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NEW QUESTION # 202
A company implements basic budgeting functionality in Dynamics 365 Finance.
The company wants to allocate budget register entries for sales expense amounts to each period based on a predetermined percentage.
You need to configure the allocation.
Which functionality should you use?
- A. Budget control
- B. Period allocation key
- C. Allocation term
- D. Budget transfer rule
Answer: C
NEW QUESTION # 203
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. Define the maximum charge amount on the vendor record
- C. Enter the maximum amount when you set up the charges code
- D. Enable invoice matching validation in the Accounts payable parameters
- E. Set the maximum charge amount in the Accounts payable parameters
Answer: C,D
Explanation:
Section: Implement and manage accounts payable and receivable
Explanation/Reference:
NEW QUESTION # 204
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 # 205
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.
Answer:
Explanation:
Explanation:
Reference:
https://www.loganconsulting.com/blog/fixed-asset-determination-rules-in-d365-for-finance-and-operations/
NEW QUESTION # 206
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: 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?
- A. Yes
- B. No
Answer: A
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation- elimination-overview
NEW QUESTION # 207
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:
Explanation:
NEW QUESTION # 208
An organization is setting up 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.
- A. shift work hours
- B. budget cycles
- C. financial transactions
- D. fixed asset depreciation
- E. standard work hours
Answer: A,C,D
NEW QUESTION # 209
A client wants to ensure that transactions posted to the General Ledger have the correct combination of account number and dimensions.
The Services Industry P&L Account Structure has the following information:
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:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/configure-account-structures
NEW QUESTION # 210
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 # 211
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:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cost-accounting/terms-cost-accounting
NEW QUESTION # 212
A multinational corporation is headquartered in the United States, with subsidiaries in Canada and Spain.
The corporation requires consolidated reports for its parent organization in Europe. The accounting currency for the corporation is USD. The reporting currency is EUR.
The corporation must automate gain and loss calculations for the EUR reporting currency during ledger settlements to streamline its period-end closing process.
For the Spanish subsidiary, local regulations require checks to include the currency gender. EUR is feminine in this context.
You need to configure the system.
Which two actions should you perform? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. Configure the currency gender of EUR as Feminine for the Spanish legal entity.
- B. Configure a default currency override for the Spanish subsidiary to use USD for all transactions.
- C. Set the accounting currency to USD and the reporting currency to EUR in the corporation ledger setup.
- D. Disable gain and loss calculations for the reporting currency during ledger settlement.
Answer: A,C
Explanation:
[C] In Dynamics 365 Finance, currency gender is a feature primarily used for Spanish-speaking companies. This feature allows you to specify the gender of a currency (masculine or feminine) to ensure grammatically correct text when displaying amounts, particularly in reports and checks.
Impact:
The currency gender setting is mainly used in reports and checks, where the literal (text) amount is displayed. It ensures that the amount is expressed grammatically correctly in the local language.
[D]
To automate gain and loss calculations for the EUR reporting currency during ledger settlements in Dynamics 365 Finance for consolidated reports, you'll need to configure the "Post foreign currency realized gains/losses for ledger settlements" feature. This involves enabling the "Enable process automation for ledger settlement" parameter and ensuring the relevant main accounts are selected for ledger settlement.
Reporting Currency:
The reporting currency is a secondary accounting currency used for consolidation and reporting.
Reference:
https://learn.microsoft.com/en-us/dynamics365/finance/localizations/spain/emea-esp-print-checks-with-spanish-layout
https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-settlements
NEW QUESTION # 213
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. Configure exchange rate provider, create exchange rate type, and import the currency exchange rates.
- B. 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. - 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. Select the appropriate HTML key values from the available exchange rate providers. Then, use the provider for importing one currency exchange rate type.
Answer: A
Explanation:
Section: Manage and apply common processes
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 # 214
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 # 215
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 stage allocation at the desired workflow stage.
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-allocation
NEW QUESTION # 216
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?
- A. Yes
- B. No
Answer: A
Explanation:
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation- elimination-overview
NEW QUESTION # 217
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. No
- B. Yes
Answer: A
NEW QUESTION # 218
Hotspot Question
A company manufactures and installs units for industrial manufacturing plans.
Revenue for the units recognized based on a median price when the unit install. A three-year warranty is sold with each unit. Revenue for the warranty is recognized equally in each year the warranty covers.
You need to configure and process revenue recognition.
Which parameter should you configure? To answer select he appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 219
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.
- A. budget cycles
- B. shift work hours
- C. financial transactions
- D. fixed asset depreciation
- E. standard work hours
Answer: A,C,D
Explanation:
Section: Set up and configure financial management
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/fiscal-calendars-fiscal- years-periods
NEW QUESTION # 220
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Achieving the Microsoft MB-310 certification can be a great career move for individuals who are looking to advance their career in the field of finance and accounting. Microsoft Dynamics 365 Finance Functional Consultant certification demonstrates to employers that the candidate has the skills and knowledge necessary to manage financial processes and systems using the Dynamics 365 Finance platform. With this certification, professionals can increase their chances of securing lucrative job roles and career opportunities in the finance industry.
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