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Microsoft MB-310 is a certification exam designed for professionals who want to become Microsoft Dynamics 365 Finance Functional Consultants. It is an intermediate-level exam that assesses candidates' understanding and skills in financial management, accounts receivable, accounts payable, budgeting, and forecasting using Microsoft Dynamics 365 Finance. MB-310 exam is ideal for individuals who have experience with Microsoft Dynamics 365 Finance, and are looking to validate their expertise and advance their career in this field.
NEW QUESTION # 22
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to apply a constant currency exchange rate to calculate the reporting currency value of fixed assets.
To complete this task, sign in to the Dynamics 365 portal.
Answer:
Explanation:
See explanation below.
Explanation
The currency Translation Type needs to be set to This option uses the last rate on or before the period specified in the report regardless of what the exchange rate was at the time of purchase for each asset.
* Navigate to General Ledger Main Accounts.
* Select the Financial Reporting
* In the Reporting currency exchange rate type from the drop-down list.
* Click Save to save the changes.
NEW QUESTION # 23
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:
Explanation
NEW QUESTION # 24
A client has one legal entity and the following four dimensions configured: Business Unit, Cost Center, Department, and Division.
You need to configure the client's system to run the trial balance inquiry in the General ledger module so that it displays the trial balance two ways:
* Include the main account and all four dimensions.
* Include the main account and only the business unit and cost center dimensions.
What should you configure?
- A. two account structures
- B. all financial dimensions by using the group dimension functionality
- C. two financial dimension sets
- D. two derived financial dimension hierarchies
Answer: C
Explanation:
Section: Topic 2, Manage and apply common processes
NEW QUESTION # 25
You need to select the functionality to meet the requirement.
Which features should you use? To answer, drag the appropriate features to the correct requirements. Each feature may be used 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://www.mscloudexperts.com/how-to-set-up-fixed-assets-to-register-transactions-in-posting-layers/
NEW QUESTION # 26
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 # 27
A client has one legal entity and the following four dimensions configured: Business Unit, Cost Center, Department, and Division.
You need to configure the client's system to run the trial balance inquiry in the General ledger module so that it displays the trial balance two ways:
*Include the main account and all four dimensions.
*Include the main account and only the business unit and cost center dimensions.
What should you configure?
- A. two account structures
- B. all financial dimensions by using the group dimension functionality
- C. two financial dimension sets
- D. two derived financial dimension hierarchies
Answer: C
NEW QUESTION # 28
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. Create templates that contain the required tasks within the closing process and assign to closing role.
- C. Assign a ledger calendar to the closing process.
- D. Designate resources and their scope based on closing roles.
- E. Create a separate closing schedule for every legal entity.
Answer: A,B,D
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-period-close-workspace
NEW QUESTION # 29
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:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/intercompany-accounting-setup
NEW QUESTION # 30
A client warns general journals to be used only to post ledger-type Transactions.
You need to set up Journal configuration to achieve the requirement.
Solution: Set up the journal control to specify the account structure and ledger segment.
Does: The solution meet the goal?
- A. No
- B. Yes
Answer: B
NEW QUESTION # 31
A company is preparing to complete a year-end close process.
You need to configure the Dynamics 365 for Finance and Operations General ledger module. Which three configurations must you use? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
- A. Validate the main account type
- B. Create the next fiscal year
- C. Configure the transfer balance
- D. Configure the ledger calendar for the new fiscal year
- E. Configure the Fiscal year close parameters
Answer: A,B,E
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
NEW QUESTION # 32
You need to setup a process of tracking, recording, and analyzing costs associated with the products or activities of a nonmanufacturing organization.
You need to configure the prerequisite setup for the standard costing version for the current period.
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:
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/cost-management/prerequisites-s
NEW QUESTION # 33
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 # 34
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 # 35
You need to adjust the sales tax configuration to resolve the issue for User3.
What should you do?
- A. Create a state-specific settlement period and assign the US tax vendor to the settlement period.
- B. Create multiple settlement periods and assign them to the US tax vendor.
- C. Run the payment proposal to generate the sales tax liability payments.
- D. Create multiple sales tax remittance vendors and assign them to the settlement period.
Answer: A
Explanation:
Explanation/Reference:
Manage and apply common processes
Question Set 1
NEW QUESTION # 36
You Create a financial dimension set named MA + DEPT+PROJ as shown in the following screenshot. The financial dimension set include the following dimensions:
* Main Account
* Department
* Project
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 # 37
An organization acquires a building.
You need to register and record the building as an asset building in Dynamics 365 Finance.
What are three possible ways to achieve the goal? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. Eliminate the project to a fixed asset
- B. Select an acquisition transaction type within a fixed asset journal
- C. Create a sales invoice to record and register the fixed asset
- D. Select an account type of Fixed Asset and a transaction type of Acquisition with a General Journal
- E. Use the sales order process to acquire the asset
Answer: A,B,D
NEW QUESTION # 38
You plan to implement Dynamics 365 Finance.
You need to configure the system to meet the following requirements:
* Post vendor invoices in a journal.
* Create payments to vendors.
* Post headcount transactions.
* Process intercompany transactions.
Which journal types should you use? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-journal-types
NEW QUESTION # 39
A customer implements Dynamics 365 Finance.
The customer observes that during foreign currency revaluation of the Accounts Receivable subledger, the results are not as expected.
You need to re-run the foreign currency revaluation of the Accounts Receivable subledger.
Which currency revaluation method should you use for each requirement? To answer, drag the appropriate methods to the correct requirements. Each method 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/cash-bank-management/foreign-currency-revaluation-accounts-payable-accounts-receivable
NEW QUESTION # 40
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. Yes
- B. No
Answer: B
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-overview-configuration
NEW QUESTION # 41
......
Conclusion
Taking and passing the Microsoft MB-310 test is a step in the right direction for functional consultants seeking to learn and master the act of meeting business requirements. The Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate certification being globally recognized will prepare you to take more roles in the industry if you nail such a test. Also, this description has highlighted a few books you need to efficiently prepare for and clear the actual evaluation. Everything is in your hands now so do your best!
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