Real MB-310 Exam Questions are the Best Preparation Material
Practice on 2024 LATEST MB-310 Exam Updated 235 Questions
Important Details
The candidates for this certification exam are Functional Consultants. These specialists analyze the business prerequisites and translate the same into completely realized business procedures and solutions that utilize industry best practices. These professionals function as a core resource in the implementation and configuration of applications that fulfill the business requirements.
The Microsoft MB-310 exam does not have any official prerequisites. However, the test takers must have a basic understanding and knowledge of financial operations and accounting principles, including accounts receivables and accounts payables, costing principles, budgeting, taxes, and fixed assets.
NEW QUESTION # 71
You are setting up a budget plan to accurately portray the projected budget for a company.
You need to select the appropriate allocation method for data distribution.
Which allocation methods should you use? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-allo
NEW QUESTION # 72
You are setting up main accounts in Dynamics 365 for Finance and Operations.
You need to configure the main accounts to meet the requirements.
Which options should you use? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 73
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 managing credit and collections.
You need to set up mandatory credit limits for all customer documents.
Solution: Select the Balance + All credit type on the Accounts receivable parameters form.
Select the Mandatory credit limit check box on the Customers form.
Does the solution meet the goal?
- A. No
- B. Yes
Answer: B
NEW QUESTION # 74
A company plans to implement expense management in Dynamics 365 Finance. The finance manager requires the following functionality:
* Define rules that employees must follow to submit an expense report.
* Share expense classifications between expense management and project accounting.
* Approve expenses on behalf of another employee.
You need to recommend configuration options.
Which configuration options should you recommend?
To answer, select the appropriate options in the answer area.
Answer:
Explanation:
Explanation
NEW QUESTION # 75
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?
- A. 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. - B. Select the appropriate HTML key values from the available exchange rate providers. Then, use the provider for importing one currency exchange rate type.
- C. 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. - D. Configure exchange rate provider, create exchange rate type, and import the currency exchange rates.
Answer: D
Explanation:
Explanation/Reference:
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
NEW QUESTION # 76
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?
- A. Yes
- B. No
Answer: B
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview
Topic 1, Fourth Coffee Case Study
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
Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively.
Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance environment to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes.
The current organizational chart is shown below:
Current environment
Systemwide setup
* Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials.
* All companies share a Chart of Accounts.
* Two dimensions are used: Department and Division.
* Budgeting is controlled at the department level.
* Customers and vendors are defined as two groups: Domestic and International.
* Mandatory credit check is set to No.
* Consolidate online is used for the consolidation of all companies.
* International main accounts are subject to foreign currency revaluation.
* The purchasing budget is used to enforce purchasing limits.
General ledger accounts
Fourth Coffee
* The base currency is USD.
* Three item groups are used: coffee, supplies, and nonstock.
* The standard sales tax method is used.
* Acquiring fixed assets requires a purchase order.
* All customer payment journals require a deposit slip.
* CustomerX is a taxable company.
* CustomerY is a tax-exempt company.
* CustomerZ is a taxable company.
* VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group.
* VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group.
* VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group.
CompanyA
* The base currency is USD.
* It consists of a marketing department and a digital division.
* A 4-5-4 calendar structure is used.
* The standard sales tax method is used.
CompanyB
* The base currency is CAD.
* The conditional sales tax method is used.
Requirements
Reporting
* A consolidated Fourth Coffee financial report is required in USD currency.
* Fourth Coffee and its subsidiaries need to be able to report sales by item type.
* Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments.
Issues
* User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account.
* User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division.
* When User3 posts an Accounts receivable payment journal, a deposit slip is not generated.
* User4 observes an increase in procurement department expenses for supplies.
* User5 observes that sales tax is not calculating on a sales order for CustomerZ.
* User6 observes that sales tax is calculating for CustomerY.
* User7 observes that the sales tax payment report is excluding posted invoice transactions.
* User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form.
* User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets.
* CustomerX requires a credit check when making a purchase and is currently at their credit limit.
NEW QUESTION # 77
You need to acquire the fixed assets that are associated with the purchase orders.
What should you do?
- A. Create the fixed assets in the fixed asset module and then select the fixed asset checkbox on the product receipt.
- B. Create the fixed assets in the fixed asset module and then acquire the asset.
- C. Select the fixed asset checkbox on the invoice.
- D. Reverse the product receipt and then repost it.
