MB-310: Microsoft Dynamics 365 Finance Functional Consultant

Question #: 51
Topic #: 3
DRAG DROP –
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.
Select and Place:

No answers

Selected Answer: C
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Question #: 52
Topic #: 4
You create a parent budget for the next fiscal year of a parent company. The parent company is configured as its own legal entity.
Franchises are configured as separate legal entities. The parent company sets the budget for each franchise based on the past year’s performance.
Ledger allocation rules, periods allocation keys, and budget allocation terms have not been created. Budget line items must be allocated to the budget for each franchise.
You need to ensure the franchise budgets are allocated.
What should you do?

A. Create ledger allocation rules. Set the allocation method to use ledger allocation rules.
B. Create period allocation keys. Set the allocation method to allocate across periods.
C. Set the allocation method to distribute.
D. Set the allocation method to aggregate.
E. Create budget allocation terms. Set the allocation method to allocate to dimensions.

Selected Answer: E
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Question #: 53
Topic #: 2
DRAG DROP –
You have implemented Dynamics 365 Finance.
You must implement interest fees to encourage customers to pay on time.
You need to configure interest fees.
Which functionality should be configured? To answer, drag the appropriate functionality to the correct scenario. Each functionality 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.
Select and Place:

No answers

Selected Answer: D
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Question #: 54
Topic #: 1
DRAG DROP –
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.
Select and Place:

No answers

Selected Answer: D
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Question #: 55
Topic #: 5
DRAG DROP
–
A company uses Microsoft Dynamics 365 Finance.
You receive a new purchase invoice. You must process the invoice as a fixed asset that complies with applicable tax regulations. Double entry is not permitted for asset acquisitions.
You need to configure the asset and books.
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.

No answers

Selected Answer: B
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Question #: 56
Topic #: 3
DRAG DROP –
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.
Select and Place:

No answers

Selected Answer: D
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Question #: 57
Topic #: 4
A company implements basic budgeting functionality in Dynamics 365 Finance.
Budget managers must be notified of a budget register posting task after a finance director approves an entry.
You need to configure the system.
Which workflow element should you use?

A. Commitment approval
B. Update budget balances budget register
C. Budget planning stage allocation
D. Approve budget account entry

Selected Answer: D
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Question #: 58
Topic #: 3
A company implements Dynamics 365 Finance. The company uses a third party to provide support services.
You need to configure a payment method to allow the company to reimburse any expenses reported by the third-party service provider.
Which two methods should you use? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.

A. Vendor
B. Bank
C. Worker
D. Ledger

Selected Answer: AB
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Question #: 59
Topic #: 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 managing credit and collections.
You need to set up mandatory credit limits for all customer documents.
Solution: Define a credit limit for each customer and select the Mandatory credit limit check box on the Customers form.
Does the solution meet the goal?

A. Yes
B. No

Selected Answer: C
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Question #: 60
Topic #: 5
HOTSPOT
–
A company is implementing Microsoft Dynamics 365 Finance.
The company is implementing the Fixed asset module and requires the following configuration:
• Set the threshold for fixed asset acquisitions at $10,000.
• Fixed asset acquisitions must be allowed from purchasing.
You need to configure the system.
Which parameter should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

No answers

Selected Answer: B
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Question #: 61
Topic #: 4
A company implements basic budgeting functionality in Dynamics 365 Finance.
Budget managers must be notified of a budget register posting task after a finance director approves an entry.
You need to configure the system.
Which workflow element should you use?

A. Commitment approval
B. Update budget balances budget register
C. Budget planning stage allocation
D. Approve budget account entry

Selected Answer: D
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Question #: 62
Topic #: 3
A company implements Dynamics 365 Finance. The company uses a third party to provide support services.
You need to configure a payment method to allow the company to reimburse any expenses reported by the third-party service provider.
Which two methods should you use? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.

