[Dec-2021] Use Real MB-310 Dumps Free Sample Questions and Practice Test Engine
Pass Microsoft MB-310 exam - questions - convert Tets Engine to PDF
Exam MB-310: Microsoft Dynamics 365 Finance
Candidates for this exam are Functional Consultants who analyze business requirements and translate those requirements into fully realized business processes and solutions that implement industry best practices. Candidates serve as a key resource in implementing and configuring applications to meet business requirements.
Candidates for this exam must have a fundamental understanding of accounting principles and financial operations of businesses including accounts payables and accounts receivables, taxes, costing principles, fixed assets, and budgeting.
Part of the requirements for: Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate
Skills measured
- Implement and manage accounts payable and expenses (10-15%)
- Set up and configure financial management (50-55%)
- The content of this exam will be updated on August 27, 2021. Please download the exam skills outline below to see what will be changing.
- Implement accounts receivable, credit, collections, and revenue recognition (20-25%)
- Manage budgeting and fixed assets (10-15%)
Step 4: Take online courses
The students can also opt to join an online course instead of self-study. There are a lot of online courses available on various platforms. Before you choose one, ensure that you are viewing all its objectives. The good thing with the online courses is that they provide the individuals with all the video materials that are easy to digest. They form a critical part of your entire preparation journey.
NEW QUESTION 25
A company provides employee life insurance to all full-time employees. Employee life insurance policies are paid twice a year to the insurance company.
Transactions for current employees must be recognized in the general ledger twice a month with an employee's pay. Transactions for new employees must be recognized in the general ledger based upon the employee's first pay date.
You need to configure accrual schemes for the new fiscal year.
Which two configurations should you use? (Choose two). Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. For current employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
- B. For new employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
- C. For new employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
- D. For current employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
Answer: A,D
Explanation:
Section: Topic 1, Set up and configure financial management
NEW QUESTION 26
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 tasks can this vendor perform?
- A. View and modify contact person information, such as the person's title, email address, and telephone number.
- B. Activate or inactivate the association between a contact person and a vendor account.
- C. Delete any contact person that they have created.
- D. View consignment inventory.
Answer: D
Explanation:
Note:
There are several versions of this question in the exam. The question has two possible correct answers:
1. View consignment inventory.
2. Maintain vendor collaboration invoices.
Other incorrect answer options you may see on the exam include the following:
1. Add a new or existing contact person to the vendor accounts that they are a contact for.
2. Request a new user account for a contact person by using the Provision user action.
3. Deny or allow a contact person's access to documents on the vendor collaboration interface that are specific to the vendor account.
4. Maintain vendor collaboration invoices.
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/procurement/set-up-maintain- vendor-collaboration
NEW QUESTION 27
You Create a financial dimension set named MA + DEPT+PROJ as shown in the following screenshot. The financial dimension set include the following dimensions:
* Main Account
* Department
* Project
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 28
A client plans to use Dynamics 365 for Finance and Operations for year-end 1099 reporting in the United States. You are viewing a vendor master data record on the 1099 FastTab.
Answer:
Explanation:
Explanation
NEW QUESTION 29
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 rules for budget transfers
* Create budget models
* Define budget codes
* B. Define a budget journal
* Define budgeting parameters and number sequences
* Define budgeting dimensions
* Create budget models and codes
* Setup budget allocation terms
* C. Define budget exchange rate types
* Define budgeting parameters and number sequences
* Define budgeting dimensions
* Create budget models
* Define budget codes
* D. Define a budget journal
* Define budgeting parameters
* Define budgeting dimensions
* Create budget models and codes
* Define number sequences
Answer:
Explanation:
B
Section: Manage budgeting and fixed assets
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/basic-budgeting- overview-configuration
NEW QUESTION 30
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 company is preparing to complete yearly budgets.
The company plans to use the Budget module in Dynamics 365 for Finance and Operations for budget management.
You need to create the new budgets.
Solution: Combine budgets from multiple legal entities to a master budget.
Does the solution meet the goal?
- A. No
- B. Yes
Answer: A
Explanation:
Section: Manage budgeting and fixed assets
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning- overview-configuration
NEW QUESTION 31
A company provides employee life insurance to all full-time employees. Employee life insurance policies are paid twice a year to the insurance company.
