Certification Training for MB-310 Exam Dumps Test Engine [2021]
Nov 17, 2021 Step by Step Guide to Prepare for MB-310 Exam
Exam Overview
The Microsoft MB-310: Microsoft Dynamics 365 Finance exam is available in the English language and the candidates have to pay the fee of $165 to take it. Although Microsoft does not disclose its details, the students can expect between 40 and 60 questions covering a range of topics. The time allowed for the test is 120 minutes.
NEW QUESTION 11
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?
- A. No
- B. Yes
Answer: B
NEW QUESTION 12 
You are asked to configure the method of payments for vendors.
You are viewing an Accounts payable method of payment.
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 13
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to assign the Accountant closing role for the USMF legal entity to an employee named Theresa Jayne.
To complete this task, sign in to the Dynamics 365 portal.
Answer:
Explanation:
See explanation below.
* Navigate to System administration
* Select the 'Accountant Closing
* Click the "Manually assign / exclude users" button
* Select the Theresa Jayne user account and click the "Assign to role" button.
* Click the "Assign organizations" button
* Select the "Grant access to specific organizations" option
* Select the USMF legal entity and click the "Grant" button.
Reference:
https://www.dynamics-tips.com/system-administration/security-roles
NEW QUESTION 14
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 all the bank accounts for the bank statement files, and then upload all files
- B. Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file
- C. Select Account reconciliation on the bank account form
- D. Import bank statements from the Data management workspace
- E. Navigate to Import statement on the Bank Statements page of Cash and Bank Management
Answer: B,C,E
Explanation:
Section: Set up and configure financial management
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cash-bank-management/reconcile- bank-statements-advanced-bank-reconciliation
NEW QUESTION 15
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 16
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 task areas and descriptions.
- B. Assign a ledger calendar to the closing process.
- C. Create a separate closing schedule for every legal entity.
- D. Create templates that contain the required tasks within the closing process and assign to closing role.
- E. Designate resources and their scope based on closing roles.
Answer: A,D,E
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-period-close-workspace
NEW QUESTION 17
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?
- A. No
- B. Yes
Answer: A
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-overview-configuration
NEW QUESTION 18
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?
- A. when the system needs to automatically post a transaction to the accounts receivable account on invoice posting
- B. when financial dimensions need to default from the vendor record onto an invoice
- C. when only certain dimensions are allowed to post with certain mam account combinations
- D. when creating multiple balanced ledger entries based on transaction types or accounts
Answer: A
NEW QUESTION 19
A company is using vendors to produce components for its products.
Journal types are not configured to support vendor invoices-
You need to identify and configure journals to use for vendor invoices.
Which journal types should you use? To answer, select the appropriate options in the answer area, NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
NEW QUESTION 20
A company needs to create budget plan templates for its budgeting process.
You need to create the budget plan templates.
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.
Answer:
Explanation:
NEW QUESTION 21
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 22
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.
Answer:
Explanation:
See explanation below.
Explanation
Look at the monthly and annual accrual scheme settings. Create a quarterly accrual scheme with the same settings by using the following instructions:
* Go to Navigation pane > Modules > General ledger > Journal setup > Accrual schemes.
* Select New.
* In the Accrual identification field, type a value.
* In the Description of accrual scheme field, type a value.
* In the Debit field, specify the desired values. The main account defined will replace the debit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions.
* In the Credit field, specify the desired values. The main account defined will replace the credit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions.
* In the Voucher field, select how you want the voucher determined when the transactions are posted.
* In the Description field, type a value to describe the transactions that will be posted.
* In the Period frequency field, select how often the transactions should occur.
* In the Number of occurrences by period
* In the Post transactions field, select when the transactions should be posted, such as Monthly.
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/create-accrual-schemes
NEW QUESTION 23
You work for a company that receives invoices in foreign currencies.
You need to configure the currency exchange rate providers and exchange rate types.
What should you do?
- A. Use a developer to write the XML key values code to configure the currency exchange rate providers.
Then, use the provider for importing a currency exchange rate type. - B. Use a developer to write the HTML key values code to configure the currency exchange rate providers.
Then, use the provider for importing a currency exchange rate type. - C. Select the appropriate HTML key values from the available exchange rate providers. Then, use the provider for importing one currency exchange rate type.
- D. Configure exchange rate provider, create exchange rate type, and import the currency exchange rates.
Answer: D
Explanation:
Section: Manage and apply common processes
Explanation
Explanation/Reference:
References:
https://community.dynamics.com/365/financeandoperations/b/365operationsbysandeepchaudhury/posts/ configure-currency-exchange-rate-providers-and-import-exchange-rates-automatically-in-dynamics-365-for- finance-and-operations
NEW QUESTION 24
A company plans to use Dynamics 365 for Finance and Operations. You need to configure basic budgeting.
Which set of actions must you perform?
Which set of actions must you perform?
- A. Option D
- B. Option B
- C. Option A
- D. Option C
Answer: A
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/basic-budgeting-overview
NEW QUESTION 25
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?
- A. when the system needs to automatically post a transaction to the accounts receivable account on invoice posting
- B. when financial dimensions need to default from the vendor record onto an invoice
- C. when creating multiple balanced ledger entries based on transaction types or accounts
- D. when only certain dimensions are allowed to post with certain main account combinations
Answer: A
NEW QUESTION 26
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?
- A. Select payment reference
- B. Select Deposit slip
- C. Select bank transaction type
- D. Select Payment ID
Answer: A
NEW QUESTION 27
You need to recommend a solution to prevent User3's issue from recurring.
What should you recommend?
- A. Configure automatic charge codes.
- B. Configure a sales order template.
- C. Create a service item.
- D. Create a procurement category.
Answer: A
Explanation:
Explanation/Reference:
Manage budgeting and fixed assets
Question Set 1
NEW QUESTION 28
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.
Answer:
Explanation:
Explanation
NEW QUESTION 29
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.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/configure-account-structures
NEW QUESTION 30
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:
Explanation
NEW QUESTION 31
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?
- A. Fixed percentage
- B. Basis
- C. Fixed weight
- D. Equally
Answer: B
Explanation:
Section: Topic 1, Set up and configure financial management
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/ledger-allocation- rules
NEW QUESTION 32
You are setting up a budget plan to accurately portray the projected budget for a company.
You need to select the appropriate allocation method for data distribution.
Which allocation methods should you use? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-allocation
NEW QUESTION 33
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?
- A. Configure budget appropriations
- B. Configure advanced ledger entries
- C. Configure combined deposit amounts
- D. Configure general ledger year-end close
Answer: C
Explanation:
Section: Topic 1, Set up and configure financial management
NEW QUESTION 34
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