A. Vendor
B. Bank
C. Worker
D. Ledger

Selected Answer: AB
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Question #: 63
Topic #: 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 managing credit and collections.
You need to set up mandatory credit limits for all customer documents.
Solution: Define a credit limit for each customer and select the Mandatory credit limit check box on the Customers form.
Does the solution meet the goal?

A. Yes
B. No

Selected Answer: D
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Question #: 64
Topic #: 5
HOTSPOT
–
A company is implementing Microsoft Dynamics 365 Finance.
The company is implementing the Fixed asset module and requires the following configuration:
• Set the threshold for fixed asset acquisitions at $10,000.
• Fixed asset acquisitions must be allowed from purchasing.
You need to configure the system.
Which parameter should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

No answers

Selected Answer: D
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Question #: 65
Topic #: 4
DRAG DROP
–
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.

No answers

Selected Answer: D
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Question #: 66
Topic #: 1
SIMULATION –
You are a functional consultant for Contoso Entertainment System USA (USMF).
USMF plans to implement a new manufacturing department that will be based in Australia.
You need to create a draft account structure for the new department. The account structure must use the same account structure as a department named
Manufacturing India and be named Manufacturing Australia.
To complete this task, sign in to the Dynamics 365 portal.

No answers

Selected Answer: D
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Question #: 67
Topic #: 5
A company uses Microsoft Dynamics 365 Finance.
You need to reclassify a fixed asset.
Which three actions does the system perform when an asset is reclassified? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

A. The system will generate reclassification journals.
B. The new books of the new fixed asset contain the date of the reclassification in the Acquisition date field.
C. All books for the existing fixed asset are created for the new fixed asset.
D. The existing fixed asset transactions for the original fixed asset are canceled and regenerated for the new fixed asset.
E. The new fixed asset only cancels out possible depreciations because the reclassification date is filled in in the Acquisition date field.

Selected Answer: D
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Question #: 68
Topic #: 3
You are configuring vendor collaboration security roles for external vendors. You manually set up a vendor contact.
You need to assign the Vendor (external) role to this vendor.
Which task can this vendor perform?

A. View consignment inventory.
B. Add a new or existing contact person to the vendor accounts that they are a contact for.
C. Deny or allow a contact person’s access to documents on the vendor collaboration interface that are specific to the vendor account.
D. Delete any contact person that they have created.

Selected Answer: D
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Question #: 69
Topic #: 4
DRAG DROP
–
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.

No answers

Selected Answer: D
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Question #: 70
Topic #: 1
SIMULATION –
You are a functional consultant for Contoso Entertainment System USA (USMF).
USMF plans to implement a new manufacturing department that will be based in Australia.
You need to create a draft account structure for the new department. The account structure must use the same account structure as a department named
Manufacturing India and be named Manufacturing Australia.
To complete this task, sign in to the Dynamics 365 portal.

No answers

Selected Answer: D
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Question #: 71
Topic #: 5
A company uses Microsoft Dynamics 365 Finance.
You need to reclassify a fixed asset.
Which three actions does the system perform when an asset is reclassified? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

A. The system will generate reclassification journals.
B. The new books of the new fixed asset contain the date of the reclassification in the Acquisition date field.
C. All books for the existing fixed asset are created for the new fixed asset.
D. The existing fixed asset transactions for the original fixed asset are canceled and regenerated for the new fixed asset.
E. The new fixed asset only cancels out possible depreciations because the reclassification date is filled in in the Acquisition date field.

Selected Answer: D
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Question #: 72
Topic #: 3
You are configuring vendor collaboration security roles for external vendors. You manually set up a vendor contact.
You need to assign the Vendor (external) role to this vendor.
Which task can this vendor perform?

A. View consignment inventory.
B. Add a new or existing contact person to the vendor accounts that they are a contact for.
C. Deny or allow a contact person’s access to documents on the vendor collaboration interface that are specific to the vendor account.
D. Delete any contact person that they have created.

Selected Answer: B
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Question #: 73
Topic #: 4
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. Budget transfer rule
C. Allocation term
D. Period allocation key

Selected Answer: D
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Question #: 74
Topic #: 5
A client is implementing accounts receivable in Dynamics 365 Finance.
You need to determine which requirements can be met by configuring the customer posting profile.
Which three requirements can be met? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.

A. Specifying a receivable account for certain customers
B. Setting an interest code for a group of customers
C. Specifying a revenue account for sales orders transactions
D. Setting terms of payment for a group of customers
E. Setting the liquidity ledger account used for cash flow forecast

Selected Answer: ACE
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Question #: 75
Topic #: 3
DRAG DROP
–
A company uses Dynamics 365 Finance for expense management.
The company has multiple legal entities and multiple departments. Each department may have a different expense policy that may conflict with the legal entity expense policy.
You need to configure prioritization of department expense policy over legal entity expense policy.
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.

No answers

Selected Answer: A
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Question #: 76
Topic #: 1
SIMULATION –
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to assign the Accountant closing role for the USMF legal entity to an employee named Theresa Jayne.
To complete this task, sign in to the Dynamics 365 portal.

No answers

Selected Answer: A
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Question #: 77
Topic #: 4
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. Budget transfer rule
C. Allocation term
D. Period allocation key

Selected Answer: D
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Question #: 78
Topic #: 5
A client is implementing accounts receivable in Dynamics 365 Finance.
You need to determine which requirements can be met by configuring the customer posting profile.
Which three requirements can be met? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.

A. Specifying a receivable account for certain customers
B. Setting an interest code for a group of customers
C. Specifying a revenue account for sales orders transactions
D. Setting terms of payment for a group of customers
E. Setting the liquidity ledger account used for cash flow forecast

Selected Answer: ACE
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Question #: 79
Topic #: 3
DRAG DROP
–
A company uses Dynamics 365 Finance for expense management.
The company has multiple legal entities and multiple departments. Each department may have a different expense policy that may conflict with the legal entity expense policy.
You need to configure prioritization of department expense policy over legal entity expense policy.
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.

No answers

Selected Answer: B
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Question #: 80
Topic #: 1
SIMULATION –
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to assign the Accountant closing role for the USMF legal entity to an employee named Theresa Jayne.
To complete this task, sign in to the Dynamics 365 portal.

No answers

Selected Answer: B
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Question #: 81
Topic #: 1
SIMULATION –
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to create a report that contains the sales tax settlements for the state of California during the quarter that began on January 1, 2017. To validate you results, save the file in Microsoft Excel format to the Downloads\Report folder.
To complete this task, sign in to the Dynamics 365 portal.

No answers

Selected Answer: A
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Question #: 82
Topic #: 4
DRAG DROP
–
A company uses the basic budgeting functionality in Dynamics 365 Finance. You are creating the budget in the system for the upcoming fiscal year.
The company uses budget workflow approvals to process budget entries. The company plans to split a business unit named IT and Infrastructure into two business units: Business Applications and IT Infrastructure.
You need to create the budget for the two business units based on 1.5 times the original business unit actuals from the past year.
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.

No answers

Selected Answer: D
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Question #: 83
Topic #: 5
HOTSPOT –
You are implementing Microsoft Dynamics 365 Finance.
You need to implement processes for updating fixed assets and creating fixed asset transactions.
Which process should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

No answers

Selected Answer: D
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Question #: 84
Topic #: 3
HOTSPOT –
A company implements basic budgeting functionality in Dynamics 365 Finance.
The company has 6-digit mam account numbers. Two account structures are used as follows:
• Profit and loss, which includes main account for revenue and expense account.
• Balance sheet, which includes main account for asset liability, and equity.
The accounts start with the following numbers:
Asset: 1 –
Liability: 2 –
Equity: 3 –
Revenue: 4 –
Cost of goods sold: 5 –
Selling expense: 6 –
Administration expense: 7 –
Other Income and expense: 8 –
The company allows budget transfers only between the selling expense account and revenue accounts.
You need to configure a budget transfer rule for the selling expense account.
What should you configure?
To answer, select the appropriate option in the answer area.
NOTE: Each correct answer is worth one point.

