MB-310 Practice Test

MB-310 Practice Test practice questions, page 3 of 17, with answer review and explanations.

Question 11

A rental service company hires you to configure their system to implement accrual schemes. You need to configure the accrual schemes for the company for both rentals and associated expenses. 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. Hot Area:

Question 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.

  1. For new employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
  2. For current employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
  3. For new employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
  4. For current employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.

Question 13

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. Hot Area:

Question 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?

  1. Configure the account structure to specify which financial dimensions are valid for which main accounts.
  2. Train users to select the Validate button in the current journal configuration so that the correct account and dimension combination is used.
  3. Configure financial dimension sets to limit which financial dimensions are valid for which main accounts.
  4. Associate the correct main accounts to that financial dimension on the financial dimension setup form.

Question 15

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. Hot Area: