MB-310 practice questions
You maintain account control and bank balances for a company. You have a $100,000 credit limit from a bank. You must prevent the bank account from going below the defined credit limit when a transaction is posted. You need to configure the bank account credit limit. What should you do?
A. Add גˆ’$100,000 in the bank credit limit.
B. Add $100,000 in the bank credit limit.
C. Define a credit limit of $100,000 on the invoicing vendor account
D. Set the Control Balance option to credit in the General ledger account associated with the bank account.
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A company plans to allocate revenue across occurrences by using recognition basis. Which recognition basis can you use?
A. Median price
B. Revenue schedule
C. First of next month
D. Monthly
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A company signs a four-year contract for an IT support project. The manager wants to know how the revenue amounts will be allocated across the four-year period. You need to implement a revenue schedule to determine the revenue amounts for each month. Which setup should you use?
A. 60 months
B. 48 months
C. 4 years
D. 4 months
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A company plans to allocate revenue across occurrences by using recognition basis. Which recognition basis can you use?
A. Mid-month split
B. Revenue schedule
C. Actual start date
D. Monthly
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A company has many customers who are not paying invoices on time. You need to use the collection letter functionality to manage customer delinquencies. What are two possible ways to achieve the goal? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
A. Cancel the collection letters after they are created and posted.
B. Print all of the collection letters.
C. Delete the collection letters after posting when an error occurs.
D. Post the collection letters.
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A client uses Dynamics 365 Finance 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 payment reference
C. Select Payment ID
D. Select Deposit slip
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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 wants general journals to be used only to post ledger-type transactions. You need to set up journal configuration to achieve the requirement. Solution: Set up the journal control on the general journal to the account type of ledger. Does the solution meet the goal?
A. Yes
B. No
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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 wants general journals to be used only to post ledger-type transactions. You need to set up journal configuration to achieve the requirement. Solution: Set up the journal control to specify the account structure and ledger segment. Does the solution meet the goal?
A. Yes
B. No
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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 wants general journals to be used only to post ledger-type transactions. You need to set up journal configuration to achieve the requirement. Solution: Set up a default offset account on the journal name. Does the solution meet the goal?
A. Yes
B. No
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The controller at a company has multiple employees who enter standard General ledger journals. The controller wants to review these journal entries before they are posted. Currently, journals entries are posted without review. You need to configure Dynamics 365 Finance to help set up a system led review process to meet the controller s needs. Which functionality should you configure?
A. a Ledger daily journal workflow that uses the organizational hierarchy for journal posting, associated with the General ledger journal name
B. a saved query in the Voucher inquiries form for the controller to view all general journals posted to the ledger
C. a manual journal approval with the journal assigned to the user group that the employees are assigned to
D. the controller’s security rote so that he has approval privileges for General ledger journals
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Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution. Determine whether the solution meets 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 controller notices incorrect postings to the ledger entered via journal. The system must enforce the following: ✑ Expense accounts (6000-6998) require department, division, and project with all transactions. Customer dimension is optional. ✑ Revenue accounts (4000-4999) require department and division and allow project and customer dimensions. ✑ Liability accounts (2000-2999) should not have any dimensions posted. ✑ Expense account (6999) requires department, division, project and customer dimensions with all transactions. You need to configure the account structure to meet the requirements. Solution: ✑ Configure two account structures. ✑ For Expense Accounts (6000-6998), configure asterisks in department division, and project. Configure an asterisk and quotations in customer dimension. ✑ For Revenue accounts (4000-4999), configure asterisks in department and division. Configure an asterisk and quotations in project and customer dimensions. ✑ For Expense account (6999), configure asterisks in department division, project, and customer dimensions. ✑ Liability accounts (2000-2999) are in the second account structure with no following dimensions. Does the solution meet the goal?
A. Yes
B. No
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A company manufactures air filtering units for industrial manufacturing plants. During the acquisition of one of the components that is used in the unit an agreement is reached that the $25,000 component will be paid for in the following schedule: ✑ The first payment will be $10,000. ✑ The remaining balance will be distributed equally and due on the 15th of the month for the next three months. You need to configure the system for the payment schedule. What should you do?
A. Use the Specified allocation method.
B. Enter $25,000 in the Amount of Transaction Quantity field.
C. Specify a fixed quantity payment of 5.
D. Set the Fixed allocation method Fixed Amount field for the monthly amount.
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You are the controller of a multi-entity organization that uses the same chart of accounts and fiscal periods across all entities. You use the financial report designer in Dynamics 365 Finance to create, maintain, deploy, and view financial statements. You need to generate consolidated financial statements by using a building block group to aggregate data across companies and financial dimensions. Which three actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
A. Create a column definition and use the period and year to map the appropriate periods for each company.
B. Create a row definition that includes all appropriate accounts in all companies in the rows.
C. Create a column definition that includes a financial dimension column for each company.
D. Create a reporting tree that includes a reporting node for each company.
E. Use the Reporting Unit field to select the tree and reporting unit for each column.
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You plan to manage delinquent customers by monitoring the collection process in Dynamics 365 Finance. You need to use the Collections list page to monitor the collection process. What must you do first?
A. Set up customer groups.
B. Set up customer pools.
C. Update financials.
D. Age customer balances.
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You are implementing Dynamics 365 Finance. You must configure a more accurate cash flow forecast related to sales tax. The sales tax calculation should be based on the expected transaction amounts and dates. You need to configure the cash flow forecast. Which setup should you use?
A. Bridging accounts
B. Sales forecast defaults
C. Dependent accounts
D. Purchasing forecast defaults
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