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Conclusion
Taking and passing the Microsoft MB-310 test is a step in the right direction for functional consultants seeking to learn and master the act of meeting business requirements. The Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate certification being globally recognized will prepare you to take more roles in the industry if you nail such a test. Also, this description has highlighted a few books you need to efficiently prepare for and clear the actual evaluation. Everything is in your hands now so do your best!
Microsoft Dynamics 365 Finance Exam Certification Details:
| Number of Questions | 40-60 |
| Exam Name | Microsoft Certified - Dynamics 365 Finance Functional Consultant Associate |
| Exam Price | $165 (USD) |
| Books / Training | MB-310T00-A: Microsoft Dynamics 365 Finance |
| Passing Score | 700 / 1000 |
| Sample Questions | Microsoft Dynamics 365 Finance Sample Questions |
NEW QUESTION 104
You are a controller for a public sector organization. You need detailed fiscal tracking and reporting.
You need to set up fund types categorized under specific fund classes.
Which fund type can you set up for each fund class? To answer, drag the appropriate fund types to the correct fund classes. Each fund type may be used once, more than once, or not at all. You may need to dreg the split bar between panes or scroll to view content.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION 105
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 online in Finance and Operations. Include eliminations during the process or as a proposal. Setup the transactions to post in the legal entity configured for consolidations.
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
NEW QUESTION 106
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. Select all the bank accounts for the bank statement files, and then upload all files.
- B. Select Account reconciliation on the bank account form.
- C. Import bank statements from the Data management workspace.
- D. Navigate to Import statement on the Bank Statements page of Cash and Bank Management.
- E. Select import statement for multiple bank accounts in all legal entities, and then upload a zip file.
Answer: B,C,E
NEW QUESTION 107
A company needs to create budget plan templates for its budgeting process.
You need to create the budget plan templates.
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:
1 - Define budgeting financial dimension sets
2 - Create budget plan columns
3 - Create budget plan document layouts
4 - Generate budget plan templates
NEW QUESTION 108
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.
Answer:
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/cost-management/costing-versio
NEW QUESTION 109
A client plans to use the cost accounting module in Dynamics 365 for Finance and Operations. You need to associate the correct definitions to the correct cost accounting concepts. Which terms match the definitions?
To answer, select the appropriate configuration in the answer are3. NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cost-accounting/terms-cost-accounti
NEW QUESTION 110
You need to configure settings to resolve User1's issue.
Which settings should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION 111
A company plans to use Dynamics 365 for Finance and Operations. You need to configure basic budgeting.
Which set of actions must you perform?
- A. * Define a budget journal.
* Define budgeting parameters and number sequences.
* Define budgeting dimensions.
* Create budget models and codes.
* Setup budget allocation terms. - B. * Define budget exchange ratj^types.
* Define budgeting parameteh'and number sequences.
* Define budgeting dimensions.
* Create budget models.
* Define budget codes. - C. * Define a budget journal,
* Define budgeting parameters.
* Define budgeting dimensions.
* Create budget models and codes.
* Define number sequences. - D. * Define a budget journal.
* Define budgeting parameters and number sequences.
* Define rules for budget transfers.
* Create budget models.
* Define budget codes.
Answer: D
NEW QUESTION 112
SIMULATION
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to generate a trial balance report for the period of January 1, 2017 to December 31, 2017. To validate you results, save the file in Microsoft Excel format to the Downloads\Trial folder.
To complete this task, sign in to the Dynamics 365 portal.
- A. Click General ledger > Reports > Transactions > Trial Balance
* Enter the Start and End dates for the report.
* Click Destinations ... to specify how you want to 'print' the report.
* Select File as the destination.
* Select the Downloads\Trial folder for the location.
* Select Microsoft Excel for the file format.
* Click OK to close the 'Print destination settings' form.
* Click OK to 'print' (save) the report to the selected destination. - B. Click General ledger > Reports > Transactions > Trial Balance
* Enter the Start and End dates for the report.
* Click Destinations ... to specify how you want to 'print' the report.
* Select Microsoft Excel for the file format.
* Click OK to close the 'Print destination settings' form.
* Click OK to 'print' (save) the report to the selected destination.
Answer: A
NEW QUESTION 113
A client wants to use Dynamics 365 Finance invoice validation functionality.
You need to recommend the invoice validation functionality that meets their requirements.
Which functionality should you recommend for each requirement? To answer, drag the appropriate functionality to the correct requirement. 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.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/tasks/set-up-accounts-payable-invoice-
NEW QUESTION 114
You are processing checks in Dynamics 365 Finance for a client.
You need to identify the outcome of the processed checks.
What is the check status for each scenario? To answer, drag the appropriate check statuses to the scenarios. Each check status 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:
NEW QUESTION 115
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:
1 - In the General ledger module, select the periodic task foreign currency revaluation. Then, specify the accounts eligible for revaluation, excluding the Accounts payable account, select the currency, and select preview before posting.
2 - On the main account setup form, set foreign currency revaluation to on for the Accounts payable account. Then, specify the exchange rate type.
3 - In the Accounts payable module, select the periodic task foreign currency revaluation. Then, specify the parameters for revaluation and perform the revaluation.
4 - In the foreign currency revaluation preview form, ensure that the foreign currency proposal is correct. Then post the revaluation.
NEW QUESTION 116
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: 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: B
Explanation:
Section: Manage and apply common processes
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation- elimination-overview
NEW QUESTION 117
A customer uses Dynamics 365 Finance to manage budgets.
You review a customer's budget funds available calculation and discover that the budget amounts posted two weeks ago are not reflected in the budget control check on a purchase order.
You verify that budget control is set to active.
