Microsoft MB-310 Dynamics 365 Finance Functional Consultant Dumps

1. 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?

2. 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-pie Budget module in Dynamics 365 for Finance and Operations for budget management

You need to create the new budgets.

Solution: Create budget plans to define the revenues for a budget

Does the solution meet the goal?

3. 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?

4. 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?

5. 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?

6. 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: Set up Elimination rules in the system. Then, run an elimination proposal. Configure the rules to post to any company that has Use for financial elimination process selected in the legal entity setup.

Does the solution meet the goal?

7. A company plans to create a new allocation rule for electric utilities expenses.

The allocation rule must meet the following requirements:

* Distribute overhead utility expense to each department.

* Define how and in what proportion the source amounts must be distributed on various destination lines.

You need to configure the allocation rule.

Which allocation method should you use?

8. HOTSPOT

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.

9. 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? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

10. You are configuring intercompany accounting for a multicompany enterprise.

You need to set up: the Due to and Due from accounts.

Which main account type should you use?

11. An organization is setting up cost accounting.

You need to set up fiscal calendars for Dynamics 365 for Finance and Operations.

What are three uses for fiscal calendars? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

12. 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?

13. A company plans to use Dynamics 365 for Finance and Operations.

You need to configure basic budgeting.

Which set of actions must you perform?

14. HOTSPOT

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.

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.

15. 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?

16. 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.

17. DRAG DROP

You need to setup a process of tracking, recording, and analyzing costs associated with the products or activities of a nonmanufacturing organization.

You need to configure the prerequisite setup for the standard costing version for the current period.

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.

18. DRAG DROP

You are a Dynamics 365 Finance and Operations functional consultant A legal entity processes and settles vendor payments: on behalf of other legal entities in an organization.

You need to configure the centralized payment flow for the legal entity.

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.

19. 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.

20. A company is preparing to complete a year-end close process.

You need to configure the Dynamics 365 for Finance and Operations General ledger module.

Which three configurations must you use? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

21. HOTSPOT

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.

22. A public sector company is configuring encumbrance for managing capital budgets. The finance department needs to configure posting definitions for bank transactions. You need to configure Dynamics 365 for Finance and Operations for cash settlements.

What should you do?

23. A legal entity has locations and customers in multiple states within the United States.

You need to ensure that taxable customers are charged sales tax for taxable items in their delivery location.

Which three settings must you configure? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

24. You are configuring Dynamics 365 for Finance and Operations,

You need to implement posting definitions for all available transaction types.

For which type of transactions can you implement posting definitions?

25. HOTSPOT

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.

26. 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.