Updated MB-310 Exam Dumps With 100% Passing Guarantee

1. Question Set 1

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 Finance.

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 into 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?

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 Finance.

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 into 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 to Close All.

- Set all prior and future Ledger periods to a status of On Hold.

Does the solution meet the goal?

3. 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 Finance.

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 into 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 No .

- Set the Create closing transactions during transfer option to No .

- 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 to Close All .

- Set all prior and future Ledger periods to a status of On Hold .

Does the solution meet the goal?

4. HOTSPOT

You are implementing a Dynamics 365 Finance 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. NOTE: Each correct selection is worth one point.

5. A company is preparing to complete a year-end close process. You need to configure the Dynamics 365 Finance 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.

6. 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?

7. An organization is setting up a cost accounting. You need to set up fiscal calendars for Dynamics 365 Finance.

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

8. 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.

9. 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?

10. 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.

11. 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.

12. 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.

13. HOTSPOT

A client plans to use the cost accounting module in Dynamics 365 Finance. 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 area. NOTE: Each correct selection is worth one point.

14. An organization uses Dynamics 365 Finance.

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?

15. HOTSPOT

A client plans to use Dynamics 365 Finance 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.

16. 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.

17. You are configuring Dynamics 365 Finance.

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

For which type of transactions can you implement posting definitions?

18. DRAG DROP

You need to set up 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.

19. 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 Finance for cash settlements.

What should you do?

20. 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.

21. 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.

22. 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.

23. DRAG DROP

You are configuring a Dynamics 365 Finance environment for intercompany accounting.

You create the following legal entities:

- CompanyA

- CompanyB

You need to configure intercompany accounting for both legal entities.

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

24. An organization plans to set up intercompany accounting between legal entities within the organization.

Automatic transactions between legal entities must meet the following requirements:

- Provides systemwide integration and streamlining to save time

- Minimizes errors and create an audit trail with full visibility into business activities and transaction histories within the legal entities

You need to set up intercompany accounting and create pairs of legal entities that can transact with each other, clearly defining the originating company and the destination company.

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

25. DRAG DROP

You are a controller in an organization. You are identifying cost drivers to see how changes in business activities affect the bottom line of your organization. You need to assess cost object performance to analyze actual versus budgeted cost and how resources are consumed.

You need to demonstrate your understanding of cost accounting terminology.

Which component maps to the cost accounting terminology? To answer, drag the appropriate component to the correct cost accounting terminology. Each source may be used once. You may need to drag the split bar between panes or scroll to view content. NOTE: Each correct selection is worth one point.