Updated MB-310 Dumps Questions Are Available [2024] For Passing Microsoft Exam
Free UPDATED Microsoft MB-310 Certification Exam Dumps is Online
Microsoft Dynamics 365 Finance Functional Consultant Certification Exam (MB-310) is a valuable certification for financial professionals, consultants, and developers. Microsoft Dynamics 365 Finance Functional Consultant certification exam validates the candidate's knowledge and skills in using Microsoft Dynamics 365 Finance and Operations applications for financial management. MB-310 exam is rigorous and requires extensive preparation and study, but passing the exam will enhance the candidate's career prospects and demonstrate their expertise in finance-related tasks.
NEW QUESTION # 56
You need to prevent prohibited expenses from posting.
Which configurations 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 # 57
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 # 58
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:
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cost-accounting/terms-cost-accounting
NEW QUESTION # 59
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:
Explanation
NEW QUESTION # 60
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. Configure financial dimension sets to limit which financial dimensions are valid for which main accounts.
- B. Associate the correct main accounts to that financial dimension on the financial dimension setup form.
- C. Train users to select the Validate button in the current journal configuration so that the correct account and dimension combination is used.
- D. Configure the account structure to specify which financial dimensions are valid for which main accounts.
Answer: A
NEW QUESTION # 61
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 # 62
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.
Answer:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/supply-chain/procurement/tasks/create-purchase-agreement
NEW QUESTION # 63
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 codes.
4 - Set up sales tax groups and item sales tax groups.
5 - Set up sales tax parameters on the application parameter pages.
NEW QUESTION # 64
You are setting up of the process for an expense report approval in Dynamics 365 for Finance and Operations. You need to assign permission for each participant in the workflow approval process to perform their tasks. Which action can each participant perform? To answer, select the appropriate option in the answer are a. NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/fin-and-ops/organization-administration/workflow-actions
NEW QUESTION # 65
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.
Answer:
Explanation:
NEW QUESTION # 66
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? (Choose two). Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. For new employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
- B. For current employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
- C. For new employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
- D. For current employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
Answer: B,D
Explanation:
Section: Topic 1, Set up and configure financial management
NEW QUESTION # 67
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 # 68
You are setting up the Accounts payable module and vendor invoice policies for an organization.
You need to set up vendor invoice policies that run when vendor invoices are posted in the system.
In which two ways can you set up the policies? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. Configure the vendor invoice workflow to run the policies.
- B. Set up invoice matching validation for vendor invoice policy.
- C. Apply the policies to invoices that were created in the invoice register or invoice journal.
- D. Run the policies when you post a vendor invoice by using the Vendor invoice page and when you open the Vendor invoice policy violations page.
Answer: A,D
Explanation:
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/key-tasks-vendor-invoice-policies
NEW QUESTION # 69
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.
- A. Set the new fixed asset toggle to yes at the line level.
- B. Select a financial dimension at the line level.
- C. Enter three purchase order lines, enter quantity of 1.
- D. Enter one purchase order line, enter quantity of 3.
- E. Select a fixed asset group at the line level.
Answer: A,C,E
NEW QUESTION # 70
A client confirms a safes order in Dynamics 365 for Finance and Operations. You are viewing the confirmed sales order.
Answer:
Explanation:
NEW QUESTION # 71
An organization is setting up cost accounting.
You need to set up fiscal calendars for Dynamics 365 for Finance and Operations.
What are three uses for fiscal calendars? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. financial transactions
- B. standard work hours
- C. budget cycles
- D. fixed asset depreciation
- E. shift work hours
Answer: A,C,D
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/fiscal-calendars-fiscal-ye
NEW QUESTION # 72 
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:
NEW QUESTION # 73
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: Combine budgets from multiple legal entities to a master budget.
Does the solution meet the goal?
- A. Yes
- B. No
Answer: B
NEW QUESTION # 74
You are implementing Dynamics 365 Finance. A new product is being released.
The system must track the probability of the new product by cost center and you must use the cost control workspace.
You need to configure the system.
Which option should you use? To answer, drag the appropriate option to the correct requirement. Each value 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:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cost-accounting/terms-cost-accounting
NEW QUESTION # 75
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. Import bank statements from the Data management workspace
- C. Navigate to Import statement on the Bank Statements page of Cash and Bank Management
- D. Select Account reconciliation on the bank account form
- E. Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file
Answer: C,D,E
Explanation:
Explanation
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cash-bank-management/reconcile- bank-statements-advanced-bank-reconciliation
NEW QUESTION # 76
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. Yes
- B. No
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/year-end-close
NEW QUESTION # 77
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Microsoft MB-310 certification is an excellent investment for professionals in the finance and accounting industry who want to enhance their skills and career prospects. By earning this certification, individuals can demonstrate their expertise in using Microsoft Dynamics 365 Finance and gain a competitive edge in the job market.
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