MB-340 practice questions
Your role of Systems Administrator includes the management of your company’s Microsoft Dynamics 365 Finance system. The company has eight departments across three divisions. You need to be able to run the trial balance in the following ways: By main account, division, department and cost center. By main account, division and department. By main account and division. You configure financial dimensions for division, department and cost center. What should you do next?
A. Configure three financial dimension sets
B. Configure one financial dimension set
C. Configure one account structure
D. Configure three account structures
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Your role of Systems Administrator includes the management of your company’s Microsoft Dynamics 365 Finance system. A company requirement states that all purchase orders for purchases under $500 must be approved by a line manager. All purchase orders for purchases over $500 must be approved by the Finance Manager. You are configuring workflow process in Dynamics 365 Finance to meet the purchase order approval requirements. You need to configure the permissions in the workflow. Which of the following actions should the `˜originator’ be able to perform?
A. Delegate
B. Complete
C. Start a workflow
D. Approve
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Your role of Systems Administrator includes the management of your company’s Microsoft Dynamics 365 Finance system. The Finance Manager asks you to create a custom financial report. You plan to use Report Designer to configure the report. You need to identify the report components and their purposes. Which component defines the period to use when data is extracted from the financial dimensions?
A. Row definition
B. Column definition
C. Reporting tree definition
D. Report definition
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Your role of Systems Administrator includes the management of your company’s Microsoft Dynamics 365 Finance system. The Finance Manager asks you to create a custom financial report. You plan to use Report Designer to configure the report. You need to identify the report components and their purposes. Which component defines the descriptive lines (for example, salaries or sales) on a report?
A. Row definition
B. Column definition
C. Reporting tree definition
D. Report definition
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You work as a Financial Consultant. You have been hired by a company to manage the Microsoft Dynamics Finance 365 system. The company consists of two legal entities. You need to configure account structures. Which two of the following statements are true?
A. You can create multiple account structures per legal entity.
B. Account structures cannot be reused across multiple legal entities.
C. If you change an account structure, posted transactions are not affected.
D. There is no limit to the number of segments in an account structure.
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You work as a Financial Consultant. You have been hired by a company to manage the Microsoft Dynamics Finance 365 system. You need to configure a journal to use for vendor invoices. You need to determine which journal type to use to post vendor invoices that have been approved to the appropriate ledger accounts. Which journal type should you use?
A. Vendor invoice pool
B. Vendor invoice recording
C. Approval
D. Vendor disbursement
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You work as a Finance Manager for a public sector company. The company uses Microsoft Dynamics 365 Finance. You need to configure fund types. Which three of the following fund types fall under the Governmental Funds fund class? (Choose three)
A. General fund
B. Trust funds
C. Capital project funds
D. Enterprise funds
E. Debt service funds
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A company creates several item costing versions. All new and existing items have costs associated with them. After defining the costs, the company notices the activation date has not been updated. You need to update the items to the current date for activation. What should you do?
A. Set the item cost record status to Active
B. Set the form date to today and leave the item cost record status at Pending
C. Set the item cost record status to Pending
D. Set the cost price and date of price on the released product
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You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system. The company has a main office and eight branch offices. Three more branch offices are currently under construction. You need to ensure that advertising expenses are balanced across the eight branch offices. The advertising costs will be balanced across all eleven branch offices when the three new offices are complete. Which option should you select in the ledger allocation configuration?
A. Fixed percentage
B. Basis
C. Fixed weight
D. Equally
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You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system. You are configuring the system to ensure that when creating sales orders, the sales tax is automatically calculated when an item is added to a sales order line. When testing the configuration, you discover that the sales tax is not calculated for the sales order line. You need to verify the configuration. Which of the following should you check?
A. Ensure that the sales tax code is associated with both the sales tax group and the item sales tax group.
B. Ensure that the sales tax code is associated with the sales tax group but not the item sales tax group.
C. Ensure that the sales tax code is associated with the item sales tax group but not the sales tax group.
D. Ensure that the sales tax code is not associated with either the sales tax group or the item sales tax group.
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You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system. You need to ensure that when creating sales orders, the sales tax is automatically calculated when an item is added to a sales order line. Which two of the following fields must be populated in the sales order line to ensure the sales tax is calculated? (Choose two).
A. Item group
B. Customer sales tax group
C. Item sales tax group
D. Sales tax code
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You work as a Financial Consultant. You have been hired by a company to manage the Microsoft Dynamics Finance 365 system. You need to configure the Microsoft Dynamics Finance system to spread costs from one cost object to one or more other cost objects by applying a relevant allocation base. Which of the following should you configure?
A. Cost allocation policy
B. Cost behavior
C. Cost elements
D. Cost distribution
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A company uses a Microsoft Dynamics 365 Finance. Your role of Systems Administrator includes the management of the Microsoft Dynamics 365 Finance system. The Financial Director wants a way to view the progress of financial closing processes. The solution must provide the ability to view tasks that are past due, remaining tasks for today, tasks that are due today but are blocked because of dependencies, and all remaining tasks for the process. Which of the following should you configure?
A. Financial reports
B. Financial period close workspace
C. Business Process Flow
D. Financial insights workspace
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A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team. You are providing training on the cost accounting module in the Dynamics 365 Finance system. Products, projects, departments, cost center are example of which of the following?
A. Cost elements
B. Cost objects
C. Cost classifications
D. Cost distribution
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A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team. You are providing training on the cost accounting module in the Dynamics 365 Finance system. Which of the following can be primary or secondary?
A. Cost element
B. Cost classification
C. Cost control unit
D. Cost behavior
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