No answers

Selected Answer: D
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Question #: 85
Topic #: 1
SIMULATION –
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to create a report that contains the sales tax settlements for the state of California during the quarter that began on January 1, 2017. To validate you results, save the file in Microsoft Excel format to the Downloads\Report folder.
To complete this task, sign in to the Dynamics 365 portal.

No answers

Selected Answer: B
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Question #: 86
Topic #: 4
DRAG DROP
–
A company uses the basic budgeting functionality in Dynamics 365 Finance. You are creating the budget in the system for the upcoming fiscal year.
The company uses budget workflow approvals to process budget entries. The company plans to split a business unit named IT and Infrastructure into two business units: Business Applications and IT Infrastructure.
You need to create the budget for the two business units based on 1.5 times the original business unit actuals from the past year.
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.

No answers

Selected Answer: A
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Question #: 87
Topic #: 5
HOTSPOT –
You are implementing Microsoft Dynamics 365 Finance.
You need to implement processes for updating fixed assets and creating fixed asset transactions.
Which process should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

No answers

Selected Answer: A
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Question #: 88
Topic #: 3
HOTSPOT –
A company implements basic budgeting functionality in Dynamics 365 Finance.
The company has 6-digit mam account numbers. Two account structures are used as follows:
• Profit and loss, which includes main account for revenue and expense account.
• Balance sheet, which includes main account for asset liability, and equity.
The accounts start with the following numbers:
Asset: 1 –
Liability: 2 –
Equity: 3 –
Revenue: 4 –
Cost of goods sold: 5 –
Selling expense: 6 –
Administration expense: 7 –
Other Income and expense: 8 –
The company allows budget transfers only between the selling expense account and revenue accounts.
You need to configure a budget transfer rule for the selling expense account.
What should you configure?
To answer, select the appropriate option in the answer area.
NOTE: Each correct answer is worth one point.

No answers

Selected Answer: B
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Question #: 89
Topic #: 1
You are a Dynamics 365 Finance expert for an organization.
You need to configure the Financial period close workspace.
Which three configuration processes should you use? Each correct answer presents a part of the solution.
NOTE: Each correct selection is worth one point.

A. Create templates that contain the required tasks within the closing process and assign to closing role.
B. Create a separate closing schedule for every legal entity.
C. Assign a ledger calendar to the closing process.
D. Create task areas and descriptions.
E. Designate resources and their scope based on closing roles.

Selected Answer: ADE
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Question #: 90
Topic #: 5
A company uses Microsoft Dynamics 365 Finance to manage fixed assets.
The company uses laptops for three years and then sells the laptops externally.
You need to process laptop sales.
What should you do?

A. Create a fixed asset disposal journal.
B. Use a free text invoice to record the sale.
C. Create a sales order for the sale of the asset.
D. Use an inventory movement journal to record the disposal.

Selected Answer: B
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Question #: 91
Topic #: 4
HOTSPOT
–
A company implements basic budgeting functionality in Dynamics 365 Finance.
The company wants to achieve the following:
• Distribute budget amounts across financial dimensions.
• Require an approval workflow for budget transfers to the sales department.
• Approve a specific set of budget entries.
You need to configure the required basic budgeting functionality.
Which functionalities should you configure?
To answer, select the appropriate options in the answer area.
NOTE: Each correct answer is worth one point.

