Download Microsoft Dynamics 365 for Finance and Operations, Financials.MB-310.VCEplus.2020-02-08.57q.vcex

Vendor: Microsoft
Exam Code: MB-310
Exam Name: Microsoft Dynamics 365 for Finance and Operations, Financials
Date: Feb 08, 2020
File Size: 5 MB
Download Exam

How to open VCEX files?

Files with VCEX extension can be opened by ProfExam Simulator.

Download
ProfExam Simulator

Purchase
Coupon: EXAM_HUB

Discount: 20%

ProfExam Simulator ProfExam Simulator ProfExam Simulator ProfExam Simulator ProfExam Simulator

Demo Questions

Question 1
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?
  1. Yes
  2. No
Correct answer: A
Explanation:
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
Question 2
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 Yes.
  • 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 Yes.
    • 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?
  1. Yes
  2. No
Correct answer: B
Explanation:
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
Question 3
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?
  1. Yes
  2. No
Correct answer: B
Explanation:
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
Question 4
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.
NOTE: Each correct selection is worth one point.
Correct answer: To display the answer, ProfExam Simulator is required.
Explanation:
Question 5
A company is preparing to complete a year-end close process.
You need to configure the Dynamics 365 for Finance and Operations General ledger module.
Which three configurations must you use? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
  1. Configure the Fiscal year close parameters
  2. Configure the ledger calendar for the new fiscal year
  3. Configure the transfer balance
  4. Validate the main account type
  5. Create the next fiscal year
Correct answer: ADE
Explanation:
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
Question 6
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?
  1. when financial dimensions need to default from the main account onto an invoice
  2. when using encumbrance accounting for purchase orders
  3. when the system needs to automatically post a transaction to the accounts receivable account on invoice posting
  4. when creating one offset ledger entry based on transaction type 
Correct answer: B
Explanation:
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/posting-definitions
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/posting-definitions
Question 7
An organization is setting up a 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.
  1. standard work hours
  2. financial transactions
  3. fixed asset depreciation
  4. budget cycles
  5. shift work hours
Correct answer: BCD
Explanation:
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/fiscal-calendars-fiscal-years-periods
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/fiscal-calendars-fiscal-years-periods
Question 8
You are configuring automatic bank reconciliation functionality for a company that has multiple bank accounts. The company wants to import their bank statements.
You need to import electronic bank statements to reconcile the bank accounts.
Which three actions can you perform? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
  1. Select all the bank accounts for the bank statement files, and then upload all files
  2. Select Account reconciliation on the bank account form
  3. Import bank statements from the Data management workspace
  4. Navigate to Import statement on the Bank Statements page of Cash and Bank Management
  5. Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file
Correct answer: BDE
Explanation:
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cash-bank-management/reconcile-bank-statements-advanced-bank-reconciliation
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cash-bank-management/reconcile-bank-statements-advanced-bank-reconciliation
Question 9
A company plans to create a new allocation rule for electric utilities expenses.
The allocation rule must meet the following requirements:
Distribute overhead utility expense to each department.
Define how and in what proportion the source amounts must be distributed on various destination lines. 
You need to configure the allocation rule.
Which allocation method should you use?
  1. Fixed percentage
  2. Fixed weight
  3. Equally
  4. Basis
Correct answer: D
Explanation:
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/ledger-allocation-rules
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/ledger-allocation-rules
Question 10
A food manufacturer uses commodities such as beans, corn, and chili peppers as raw materials. The prices of the commodities fluctuate frequently. The manufacturer wants to use cost versions to simulate these fluctuations.
You need to set up cost versions and prices to accomplish the manufacturer's goal.
For which purpose should you use each costing type? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Correct answer: To display the answer, ProfExam Simulator is required.
Explanation:
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/cost-management/costing-versions
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/cost-management/costing-versions
CONNECT US
HOW TO OPEN VCE FILES

Use VCE Exam Simulator to open VCE files
Avanaset

HOW TO OPEN VCEX AND EXAM FILES

Use ProfExam Simulator to open VCEX and EXAM files
ProfExam Screen

ProfExam
ProfExam at a 20% markdown

You have the opportunity to purchase ProfExam at a 20% reduced price

Get Now!