Microsoft MB-310 Practice Test Pdf Exam Material [Q109-Q134]

Microsoft MB-310 Practice Test Pdf Exam Material

MB-310 Answers MB-310 Free Demo Are Based On The Real Exam

To pass the MB-310 certification exam, candidates must possess a strong understanding of financial management concepts and be able to apply this knowledge to real-world scenarios. They must also have experience configuring and managing financial modules within Microsoft Dynamics 365 Finance. MB-310 exam includes multiple-choice questions that test the candidate’s knowledge of financial management concepts, as well as scenario-based questions that require them to apply their knowledge to solve problems.

NEW QUESTION # 109
You are a controller in an organization. You are identifying cost drivers to see how changes in business activities affect the bottom line of your organization. You need to assess cost object performance to analyze actual versus budgeted cost and how resources are consumed.
You need to demonstrate your understanding of cost accounting terminology.
Which component maps to the cost accounting terminology?
To answer, drag the appropriate component to the correct cost accounting terminology. Each source may be used once. You may need to drag the split bar between panes or scroll to view content.
NOTE: Each correct selection is worth one point.

Answer:

Explanation:

Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cost-accounting/terms-cost-accounting

NEW QUESTION # 110
You need to set up legal entity currencies and conversions in Dynamics 365 Finance.
You review the hierarchy for consolidation of multiple legal entities.

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:

Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-consolidations-currency-translation

NEW QUESTION # 111
A client plans to use financial statements in Dynamics 365 Finance. The client wants to process the statements by using various combinations of the components to create custom reports.
You need to associate the report components to the purpose.
Which report components should you use for each purpose? To answer, drag the appropriate component to the correct purpose. Each component 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.

Answer:

Explanation:

Explanation:

Reference:
https://docs.microsoft.com/en-us/dynamics365/fin-ops-core/dev-itpro/analytics/financial-report-components

NEW QUESTION # 112
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.

Answer:

Explanation:

NEW QUESTION # 113
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:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview

NEW QUESTION # 114
You need to determine the root cause for User1's issue.
Which configuration options should you check? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

Answer:

Explanation:

Explanation:

NEW QUESTION # 115
You need to process expense allocations.
Which features should you use? To answer, drag the appropriate features to the correct requirements. Each feature may be used once, more than once, or net 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.

Answer:

Explanation:

Explanation

Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules

NEW QUESTION # 116
You need to recommend a solution to prevent User3's issue from recurring.
What should you recommend?

A. Create a procurement category.
B. Configure a sales order template.
C. Create a service item.
D. Configure automatic charge codes.

Answer: D

Explanation:
Explanation/Reference:
Manage budgeting and fixed assets
Question Set 1

NEW QUESTION # 117
You are setting up of the process for an expense report approval in Dynamics 365 for Finance and Operations.
You need to assign permission for each participant in the workflow approval process to perform their tasks.
Which action can each participant perform? To answer, select the appropriate option 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/fin-and-ops/organization-administration/workf

NEW QUESTION # 118
A client uses Dynamics 365 for Finance and Operations for accounts receivable.
You need to configure the method of payment to enforce the accounts receivable clerk to enter the wire number for the received electronic payment.
Which item should you set up as mandatory?

A. Select bank transaction type
B. Select Deposit slip
C. Select payment reference
D. Select Payment ID

Answer: C

Explanation:
Section: Topic 3, Implement and manage accounts payable and receivable
Explanation

NEW QUESTION # 119
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?

A. No
B. Yes

Answer: A

NEW QUESTION # 120
You are implementing Dynamics 365 Finance.
You must track freight charges, freight amounts must be included in the vendor invoice amount and the expense recorded in a ledger account defined for Freight.
You need to configure the Accounts payable charges.
How should you set up the charges? To answer, drag the appropriate posting type to the correct account type.
Each posting type 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.

Answer:

Explanation:

Explanation:

NEW QUESTION # 121
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 # 122
A company is preparing to complete yearly budgets.
The company plans to use the Budget module in Dynamics 365 Finance for budget management.
You need to create the new budgets.
What should you do?

A. Combine previous year budgets into a single budget.
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B. Create budget plans for multiple scenarios.
C. Create budget plans to define the revenues for a budget.

Answer: B

Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planningoverview- configuration

NEW QUESTION # 123
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.

Answer:

Explanation:

NEW QUESTION # 124
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to apply a constant currency exchange rate to calculate the reporting currency value of fixed assets.
To complete this task, sign in to the Dynamics 365 portal.

Answer:

Explanation:
See explanation below.
Explanation
The currency Translation Type needs to be set to Current. This option uses the last rate on or before the period specified in the report regardless of what the exchange rate was at the time of purchase for each asset.
Navigate to General Ledger > Chart of Accounts > Accounts > Main Accounts.
Select the Financial Reporting account.
In the Reporting currency exchange rate type, select Current from the drop-down list.
Click Save to save the changes.

NEW QUESTION # 125
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 item posting groups for purchase requisitions.
Does the solution meet the goal?

A. No
B. Yes

Answer: A

Explanation:
Explanation

NEW QUESTION # 126
You need to configure the system to meet invoicing requirement.
Which features should you use? To answer, drag the appropriate features to the correct requirements. Each feature 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.

Answer:

Explanation:

Explanation:

Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/vendor-invoices-overview

NEW QUESTION # 127
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.

A. Create the next fiscal year
B. Configure the ledger calendar for the new fiscal year
C. Validate the main account type
D. Configure the Fiscal year close parameters
E. Configure the transfer balance

Answer: A,C,D

NEW QUESTION # 128
A company uses basic budgeting functionality in Dynamics 365 Finance.
A budget manager plans to review and approve budget register entries m the system.
You need to set up approval workflows.
Which four actions should you perform m sequence?
To answer, move the appropriate actions from the list of actions to the answer area and arrange them m the correct order.

Answer:

Explanation:

Explanation:

NEW QUESTION # 129
You are configuring the Fixed assets module for a Dynamics 365 Finance and Operations environment, You need to set up the basic configuration to create a fixed asset Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

A. the number sequence
B. the property type
C. the group
D. the name
E. the type

Answer: A,E

NEW QUESTION # 130
You are configuring the Accounts payable module for a company.
The company needs to set a limit on the charges they will pay for specific items.
You need to set up the limit for charges.
Which two actions should you perform? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

A. Use budget control with the specified charges code
B. Enable invoice matching validation in the Account payable parameters
C. Enter the maximum amount when you set up the charges code
D. Define the maximum charge amount on the vendor record
E. Set the maximum charge amount in the Accounts payable parameters

Answer: B,C

Explanation:
Section: Topic 3, Implement and manage accounts payable and receivable

NEW QUESTION # 131
You need to configure the budgeting module to meet Fourth Coffee's requirements.
Which configuration should you use for each task? To answer select the appropriate options in the answer m NOTE: Each correct selection is worth one point.

Answer:

Explanation:

NEW QUESTION # 132
A company uses basic budgeting functionality in Dynamics 365 Finance.
The company wants to add fixed asset depreciation expenses to its budget register entry. The depreciation expense must be automatically calculated.
You need to create budget register entries for fixed asset depreciation expense.
Which four 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:

Explanation:

NEW QUESTION # 133
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.