UPDATED [2023] Pass Microsoft MB-310 Exam in First Attempt Guaranteed
Pass MB-310 Exam Latest Practice Questions
Earning the MB-310 certification demonstrates a professional's expertise in implementing and supporting Finance and Accounting applications using Microsoft Dynamics 365 Finance. It also validates the professional's skills in configuring and customizing the Finance and Accounting modules to meet the specific needs of an organization. Microsoft Dynamics 365 Finance Functional Consultant certification is globally recognized and can help professionals advance their career in the field of Finance and Accounting.
NEW QUESTION # 80
A company has delinquent customers.
You need to configure Dynamics 365 for Finance and Operations to meet the following requirements:
* Send communication to the customers detailing their past-due invoices.
* Use the system to automatically calculate a late charges,
* Create a group of customers for a collection agent to monitor.
* View a list of customers with colored indicators of a customer's payment status.
You need to associate the correct system functionality to manage delinquent customers based on these business requirements.
Answer:
Explanation:
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/tasks/review-collections-information
NEW QUESTION # 81
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.
Answer:
Explanation:
NEW QUESTION # 82
A client is implementing Accounts payable. The client wants to establish three-way matching for 100 of their
5,000 stocked items from a specific vendor.
The client requires the ability to have items that require only two-way matching and specific items that require three-way matching.
You need to configure the system in the most efficient manner to achieve these requirements.
What should you do?
- A. Configure a company matching policy of two-way matching and specify the vendors that require a three-way match.
- B. Configure a company matching policy of two-way matching and specify the items that require a three-way match.
- C. Configure a company matching policy of two-way matching and set the matching policy for specific item, and vendor combination level to three-way matching.
- D. Configure a company matching policy of a three-way match.
- E. Configure a company matching policy of non-required and specify the items that require a three-way match.
Answer: C
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-payable/tasks/set-up-accou
NEW QUESTION # 83
You need to configure invoice validation for vendors in Dynamics 365 for Finance and Operations. You are viewing the Accounts payable parameter for Invoice validation.
Answer:
Explanation:
NEW QUESTION # 84
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?
- A. No
- B. Yes
Answer: A
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination
NEW QUESTION # 85
A company configures Dynamics 36S Finance to collect and report sales tax horn customers. The company calculates the sales tax amount needed to pay a vendor for taxable items and expenses.
The company is required by law to accrue and pay use tax. You add a new vendor in an existing, region.
You need to configure the system to accrue use tax for the new vendor.
Which three actions should you take? Each correct answer presents part of the solution.
NOTL Each coned selection is worth one pant.
- A. Create a new tax authority for the use tax.
- B. Create a new settlement period for the use tax.
- C. Create a new tax group for the use tax.
- D. Create a new tax code for the use tax.
- E. Add a tax code to the item sales tax group.
- F. Add a tax code to the tax group with the use tax option set to Yes.
- G. Configure the use tax payable for the main account into the ledger posting group.
Answer: C,E,G
NEW QUESTION # 86
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 two account structures: one for expense accounts and include applicable dimensions, and one for balance sheet and exclude financial dimensions.
Does the solution meet the goal?
- A. Yes
- B. No
Answer: A
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/configure-account-structures
NEW QUESTION # 87
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 creating one offset ledger entry based on transaction type
- B. when the system needs to automatically post a transaction to the accounts receivable account on invoice posting
- C. when using encumbrance accounting for purchase orders
- D. when financial dimensions need to default from the main account onto an invoice
Answer: C
Explanation:
Section: Topic 1, Set up and configure financial management
Explanation
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/posting-definitions
NEW QUESTION # 88
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.
Answer:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules
NEW QUESTION # 89
You are creating a budget for an organization.
The organization requires that allocations be performed automatically as part of budget planning.
You need to invoke allocations at a specific budget planning stage.
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.
Answer:
Explanation:
1 - Create an allocation schedule on the Budget planning configuration page
2 - Create a stage allocation on the Budget planning configuration page
3 - Add an automated task for budget planning storage allocation at the desired workflow stage Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-allocation
NEW QUESTION # 90
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.
Answer:
Explanation:
1 - In each legal entity, configure an intercompany main account for Due to/........
2 - In each legal entity, configure a journal name and set the Journal type to Daily.
3 - Determine which legal entity will receive the accounting for supporting amounts.
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/intercompany-accounting-setup
NEW QUESTION # 91
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?
- A. Accounts payable, Accounts receivable, Bank, Budget, Payroll, and Purchasing
- B. Accounts payable, Accounts receivable, Fixed assets, Payroll, and Purchasing
- C. Accounts payable, Accounts receivable, Budget, and Fixed assets
- D. Accounts payable, Bank, Budget, Fixed assets, and Payroll
Answer: A
Explanation:
Section: Set up and configure financial management
Explanation
NEW QUESTION # 92
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 # 93
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 for Finance and Operations.
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 in to 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' option to Close All.
* Set future Ledger periods to a status of On Hold.
Does the solution meet the goal?
- A. No
- B. Yes
Answer: A
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/year-end-close
NEW QUESTION # 94
You are asked to configure foreign currency revaluation in Dynamics 365 for Finance and Operations. You are viewing the main accounts,
Answer:
Explanation:
Explanation
NEW QUESTION # 95
A client wants Dynamics 365 Finance to calculate sales tax on a sales order line once an item is added. The sales tax group is already populated with a value.
You need to ensure that the sales tax will calculate.
Which field should you populate?
- A. item group
- B. customer address
- C. item sales tax group
- D. sales tax code
Answer: C
Explanation:
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/indirect-taxes-overview
NEW QUESTION # 96
You need to configure an Accounts payable charge for freight for a company. The company requires that the system include the freight invoice to be paid to the vendor and record the expense in main account 600120 - Freight In.
Answer:
Explanation:
NEW QUESTION # 97
You are configuring the Fixed assets module for a Dynamics 365 Finance and Operations environment, You need to set up the basic configuration to create a fixed asset Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. the name
- B. the type
- C. the number sequence
- D. the group
- E. the property type
Answer: A,C,D
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/fixed-assets/tasks/create-fixed-asset
NEW QUESTION # 98
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 # 99
A company manufactures air filtering units few industrial manufacturing plants.
During the acquisition of one of the components that is used in the unit, an agreement is reached that the $25. 000 component mil be paid for in the following schedule:
* The first payment will be $10,000
* The remaining balance will be distributed equally and due on the 15m of the month for the next three months. You need to configure the system for the payment schedule.
What should you do?
- A. Specify a fixed quantity payment of 5.
- B. Enter $25,000 in the Amount of Transaction Quantity field.
- C. Set the Fixed allocation method Rued Amount field lot the monthly amount.
- D. Use the Specified allocation method.
Answer: C
NEW QUESTION # 100
......
Microsoft MB-310 certification exam is an excellent opportunity for finance professionals who use Dynamics 365 Finance to validate their knowledge and skills. Passing MB-310 exam can enhance your career prospects and open up new opportunities for advancement. With the right preparation and study materials, you can pass the exam and earn the Microsoft Dynamics 365 Finance Functional Consultant certification.
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