[Mar-2024] MB-310 Certification with Actual Questions from DumpsTests
Updated MB-310 Dumps PDF - MB-310 Real Valid Brain Dumps With 235 Questions!
The MB-310 exam covers a wide range of topics, including financial management, accounts payable and receivable, budgeting, cash management, and financial reporting. Candidates are expected to have a thorough understanding of these concepts and be able to apply them in real-world scenarios. Additionally, the exam also covers topics such as project management, supply chain management, and inventory management.
Microsoft MB-310 Exam is an essential step for those who want to become Microsoft Dynamics 365 Finance Functional Consultants. Passing this certification exam validates the candidate's ability to design, configure, and implement finance and accounting solutions in Dynamics 365. Candidates who are interested in taking MB-310 exam should have a strong background in finance and accounting and should be familiar with Dynamics 365 Finance.
NEW QUESTION # 43
A company implemented Dynamics 365 Finance less than The following business rules must be implemented to
* Operations must be allowed to exceed budge
* Marketing must receive warnings when the)
* Sales must not exceed its budget.
* All departments must have a calculation in in place to determine what they can spend.
* Budget funds do not need to be recorded in the general ledger.
You need to configure budget controls.
Which configuration option should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one points.
Answer:
Explanation:
NEW QUESTION # 44
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:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/configure-account-structures
NEW QUESTION # 45
A company has many customers who are not paying invoices on time.
You need to use the collection letter functionality to manage customer delinquencies.
What are two possible ways to achieve the goal? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
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- A. Delete the collection letters after posting when an error occurs.
- B. Post the collection letters.
- C. Print all of the collection letters.
- D. Cancel the collection letters after they are created and posted.
Answer: B,C
Explanation:
Reference:
http://d365tour.com/en/microsoft-dynamics-d365o/finance-d365fo-en/collection-letters/
NEW QUESTION # 46
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. Designate resources and their scope based on closing roles.
- B. Create task areas and descriptions.
- C. Create templates that contain the required tasks within the closing process and assign to closing role.
- D. Assign a ledger calendar to the closing process.
- E. Create a separate closing schedule for every legal entity.
Answer: A,B,C
Explanation:
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-period-close-workspace
NEW QUESTION # 47
A company implements baste budgeting functionality in Dynamics 365 Finance in multiple departments that belong to the same legal entity. Managers must be able to identify and track budgets by department You need to configure the system. What should you configure?
- A. Budget entries workflows
- B. Budget transfer rules
- C. Budget model with sub-model
- D. Budget codes and budget types
Answer: C
NEW QUESTION # 48
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 # 49
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.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules
NEW QUESTION # 50
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.
Answer:
Explanation:
1 - fixed/variable/semi variable
2 - machine houre/kilowatt hours/square footage
3 - products/projects/departments/cost center
4 - primary/secondary
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cost-accounting/terms-cost-accounting
NEW QUESTION # 51
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.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/create-vendor-payments-payment-prop
NEW QUESTION # 52
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.
Answer:
Explanation:
NEW QUESTION # 53
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.
Answer:
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/public-sector/tasks/set-up-derived-fi
NEW QUESTION # 54
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-allo
NEW QUESTION # 55
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.
Answer:
Explanation:
NEW QUESTION # 56
You are the purchase manager of an organization. You purchase a laptop for your office for $2,000. You plan to create a purchase order and acquire the new fixed asset through the purchase order at time of invoicing.
You set up the system as follows: Fixed assets are automatically created during product receipt or vendor invoice posting and the capitalization threshold for the computers group (COMP) is set to $1,600.
You need to automatically create a fixed asset record when you post an acquisition transaction for the asset after you post the invoice.
How should you configure the fixed asset parameters to meet the criteria? To answer, select the appropriate option in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 57
You need to configure credit card processing for all three companies
Which option should you use? To answer, select the appropriate options m the answer area NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 58
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.
Answer:
Explanation:
1 - Set up main accounts and ledger posting groups for sales tax.
2 - Set up sales tax authorities and sales tax settlement periods.
3 - Set up sales tax coded.
4 - Set up sales tax groups and itme sales tax groups.
5 - Set up sales tax parameters on the application parameter pages.
NEW QUESTION # 59
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?
- A. Train users to select the Validate button in the current journal configuration so that the correct account and dimension combination is used.
- B. Associate the correct main accounts to that financial dimension on the financial dimension setup form.
- C. Configure the account structure to specify which financial dimensions are valid for which main accounts.
- D. Configure financial dimension sets to limit which financial dimensions are valid for which main accounts.
Answer: C
Explanation:
Section: Set up and configure financial management
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/configure-account- structures
NEW QUESTION # 60
You need to identify the root cause for the error that User5 is experiencing.
What should you check?
- A. Fixed asset depreciation profiles
- B. Fixed asset determination rules
- C. Fixed asset books
- D. Fixed asset posting profiles
- E. Fixed asset rules
Answer: B
Explanation:
Topic 1, Munson's Pickles and Preserves Farm
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. However, 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:
* BUILD-100
* 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.
NEW QUESTION # 61
You need to recommend a solution to prevent User3's issue from recurring.
What should you recommend?
- A. Configure a sales order template.
- B. Create a service item.
- C. Configure automatic charge codes.
- D. Create a procurement category.
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Answer: C
NEW QUESTION # 62
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