No answers

Selected Answer: D
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Question #: 92
Topic #: 3
A company uses expense management in Dynamics 365 Finance. The company has two legal entities.
CompanyA reimburses employees for travel-related expenses. CompanyB plans to reimburse remote employees monthly for travel-related expenses. All employees are required to complete expense reports.
You need to configure the expense type that can be used for both companies.
Which expense type category should you use?

A. Case
B. Shared
C. Project
D. Procurement

Selected Answer: B
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Question #: 93
Topic #: 2
HOTSPOT
–
A company uses Microsoft Dynamics 365 Finance to manage their computer hardware and support services.
A customer purchases the following three items on a sales order:
• laptop
• two tutoring sessions for use within the first year after purchase
• one-year warranty
Which item should you consider for the revenue recognition process? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

No answers

Selected Answer: B
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Question #: 94
Topic #: 1
You are a Dynamics 365 Finance expert for an organization.
You need to configure the Financial period close workspace.
Which three configuration processes should you use? Each correct answer presents a part of the solution.
NOTE: Each correct selection is worth one point.

A. Create templates that contain the required tasks within the closing process and assign to closing role.
B. Create a separate closing schedule for every legal entity.
C. Assign a ledger calendar to the closing process.
D. Create task areas and descriptions.
E. Designate resources and their scope based on closing roles.

Selected Answer: ADE
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Question #: 95
Topic #: 5
A company uses Microsoft Dynamics 365 Finance to manage fixed assets.
The company uses laptops for three years and then sells the laptops externally.
You need to process laptop sales.
What should you do?

A. Create a fixed asset disposal journal.
B. Use a free text invoice to record the sale.
C. Create a sales order for the sale of the asset.
D. Use an inventory movement journal to record the disposal.

Selected Answer: B
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Question #: 96
Topic #: 4
HOTSPOT
–
A company implements basic budgeting functionality in Dynamics 365 Finance.
The company wants to achieve the following:
• Distribute budget amounts across financial dimensions.
• Require an approval workflow for budget transfers to the sales department.
• Approve a specific set of budget entries.
You need to configure the required basic budgeting functionality.
Which functionalities should you configure?
To answer, select the appropriate options in the answer area.
NOTE: Each correct answer is worth one point.

No answers

Selected Answer: A
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Question #: 97
Topic #: 3
A company uses expense management in Dynamics 365 Finance. The company has two legal entities.
CompanyA reimburses employees for travel-related expenses. CompanyB plans to reimburse remote employees monthly for travel-related expenses. All employees are required to complete expense reports.
You need to configure the expense type that can be used for both companies.
Which expense type category should you use?

A. Case
B. Shared
C. Project
D. Procurement

Selected Answer: B
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Question #: 98
Topic #: 2
HOTSPOT
–
A company uses Microsoft Dynamics 365 Finance to manage their computer hardware and support services.
A customer purchases the following three items on a sales order:
• laptop
• two tutoring sessions for use within the first year after purchase
• one-year warranty
Which item should you consider for the revenue recognition process? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

No answers

Selected Answer: C
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Question #: 99
Topic #: 5
HOTSPOT
–
A company uses basic budgeting functionality in Dynamics 365 Finance.
The company requires an approval process for budget register entries. The company wants to add fixed asset depreciation expenses to its budget register entry. The depreciation expense must be automatically calculated.
You need to configure the necessary components in the system.
Which components should you configure?
To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

No answers

Selected Answer: C
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Question #: 100
Topic #: 4
You configure the basic budgeting functionality of Dynamics 365 Finance. You add budget values and actuals in the system.
You need to compare the budget values with the actual values.
Which three actions should you perform?
Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

A. Compare customer and vendor balances and budget register entries that are posted in the system.
B. Review budget and actual amounts that are spread across fiscal periods.
C. Generate a report on the differences between the actual fixed assets amounts and the preliminary budgeted amounts in the system.
D. Review general ledger transactions that are included in the calculated actuals amounts.
E. Drill through the details of the budget amount in budget register entries posted in the system.

Selected Answer: BDE