You need to determine why the budget posted two weeks ago is not reflecting correctly.
What should you do?
- A. Post a budget transfer to add the correct funds.
- B. Verify whether budget plans are still in draft status.
- C. Verify that available budget funds are configured appropriately.
- D. Compare the budget control active date to the date of the posted register entries to verify that it was active at the time of posting.
Answer: D
Explanation:
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/budget-control-overview-configuration Manage budgeting and fixed assets Testlet 2 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
Munson's Pickles and Preserves Farm grows and distributes produce, jellies, and jams. The company's corporate headquarters is located in Dallas, TX. Munson's has one operations center and seven regional distribution centers in the United States.
The company has two wholly owned subsidiaries that operate in Canada. The Canadian entity owns an entity in France.
Munson's plans to expand into Latin America by purchasing the last 25 percent of a subsidiary that they own in Costa Rica. This process is expected to complete within the next two years.
The company plans to implement Dynamics 365 Finance and Dynamics 365 Supply Chain to meet their growing business needs.
Current environment. General
Munson's uses a mix of internally-developed legacy systems that handle their finance and distribution activities.
The company has an isolated CRM system.
* Both Canadian subsidiaries have two departments: marketing and operations.
* Financial reporting is difficult due to data residing in disparate systems.
* Financial reporting is currently performed by using Microsoft Excel.
* Pre-orders in the current system are difficult to track because the order management system is not integrated with the finance system.
* Pickle sales post to one revenue account, but this does not allow for targeted reporting by pickle cut and type.
Current environment. Organization
The following chart shows Accounting/Reporting Currencies and Tax ID, if applicable.
* Typically, vendor invoices are received prior to receipt of product.
* The following fixed assets are sold for a loss:
1. BUILD-100
2. CAR-1233
* At the regional distribution centers, the value for physical inventory does not match the inventory in the financial system.
* Munson's rents their corporate office. Rent is not paid by purchase order. Rent is due once a quarter.
* Allocations are performed manually.
* Barrels are inventoried by site and warehouse.
* Munson's has multiple depreciation and tax books for all of their fixed asset equipment.
* Budgets are posted at the department level for each legal entity.
Requirements. Sales
* Customers should be able to pre-order for fall release of pickles.
* Three-way matching must be enforced for all purchases.
* Fixed asset sale transactions require a ledger account entered at the time of transaction.
* Fixed assets purchased must be automatically created in fixed asset module. This includes inventory items and write in purchase orders/non-inventoried items.
* One dollar from every sale needs must be tracked and donated at the end of each month to a charitable organization.
* Purchasing budgets must be enforced at the main account level.
Requirements. Finances
* Accounts payable must be able to enter vendor invoices on the day they were received to be settled against when product is received.
* Accounts payable must be able to enter vendor invoices to accrue expense without specifying a purchase order at the time of entry.
* Postage expenses must be split evenly across the regional distribution centers automatically.
* Administrative expenses must be distributed across the regional distribution centers by percentage of fulfillment orders monthly.
* Pickling machines depreciation must be uniquely recorded for visibility but not post to the ledger.
Issues
* During implementation testing, User1 indicates that after packing slips are generated for purchase orders, there are no ledger postings.
* User2 indicates that fixed assets purchased on a purchase order do not show up in the Fixed Assets module.
* User3 reports that they are seeing inconsistent application of the one-dollar donation from all sales orders.
* User4 in the Canadian subsidiary is able to purchase supplies for marketing despite exceeding the marketing department budget.
* User5 reports that when purchasing a non-inventoried computer, the system is automatically assigning it to the buildings fixed asset group.
NEW QUESTION 118
A company makes frequent payments to its vendors by using various due dates and discounts.
You need to set up and create a vendor payment by using a payment proposal.
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
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cash-bank-management/tasks/vendor-payment-overview
NEW QUESTION 119
You are the controller for an organization. The company purchased six service trucks. You observe that your accountant set up Fixed assets - vehicles in the wrong fixed asset group.
You need to achieve the following:
* Change the fixed asset group so that the existing fixed asset transactions for the original fixed asset are canceled and regenerated for the new fixed asset.
* Ensure that all value models for the existing fixed asset are created for the new fixed asset. Any information that was set up for the original fixed asset is copied to the new fixed asset.
* Close the old fixed asset number in the old fixed assets group and create a new fixed asset number in the new fixed assets group.
* Ensure that the historical transactions are transferred to the new fixed asset.
* Ensure Historical Depreciation expense entries do not change.
What should you do?
- A. Reclassify the fixed asset
- B. Change the fixed asset group and keep the same fixed asset number
- C. Copy the fixed asset
- D. Transfer the fixed asset
Answer: A
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/fixed-assets/tasks/reclassify-fixed-assets
NEW QUESTION 120
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?
- A. Yes
- B. No
Answer: B
Explanation:
Section: Topic 1, Set up and configure financial management
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
NEW QUESTION 121
An organization is upgrading to Dynamics 365 Finance.
One of the organization's legal entities needs to have different main accounts for a period of six months.
You need to configure the legal entity override dates.
Which two actions can you perform? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. Set the value of the override date field at the shared level to be less restrictive.
- B. Set the value of the override date field at the shared level to be more restrictive.
- C. Set the value of the override date field at the legal level to be less restrictive.
- D. Set the value of the override date field at the legal entity level to be more restrictive.
Answer: A,D
Explanation:
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/plan-chart-of-accounts
NEW QUESTION 122
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:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-consolidations-currency-translati
NEW QUESTION 123
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 online in Finance and Operations. Include eliminations during the process or as a proposal. Setup the transactions to post in the legal entity configured for consolidations.
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/consolidation-elimination-overview
NEW QUESTION 124
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