Answer: C
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/fixed-assets/acquire-assets-procurement
NEW QUESTION # 78
You need to setup a process of tracking, recording, and analyzing costs associated with the products or activities of a nonmanufacturing organization.
You need to configure the prerequisite setup for the standard costing version for the current period.
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:
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/cost-management/prerequisites-standard-costs
NEW QUESTION # 79
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.
- A. Set all modules to none to prevent any transactions from being posted.
- B. Move the period status to on hold for your client's one legal entity.
- C. Assign the security group month end access on the ledger calendar form for the modules they need access to.
- D. Create an access group called for Accounts payable and General ledger team members.
- E. Configure the financial period close workspace tasks to the Accounts payable and General ledger teams only
Answer: C,D,E
NEW QUESTION # 80
A retail company has outlets in multiple locations. Taxes vary depending on the location.
You need to configure the various components of the tax framework.
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:
Explanation
NEW QUESTION # 81
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 the Budget module in Dynamics 365 for Finance and Operations for budget management You need to create the new budgets.
Solution: Combine budgets from multiple legal entities to a master budget.
Does the solution meet the goal?
- A. Yes
- B. No
Answer: B
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-overview-configuration
NEW QUESTION # 82
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.
- A. Navigate to Import statement on the Bank Statements page of Cash and Bank Management
- B. Select all the bank accounts for the bank statement files, and then upload all files
- C. Import bank statements from the Data management workspace
- D. Select Account reconciliation on the bank account form
- E. Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file
Answer: A,D,E
Explanation:
Section: Set up and configure financial management
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cash-bank-management/reconcile- bank-statements-advanced-bank-reconciliation
NEW QUESTION # 83
A client has Accounts payable invoices in their legg entity in three different currencies. It is month-end, and the client needs to run the foreign currency revaluation process to correctly understand their currency exposure.
You need to set up Dynamics 365 for Finance and Operations to perform foreign currency revaluation, 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.
NOTE: More than one order of answer choices is correct. You will receive credit for any of the correct orders you select.
Answer:
Explanation:
Explanation
NEW QUESTION # 84
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. On the Cash flow forecasting setup form, use the Dependent Accounts setup to specify which account and percentage is associated to the main account.
D18912E1457D5D1DDCBD40AB3BF70D5D - B. Configure the parent/child relationship for the main account and subaccounts by using appropriate percentages.
- C. On the Cash flow forecasting setup form, configure the primary main account to assign a percentage to the dependent account.
- D. Configure the cash flow forecasting setup for Accounts Payable before you configure vendor posting profiles.
Answer: A
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cash-bank-management/cash-flow-forecasting
NEW QUESTION # 85
You need to prevent prohibited expenses from posting.
Which configurations should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
NEW QUESTION # 86
You are configuring Dynamics 365 for Finance and Operations.
You need to implement posting definitions for all available transaction types.
For which type of transactions can you implement posting definitions?
- A. Accounts payable, Accounts receivable, Bank, Budget, Payroll, and Purchasing
- B. Accounts payable, Bank, Budget, Fixed assets, and Payroll
- C. Accounts payable, Accounts receivable, Fixed assets, Payroll, and Purchasing
- D. Accounts payable, Accounts receivable, Budget, and Fixed assets
Answer: A
Explanation:
Section: Set up and configure financial management
Explanation
NEW QUESTION # 87
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.
Answer:
Explanation:
1 - Create an allocation schedule on the Budget planning configuration page
2 - Create a stage allocation on the Budget planning configuration page
3 - Add an automated task for budget planning storage allocation at the desired workflow stage Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-allocation
NEW QUESTION # 88
You are setting up main accounts in Dynamics 365 for Finance and Operations.
You need to configure the main accounts to meet the requirements.
Which options should you use? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 89
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.
Answer:
Explanation:
Explanation
NEW QUESTION # 90
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 # 91
You are the purchase manager of an organization. You purchase a laptop for your office for $2,000. You plan to create a purchase order and acquire the new fixed asset through the purchase order at time of invoicing.
You set up the system as follows: Fixed assets are automatically created during product receipt or vendor invoice posting and the capitalization threshold for the computers group (COMP) is set to $1,600.
You need to automatically create a fixed asset record when you post an acquisition transaction for the asset after you post the invoice.
How should you configure the fixed asset parameters to meet the criteria? To answer, select the appropriate option in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
NEW QUESTION # 92
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