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Microsoft MB-310 Practice Test - Questions Answers, Page 10

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Question 91

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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.
Suggested answer: A

Explanation:

Answer: A

Explanation:


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.

asked 05/10/2024
Rodrigo Valencia
42 questions

Question 92

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SIMULATION

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 Downloads\Trial folder.

To complete this task, sign in to the Dynamics 365 portal.
Suggested answer: A

Explanation:

Answer: A

Explanation:


Click General ledger > Reports > Transactions > Trial Balance

Enter the Start and End dates for the report.

Click Destinations ... to specify how you want to 'print' the report.

Select File as the destination.

Select the Downloads\Trial folder for the location.

Select Microsoft Excel for the file format.

Click OK to close the 'Print destination settings' form.

Click OK to 'print' (save) the report to the selected destination.

asked 05/10/2024
Wojciech Oleksiak
37 questions

Question 93

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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

two account structures

two derived financial dimension hierarchies

two derived financial dimension hierarchies

all financial dimensions by using the group dimension functionality

all financial dimensions by using the group dimension functionality

two financial dimension sets

two financial dimension sets
Suggested answer: D
asked 05/10/2024
Ian Lloyd
36 questions

Question 94

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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?

Profit and loss

Profit and loss

Expense

Expense

Balance sheet

Balance sheet

Liability

Liability

Asset

Asset
Suggested answer: C

Explanation:

References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/intercompany-accounting-setup

asked 05/10/2024
Vinnie Meuldijk
32 questions

Question 95

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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 Finance. All companies and data reside in Dynamics 365 Finance.

The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Dynamics 365 Finance instead.

You need to configure the system and correctly perform eliminations.

Solution: Select Consolidate online in Dynamics 365 Finance. 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?

Yes

Yes

No

No
Suggested answer: B

Explanation:

Section: [none]

References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview

asked 05/10/2024
Mark Arnold Santos
37 questions

Question 96

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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 Finance. All companies and data reside in Dynamics 365 Finance.

The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Dynamics 365 Finance instead.

You need to configure the system and correctly perform eliminations.

Solution: Select Consolidate with import.

Does the solution meet the goal?

Yes

Yes

No

No
Suggested answer: B

Explanation:

References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview

asked 05/10/2024
Matias Cordero Ochoa
35 questions

Question 97

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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 Finance. All companies and data reside in Dynamics 365 Finance.

The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Dynamics 365 Finance 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?

Yes

Yes

No

No
Suggested answer: A

Explanation:

References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview

asked 05/10/2024
Fu Sin
31 questions

Question 98

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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 Finance. All companies and data reside in Dynamics 365 Finance.

The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Dynamics 365 Finance instead.

You need to configure the system and correctly perform eliminations.

Solution: Set up Elimination rules in the system. Then, run an elimination proposal. Configure the rules to post to any company that has Use for financial elimination process selected in the legal entity setup.

Does the solution meet the goal?

Yes

Yes

No

No
Suggested answer: A

Explanation:

References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview

asked 05/10/2024
Phillip Doman
34 questions

Question 99

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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?

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

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.

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

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.

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.

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.
Suggested answer: A

Explanation:

Section: [none]

References: https://community.dynamics.com/365/financeandoperations/b/365operationsbysandeepchaudhury/posts/configure-currency-exchange-rate-providers-and-import-exchange-rates-automatically-in-dynamics-365-for-finance-and- operations

asked 05/10/2024
Pushparaj A
40 questions

Question 100

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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?

Use journal control to specify which account types are valid for the General ledger journal.

Use journal control to specify which account types are valid for the General ledger journal.

Use advanced ledger entries to define the account types that can be used in the General ledger journal.

Use advanced ledger entries to define the account types that can be used in the General ledger journal.

Configure the voucher series associated with this journal to allow only ledger account types.

Configure the voucher series associated with this journal to allow only ledger account types.

Create a journal template that has ledger as the account type and offset account type.

Create a journal template that has ledger as the account type and offset account type.
Suggested answer: B
asked 05/10/2024
Haleem SHITOU OGUNGBEMI
42 questions
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