MB-310 Microsoft Dynamics 365 Finance exams demo

Set up and configure financial management
Question Set 1
QUESTION 1
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 Finance.
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 into 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 No.
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 No.
- Set the Transfer profit and loss dimensions option to Close All.
Set all prior and future Ledger periods to a status of On Hold.
Does the solution meet the goal?
A. Yes
B. No
Correct Answer: A
Section: (none)
Explanation
Explanation/Reference:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
QUESTION 2
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 Finance.
You need to configure the year-end setup to meet the following requirements:
96CE4376707A97CE80D4B1916F054522
The accounting adjustments that are received in the first quarter must be able to be posted into 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 to Close All.
Set all prior and future Ledger periods to a status of On Hold.
Does the solution meet the goal?
A. Yes
B. No
Correct Answer: B
Section: (none)
Explanation
Explanation/Reference:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
QUESTION 3
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 Finance.
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 into 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 No.
- Set the Create closing transactions during transfer option to No.
- Set the Fiscal year status to permanently closed option to No.
Define the Year-end close template.
96CE4376707A97CE80D4B1916F054522
- Designate a retained earnings main account for each legal entity.
- Set the Financial dimensions will be used on the Opening transactions option to No.
- Set the Transfer profit and loss dimensions to Close All.
Set all prior and future Ledger periods to a status of On Hold.
Does the solution meet the goal?
A. Yes
B. No
Correct Answer: B
Section: (none)
Explanation
Explanation/Reference:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
QUESTION 4
HOTSPOT
You are implementing a Dynamics 365 Finance general ledger module for a client that has multiple legal
entities.
The client has the following requirements:
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.
NOTE: Each correct selection is worth one point.
Hot Area
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