Transactions for current employees must be recognized in the general ledger twice a month with an employee's pay. Transactions for new employees must be recognized in the general ledger based upon the employee's first pay date.
You need to configure accrual schemes for the new fiscal year.
Which two configurations should you use? (Choose two). Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. For current employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
- B. For new employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
- C. For new employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
- D. For current employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
Answer: A,D
NEW QUESTION 32
You need to view the results of Fourth Coffee Holding Company's consolidation.
D18912E1457D5D1DDCBD40AB3BF70D5D
Which three places show the results of financial consolidation? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. a financial report run against the Fourth Coffee Holding Company
- B. a trial balance in the Fourth Coffee Holding Company
- C. the consolidations form in Fourth Coffee Holding Company
- D. a trial balance in the company Fourth Coffee
- E. a financial report run against the company Fourth Coffee
Answer: A,B,C
Explanation:
Topic 3, Alpine Ski House
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 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 button to return to the question.
Background
Alpine Ski House has three partially owned franchises and 10 fully owned resorts throughout the United States and Canada. Alpine Ski House's percentage ownership of the franchises is between two and 10 percent.
Alpine Ski House is undergoing an implementation of Dynamics 365 Finance and Dynamics 365 Supply Chain Management to transform their financial management and logistics capabilities across the franchises.
Implementation is complete for Alpine Ski House's corporate offices, two US franchises, and one Canadian franchise. The remaining franchises are in varying stages of the implementation. Two new resort projects are in the budget planning stages and will open in the next fiscal year.
Current environment
Organization and general ledger
* Each franchise is set up as a legal entity in Dynamics 365 Finance.
* Alpine Ski House Corporate uses financial dimensions for their fully owned resorts.
* Each resort is a financial dimension named resort.
* Each fully owned resort has two divisions: marketing and operations.
* Only Profit and Loss account postings require the division dimension.
* Corporate handles the advertising and administration of the fully owned resorts.
* Corporate uses Dynamics 365 Project Management and Accounting to manage construction of new resorts.
Budgeting
* Organizational budgeting is decentralized but rolls up to one organizational corporate budget.
* Each resort manager performs budgeting in Dynamics 365 Finance.
* Budget preparation begins this month. All operational resorts will submit their budgets in two weeks.
Sales and tax
* Sales tax is configured and used by all resorts that operate in the United States.
* You configure one US sales tax vendor account and assign the vendor account to the settlement periods for reporting.
* You use accounts receivable charges to track donations.
Existing purchasing contracts
* Each franchise resort has an individual contract with a local supplier of their choosing to purchase at least $10,000 worth of suppliers during the calendar year.
* The franchise resorts in one US state receive a two percent discount on meat and vegetable purchases in excess of $8,000 per year.
* A franchise resort in Utah has agreed to purchase 1,000 units of beef at market price from a local supplier.
* Alpine Ski House uses a vendor collaboration portal to track purchase orders and requests for quotes.
* Vendors request access to the vendor collaboration portal by using a workflow which runs on a nightly schedule.
Intercompany setup
Vendor123 resides in US franchise Company1 and is set up for intercompany transactions. Customer345 resides in Canada franchise Company1 and is set up for intercompany transactions.
Requirements
Franchises
* Each franchise must pay two percent of monthly sales to Alpine Ski House Corporate.
* Each franchise must report their own financials to Alpine Ski House Corporate monthly.
* US franchises require a three-way-match on all purchases, with a 1-percent price tolerance.
* Canadian franchises require a three-way-match on all purchases except paper products, which have a
10-percent price tolerance.
Corporate
* Advertising costs must be balanced across the 10 resorts monthly. These costs must be split across the
12 resorts once construction of the final two resorts is completed.
* Administration costs must be split across the 10 resorts proportional to the amount of sales generated.
* One percent of all pack and individual ski pass sales must be donated quarterly to an environmental protection organization.
* The finance department must be able to see purchasing contracts and discounts for vendors based on volume spend.
Employees
All employee expense reports that contain the word must be reviewed for the audit purposes. If a journal is posted incorrectly, the entire journal and not just the incorrect line must be fully reversed for audit purposes.
