Elevate Your Preparation with MB-310 Dumps (V22.02): Start with MB-310 Free Dumps (Part 1, Q1-Q40)

1. Topic 3, Alpine Ski House

Case study

Overview

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 . How ever, 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.

The Canadian franchise purchases excess ski equipment from the US franchise. Two sets of skis are purchased totaling USD1,000.

When the purchase invoice is prepared, USD10,000 is keyed in by mistake.

Which configuration determines the result for this intercompany trade scenario?

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 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 Yes.

- Set the Create closing transactions during transfer option to Yes.

- Set the Fiscal year status to permanently closed option to Yes.

- 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 Yes.

- 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?

3. A client uses Dynamics 365 for Finance and Operations 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?

4. HOTSPOT

A company sells goods to a customer. You enter an invoice for the customer on June 25. The invoice is eligible for a cash discount of two percent if it is paid in five days and a discount of one percent if it is paid in 14 days.

You need to create a payment journal when the invoices are settled on specific dates.

Which setup options should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

5. You are configuring the Accounts payable module for a company.

The company needs to set a limit on the charges they will pay for specific items.

You need to set up the limit for charges.

Which two actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

6. You need to view the results of Fourth Coffee Holding Company's consolidation.

Which three places show the results of financial consolidation? Each correct answer presents a complete

solution. NOTE: Each correct selection is worth one point.

7. A client has unique accounting needs that sometimes require posting definitions.

You need to implement posting definitions.

In which situation should you implement posting definitions?

8. Topic 2, Munson’s Pickles and Preserves Farm

Overview

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 .

How ever, 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

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. Finance

- 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.

HOTSPOT

You need to determine the root cause for User1’s issue.

Which configuration options should you check? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

9. HOTSPOT

You need to validate the sales tax postings for Tennessee and Alabama.

Which tax selections meet the requirement? To answer. select the appropriate options in the answer area

NOTE: Each correct selection is worth one point.

10. DRAG DROP

A public sector organization wants to set up the derived financial hierarchy to analyze posted transaction data.

You need to set up the derived financial hierarchy to generate an outgoing electronic document.

In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange item in the correct order.

11. Topic 7, Misc. Questions

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: Create budget plans for multiple scenarios.

Does the solution meet the goal?

12. HOTSPOT

You need to configure currencies for the legal entities.

How should you configure currencies? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

13. You need to prevent the issue from reoccurring for User5.

What should you do?

14. HOTSPOT

You need to configure the fiscal year calendars for each legal entity.

How should you configure the fiscal year calendars? To answer, select me appropriate options in the answer area. NOTE: Each correct selection is worth one point.

15. You need to ensure Trey Research meets the compliance requirement.

Which budget technology should you implement? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point

16. An organization uses Dynamics 365 for Finance and Operations.

Several posted journal entries contain invalid main account and dimension combinations. This leads to incorrect financial reporting.

You need to prevent these invalid combinations.

What should you do?

17. 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?

18. HOTSPOT

You are setting up main accounts in Dynamics 365 for Finance and Operations.

You need to configure the main accounts to meet the requirements.

Which options should you use? To answer, select the appropriate configuration in the answer area. NOTE: Each correct selection is worth one point.

19. HOTSPOT

You are asked to configure foreign currency revaluation in Dynamics 365 for Finance and Operations.

You are viewing the main accounts.

20. HOTSPOT

You are setting up of the process for an expense report approval in Dynamics 365 for Finance and Operations. You need to assign permission for each participant in the workflow approval process to perform their tasks.

Which action can each participant perform? To answer, select the appropriate option in the answer area. NOTE: Each correct selection is worth one point.

21. DRAG DROP

You need to process expense allocations.

Which features should you use? To answer, drag the appropriate features to the correct requirements. Each feature may be used once, more than once, or net 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.

22. DRAG DROP

You are creating a budget for an organization.

The organization requires that allocations be performed automatically as part of budget planning.

You need to invoke allocations at a specific budget planning stage.

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.

23. DRAG DROP

You need to configure recognition.

Which revenue type is associated with the line of business? To answer, drag the appropriate revenue types to the correct lines of business. Each revenue 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.

24. DRAG DROP

A retail company has outlets in multiple locations. Taxes vary depending on the location.

You need to configure the various components of the tax framework.

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.

25. You are configuring the Fixed assets module for a Dynamics 365 Finance and Operations environment,

You need to set up the basic configuration to create a fixed asset Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

26. An organization acquires a building. You need to register-and record the building as an asset building in Dynamics 365 Finance and Operations.

What are three possible ways to achieve the goal? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

27. DRAG DROP

You need to configure ledger allocations to meet the requirements.

What should you configure? To answer, drag the appropriate setups to the correct requirements. Each setup 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.

28. HOTSPOT

A rental service company hires you to configure their system to implement accrual schemes.

You need to configure the accrual schemes for this company.

Which configuration and transaction options should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

29. You need to acquire the fixed assets that are associated with the purchase orders.

What should you do?

30. A client is using the budget planning process in Dynamics 365 for Finance and Operations. Your client requires the ability to plan for a one-year, three-year, and five-year budget. You need to configure the various year length options to be used in the budgeting module.

What should you do?

31. A client has one legal entity and the following four dimensions configured: Business Unit, Cost Center, Department, and Division.

You need to configure the client's system to run the trial balance inquiry in the General ledger module so that it displays the trial balance two ways:

• Include the main account and all four dimensions.

• Include the main account and only the business unit and cost center dimensions.

What should you configure?

32. 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?

33. You need to address the employees issue regarding expense report policy violations.

Which parameter should you use?

34. DRAG DROP

You need to configure the system to meet invoicing requirement.

Which features should you use? To answer, drag the appropriate features to the correct requirements. Each feature 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.

35. You need to adjust the sales tax configuration to resolve the issue for User3.

What should you do?

36. Which configuration makes it possible for User4 to make a purchase?

37. HOTSPOT

You need to configure the expense module for reimbursement.

How should you configure the expense module? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

38. DRAG DROP

You need to assist User3 with generating a deposit slip to meet Fourth Coffee's requirement.

Which five 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. NOTE: More than one order of answer choices is correct. You will receive credit for any of the correct orders you select.

39. 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 Yes.

- Set the Create closing transactions during transfer option to Yes.

- 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?

40. You need to correct the sales tax setup to resolve User5's issue.

Which three actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.