimensions.

Does the solution meet the goal?

Yes

6. A client warns general journals to be used only to post ledger-type Transactions.

You need to set up Journal configuration to achieve the requirement.

Solution: Set up the journal control to specify the account structure and ledger segment.

Does: The solution meet the goal?

Yes

7. You are implementing Dynamics 365 Finance.

Subledger entries must transfer automatically to the general lender.

You need to configure a hatch transfer rule.

Which two options should you select? Each correct answer presents a complete solution . NOTE: Each correct selection is worth one point

Scheduled batch

Scheduler job

Batch jobs

Asynchronous

8. HOTSPOT

A company sells goods to a customer. You enter an invoice for the customer on June 25. The invoice is eligible for a cash discount of two percent if it is paid in five days and a discount of one percent if it is paid in 14 days.

You need to create a payment journal when the invoices are settled on specific dates.

Which setup options should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

9. HOTSPOT

You need to configure settings to resolve User1’s issue.

Which settings should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

10. A legal entity has locations and customers in multiple states within the United States.

You need to ensure that taxable customers are charged sales tax for taxable items in their delivery location.

Which three settings must you configure? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

the Sales tax group on the Customer record

the Terms of delivery setup

the Item Sales tax group on the Item record

the Sales reporting codes

the Sales tax codes

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11. CORRECT TEXT

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.

12. DRAG DROP

You are creating a budget for an organization.

The organization requires that allocations be performed automatically as part of budget planning.

You need to invoke allocations at a specific budget planning stage.

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.

13. A client has one legal entity and the following four dimensions configured: Business Unit, Cost Center, Department, and Division.

You need to configure the client's system to run the trial balance inquiry in the General ledger module so that it displays the trial balance two ways:

• Include the main account and all four dimensions.

• Include the main account and only the business unit and cost center dimensions .

What should you configure?

two account structures

all financial dimensions by using the group dimension functionality

two financial dimension sets

two derived financial dimension hierarchies

14. 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 Yes .

- Set the Create closing transactions during transfer option to Yes .

- 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?

Yes

15. 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,

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

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

Set 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.

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

Set 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.

16. You need to identify the root cause for the error that User5 is experiencing.

What should you check?

Fixed asset rules

Fixed asset determination rules

Fixed asset posting profiles

Fixed asset books

Fixed asset depreciation profiles

17. HOTSPOT

You manage fixed assets in Dynamics 365 Finance.

You have the following requirements:

✑ Purchase a fixed asset on a purchase order by using a procurement category.

✑ Purchase a fixed asset on a purchase order by using an item number.

✑ Post specific tax transactions for fixed assets by using a journal.

You need to associate process in the system with the corresponding business requirement.

Which actions should you perform? To answer, select the appropriate configuration in the answer area. NOTE: Each correct selection is worth one point.

18. HOTSPOT

A client is using Dynamics 365 Finance for sales order processing and accounts receivable. The client has two customer groups and two Accounts receivable trade accounts. Foreign customers in Group 80 are assigned to account 12001. Domestic customers in Group 40 are assigned to account 12000.

You are viewing the client's current setup of Customer posting profiles.

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.

19. 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 with import.

Does the solution meet the goal?

Yes

20. A customer uses Dynamics 365 Finance to manage budgets.

You review a customer’s budget funds available calculation and discover that the budget amounts posted two weeks ago are not reflected in the budget control check on a purchase

order.

You verify that budget control is set to active.

You need to determine why the budget posted two weeks ago is not reflecting correctly.

What should you do?

Verify that available budget funds are configured appropriately.

Post a budget transfer to add the correct funds.

Verify whether budget plans are still in draft status.

Compare the budget control active date to the date of the posted register entries to verify that it was active at the time of posting.

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21. DRAG DROP

A client wants to use Dynamics 365 Finance invoice validation functionality.

You need to recommend the invoice validation functionality that meets their requirements.

Which functionality should you recommend for each requirement? To answer, drag the appropriate functionality to the correct requirement. Each functionality may be used once, more than 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.

22. 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.

23. DRAG DROP

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.

24. You are configuring intercompany accounting for a multicompany enterprise. You need to set up: the Due to and Due from accounts.

Which main account type should you use?

Expense

Asset

Balance sheet

Liability

Profit and loss

25. A company plans to allocate revenue across occurrences by using recognition basis.

Which recognition basis can you use?

Mid-month split

Revenue schedule

Actual start date

Monthly

26. Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution. Determine whether the solution meets 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 controller notices incorrect postings to the ledger entered via journal.

The system must enforce the following:

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

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

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

✑ 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:

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

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

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

Does the solution meet the goal?

Yes

27. A company uses Dynamics 365 Finance to manage budgets.

You need to reallocate funds during the year.

Which budget code should you use?

Carry-forward

Zero-based

Pre-encumbrance

Transfer

28. CORRECT TEXT

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

You need to assign the Accountant closing role for the USMF legal entity to an employee named Theresa Jayne.

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

29. CORRECT TEXT

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

You need to generate a trial balance report for the period of January 1, 2017 to December 31, 2017. To validate you results, save the file in Microsoft Excel format to the DownloadsTrial folder.

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

30. A client wants Dynamics 365 Finance to calculate sales tax on a sales order line once an item is added. The sales tax group is already populated with a value.

