Updated MB-310 Dumps Online For Microsoft Dynamics 365 Finance Exam

1. Topic 1, Fourth Coffee Case Study

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 . 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 Next 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

Question button to return to the question.

Background

Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively.

Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance environment to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes.

The current organizational chart is shown below:

Current environment

Systemwide setup

* Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials.

* All companies share a Chart of Accounts.

* Two dimensions are used: Department and Division.

* Budgeting is controlled at the department level.

* Customers and vendors are defined as two groups: Domestic and International.

* Mandatory credit check is set to No.

* Consolidate online is used for the consolidation of all companies.

* International main accounts are subject to foreign currency revaluation.

* The purchasing budget is used to enforce purchasing limits.

General ledger accounts

Fourth Coffee

* The base currency is USD.

* Three item groups are used: coffee, supplies, and nonstock.

* The standard sales tax method is used.

* Acquiring fixed assets requires a purchase order.

* All customer payment journals require a deposit slip.

* CustomerX is a taxable company.

* CustomerY is a tax-exempt company.

* CustomerZ is a taxable company.

* VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group.

* VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group.

* VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group.

CompanyA

* The base currency is USD.

* It consists of a marketing department and a digital division.

* A 4-5-4 calendar structure is used.

* The standard sales tax method is used.

CompanyB

* The base currency is CAD.

* The conditional sales tax method is used. Requirements

Reporting

* A consolidated Fourth Coffee financial report is required in USD currency.

* Fourth Coffee and its subsidiaries need to be able to report sales by item type.

* Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments.

Issues

* User1 observes that a General journal was used in error to post to the Domestic Accounts

Receivable trade account.

* User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division.

* When User3 posts an Accounts receivable payment journal, a deposit slip is not generated.

* User4 observes an increase in procurement department expenses for supplies.

* User5 observes that sales tax is not calculating on a sales order for CustomerZ.

* User6 observes that sales tax is calculating for CustomerY.

* User7 observes that the sales tax payment report is excluding posted invoice transactions.

* User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form.

* User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets.

* CustomerX requires a credit check when making a purchase and is currently at their credit limit.

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.

2. You need to determine why CustomerX is unable to confirm another sales order.

What are two possible reasons? Each answer is a complete solution. NOTE: Each correct selection is worth one point.

3. HOTSPOT

You need to configure settings to resolve User1’s issue.

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

4. You need to ensure that User9's purchase is appropriately recorded.

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

5. HOTSPOT

You need to prevent a reoccurrence of User2’s issue.

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

6. You need to configure settings to resolve User8’s issue.

What should you select?

7. 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.

8. You need to configure the system to resolve User8's issue.

What should you select?

9. HOTSPOT

The posting configuration for a purchase order is shown as follows:

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.

10. 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.

11. You need to troubleshoot the reporting issue for User7.

Why are some transactions being excluded?

12. 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.

13. You need to recommend a solution to prevent User3's issue from recurring.

What should you recommend?

14. 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.

15. You need to configure system functionality for pickle type reporting.

What should you use?

16. You need to identify the root cause for the error that User5 is experiencing.

What should you check?

17. 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.

18. 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 . 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.

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.

19. DRAG DROP

You need to configure the system to for existing purchasing contracts.

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

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

What should you do?

21. HOTSPOT

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.

22. 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?

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

What should you do?

24. Topic 4, Misc. Questions

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 has one legal entity, two departments, and two divisions. The client is implementing Dynamics 365 Finance. The departments and divisions are set up as financial dimensions.

The client has the following requirements:

✑ Only expense accounts require dimensions posted with the transactions.

✑ Users must not have the option to select dimensions for a balance sheet account.

You need to configure the ledger to show applicable financial dimensions based on the main account selected in journal entry.

Solution: Configure default financial dimensions on expense accounts only.

Does the solution meet the goal?

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

What should you do?

26. HOTSPOT

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

You are viewing the main accounts.

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.

27. An organization is upgrading to Dynamics 365 Finance.

One of the organization's legal entities needs to have different main accounts for a period of six months.

You need to configure the legal entity override dates.

Which two actions can you perform? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

28. A company plans to use Dynamics 365 Finance to calculate sales tax on sales orders.

You need to automatically calculate sales tax when the sales order is created.

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

29. 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.

30. 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?

31. 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?

32. HOTSPOT

A client is using Dynamics 365 Finance for sales order processing and accounts receivable. The client has two customer groups and two Accounts receivable trade accounts. Foreign customers in Group 80 are assigned to account 12001. Domestic customers in Group 40 are assigned to account 12000.

You are viewing the client's current setup of Customer posting profiles.

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.

33. 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.

34. 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 customer uses Dynamics 365 Finance. The customer creates a purchase order for purchase $20,000 of office furniture.

You need to configure the system to ensure that the funds are reserved when the purchase order is confirmed.

Solution: Set up posting definitions for purchase requisitions.

Does the solution meet the goal?

35. 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.

36. HOTSPOT

You are creating a payment proposal that shows invoices that are eligible to be paid.

You display the Accounts payable Payment proposal screen from the Accounts payable payment journal.

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.

37. 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?

38. HOTSPOT

A client is implementing the Budgeting module in Dynamics 365 Finance.

You need to configure the correct budget control area to meet the client's requirements.

✑ Track budgeting control on purchase requisitions.

✑ Include unposted actual transactions in the calculation of the remaining budget for the period.

✑ Allow specific individuals to post transactions that exceed the budget.

✑ Specify main accounts that are subject to budget control, instead of selecting Main account as a dimension for budgeting.

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

39. HOTSPOT

You need to set up legal entity currencies and conversions in Dynamics 365 Finance.

You review the hierarchy for consolidation of multiple legal entities.

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.

40. You are the accounts receivable manager of an organization. The organization recently sold machinery to a customer. You need to registers transaction for the sale of the machinery by using a free text invoice for fixed assets.

Which transaction type should you use?

41. 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?

42. DRAG DROP

An organization sells monthly service subscriptions. The organization sends invoices to customers on the 15th of every month in the amount of $450.00.

You need to set up, configure, and process recurring free text invoices for the customers.

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.

43. HOTSPOT

You must configure journal controls in Dynamics 365 for Finance and Operations.

Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic

44. HOTSPOT

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.

45. DRAG DROP

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.

46. HOTSPOT

A client wants to ensure that transactions posted to the General Ledger have the correct combination of account number and dimensions.

The Services Industry P&L Account Structure has the following information:

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.

47. 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?

48. 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 one account structure with department, division, project and customer dimensions.

✑ Configure asterisks in all columns for Expense accounts (6000-6999), Revenue accounts (4000-4999), and Liability accounts (2000-2999).

Does the solution meet the goal?

49. HOTSPOT

A rental service company with complex accrual requirements has accrual schemes set up

in its implementation. They want to use defined accrual schemes to perform transactions.

You need to use an accrual scheme to create transactions for this company.

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

50. CORRECT TEXT

You are a functional consultant for Contoso Entertainment System USA (USMF).

You need to implement a quarterly accruals scheme for USMF. The accrual scheme settings must match the settings of the monthly and annual accrual schemes.

To complete this task, sign in to the Dynamics 365 portal.