Resorts
All resorts must use Dynamics 365 Finance for budgeting and must first be approved by the regional manager.
Purchased fixed assets must automatically be acquired at product receipt.
Issues
* User1 reports that irrelevant dimensions display in the drop down when entering a General journal.
* User2 reports that dimension 00 is being used for all balance sheet accounts.
* User3 tries to generate the quarterly sales tax liability payment for a specific state but does not see any payables available for that state's vendor.
* User4 receives a call from a vendor who cannot access the vendor collaboration portal but needs immediate access.
* User5 notices a large amount of entertainment expenses being posted without an audit review.
* User6 needs to have visibility into the increase in budget that is necessary to staff the two new resorts opening next year.
* User7 needs to use Dynamics 365 Finance for situational budgeting planning with the ability to increase and decrease the existing plans by certain percentages.
* User8 made a mistake while posting a 1,000-line journal and reverses the entire journal but cannot find the lines that included errors during the reversal.
* User9 made a mistake while posting a 55-line journal and reverses the entire journal.
* User10 realizes that the purchase of five new computers did not acquire five new fixed assets upon receipt.
NEW QUESTION 33
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 34
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to automate the allocation of a prepaid expense of 2 percent of all product sales. The allocation must be posted to account number 222222.
To complete this task, sign in to the Dynamics 365 portal.
Answer:
Explanation:
See explanation below.
Explanation
You need to configure a prepayment percentage for all items. The instructions below are for a single item. For this question, you need to select 'All' for all items, enter 2 in the percentage field and select account number
222222 in the account field.
To set up prepayment percentages for items, customers, and vendors
For an item, you can set up a default prepayment percentage for all customers, a specific customer, or a customer price group.
1. Choose the icon, enter Items, and then choose the related link.
2. Select an item, and then choose the
3. On the Sales Prepayment Percentages page, fill in the fields as necessary. Hover over a field to read a short description.
Reference:
https://docs.microsoft.com/en-gb/dynamics365/business-central/finance-set-up-prepayments
NEW QUESTION 35
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 a separate closing schedule for every legal entity.
- B. Create task areas and descriptions.
- C. Create templates that contain the required tasks within the closing process and assign to closing role.
- D. Designate resources and their scope based on closing roles.
- E. Assign a ledger calendar to the closing process.
Answer: B,C,D
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-period-close-workspace
NEW QUESTION 36
You need to configure the system to meet the budget preparation requirements.
What should you do? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION 37
You are implementing a Dynamics 365 for Finance and Operations General ledger module for a client that has multiple legal entities.
The client has the following requirements:
* Post journal entries for all companies from one legal entity.
* Configure automatic creation of due to/due from transactions based on when LegalEntityA transacts with LegalEntityB.
* Automatically split the dollar amount in half between DimensionA and DimensionB when the journal is posted.
* Set up fixed or variable allocations, and then review the allocations in a journal before posting,
* Automatically post year-end results to account 30016 during year-end close.
You need to configure the system.
Which system capability should you configure? To answer, select the appropriate configuration in the answer area.
Answer:
Explanation:
NEW QUESTION 38
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 Account reconciliation on the bank account form
- B. Navigate to Import statement on the Bank Statements page of Cash and Bank Management
- C. Import bank statements from the Data management workspace
- D. Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file
- E. Select all the bank accounts for the bank statement files, and then upload all files
Answer: A,B,D
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cash-bank-management/reconcile-bank-statements-advanced-bank-reconciliation
NEW QUESTION 39
You need to prevent the issue from reoccurring for User5.
What should you do?
- A. Set up the sampling query type for entertainment expenses.
- B. Set up the aggregate query type for entertainment expenses.
- C. Use the audit list search query type.
- D. Add more keywords to the audit policy.
Answer: D
Explanation:
Explanation/Reference:
Manage budgeting and fixed assets
Question Set 1
NEW QUESTION 40
......
Pass Your MB-310 Exam Easily - Real MB-310 Practice Dump Updated Dec 17, 2021: https://www.dumpstorrent.com/MB-310-exam-dumps-torrent.html
2021 Realistic Verified Free Microsoft MB-310 Exam Questions : https://drive.google.com/open?id=1uVT6U20HJxg-suw0l2P-FlnXFDB9EOwu