You need to ensure that the sales tax will calculate.

Which field should you populate?

sales tax code

item group

customer address

item sales tax group

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31. 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 perform? To answer, select the appropriate configuration in the answer area. NOTE: Each correct selection is worth one point.

32. A company configures budget controls at the beginning of the year.

Which three budget control transaction actions occur when the budget control is turned off mid-year. Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

Activities are unrecorded for budget control purposes.

Budget register entries that have been posted after budget control is turned off will not be considered for budget control.

Posted documents might incorrectly reflect any relieving amounts or balances in inquiries and reports that are related to budget control.

Budget checks are performed. You can view the budget reporting through financial reports.

You can view the budget reporting through financial reports.

33. You are using Microsoft Dynamics 365 finance

You need to acquire a fixed asset.

What are three possible ways to achieve the goal? Each correct answer presents a complete solution

NOTE: bath collect selection is worth one point.

Select a fixed asset account type and transaction type acquisition in a general journal.

Eliminate an investment project once it is finished

Use a budget plan.

Select a fixed asset procurement category on the purchase order line

Use a sates invoice.

34. A company has many customers who are not paying invoices on time.

You need to use the collection letter functionality to manage customer delinquencies.

What are two possible ways to achieve the goal? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

Cancel the collection letters after they are created and posted.

Print all of the collection letters.

Delete the collection letters after posting when an error occurs.

Post the collection letters.

35. HOTSPOT

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.

36. 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,

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

Create a separate closing schedule for every legal entity.

Assign a ledger calendar to the closing process.

Create task areas and descriptions.

Designate resources and their scope based on closing roles.

37. You plan to manage delinquent customers by monitoring the collection proess in Dynamics %5 Finance.

You need to use the Collections list pane to monitor the collection process .

What must you do first?

Set up customer groups

Age customer balances.

Set up customer pouts.

Update financials

38. A client needs guidance on month-end closing procedures.

The client needs to be able to stop all teams except Accounts payable and General ledger from posting

transactions for the month.

You need to configure Dynamics 365 Finance to allow only those two teams to transact during the period

being closed.

Which three actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

Create an access group called month end access for Accounts payable and General ledger team members.

Set all modules to none to prevent any transactions from being posted.

Configure the financial period close workspace tasks to the Accounts payable and General ledger teams only

Move the period status to on hold for your client’s one legal entity.

Assign the security group month end access on the ledger calendar form for the modules they need access to.

39. You are a Dynamics 365 Finance consultant.

You are currently unable to collaborate or track progress toward month-end close across legal entities in the current system.

You need to resolve the issue.

What should you configure?

Financial reporting

Financial insights workspace

Electronic reporting

Financial period close workspace

40. A client uses the standard trial balance in Dynamics 365 Finance.

The client has the following requirements:

✑ ability to run the trial balance by main account, department, and division

✑ ability to run the trial balance by just main account and department

You need to ensure that these options are visible in the trial balance report parameters.

What should you configure?

ledger validation

financial dimensions for department and division

financial dimension sets

account structure

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41. HOTSPOT

A rental service company hires you to configure their system to implement accrual schemes.

You need to configure the accrual schemes for this company.

Which configuration and transaction options should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

42. DRAG DROP

A client observes that some customers are late paying their invoices. The client wants to use the Credit and Collections functionality to send collection letters to customers.

need to configure the system to support collection letter functionality and processing.

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.

43. HOTSPOT

A client plans to use Dynamics 365 for Finance and Operations for year-end 1099 reporting in the United States. You are viewing a vendor master data record on the 1099 FastTab.

44. A customer uses the sales tax functionality in Dynamics 365 Finance.

The customer reports that when a sales order is created, sales tax does not calculate on the line.

You need to determine why sales tax is not calculated.

What are two possible reasons? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

The sales tax group is populated on the line, but the item sales tax group is missing.

The sales tax settlement account is not configured correctly.

The sales tax authority is not set up for the correct jurisdiction.

The sales tax code and item sales tax code are selected, but the sales tax group is not associated to both codes.

The sales tax group and item sales tax group are selected, but the sales tax code is not associated with both groups.

45. You need to view the results of Fourth Coffee Holding Company's consolidation.

Which three places show the results of financial consolidation? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

a financial report run against the company Fourth Coffee

a trial balance in the Fourth Coffee Holding Company

a trial balance in the company Fourth Coffee

a financial report run against the Fourth Coffee Holding Company

the consolidations form in Fourth Coffee Holding Company

46. HOTSPOT

You must configure journal controls in Dynamics 365 for Finance and Operations.

Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic

47. 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 one legal entity, two departments, and two divisions. The client is implementing Dynamics 365 Finance. The departments and divisions are set up as financial dimensions.

The client has the following requirements:

✑ Only expense accounts require dimensions posted with the transactions.

✑ Users must not have the option to select dimensions for a balance sheet account.

You need to configure the ledger to show applicable financial dimensions based on the main account selected in journal entry.

Solution: Configure one account structure for expense accounts and apply advanced rules.

Does the solution meet the goal?

Yes

48. CORRECT TEXT

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

You need to automate the allocation of a prepaid expense of 2 percent of all product sales.

The allocation must be posted to account number 222222.

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