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Microsoft Dynamics 365 Finance Question and Answers

Microsoft Dynamics 365 Finance

Last Update Mar 29, 2024
Total Questions : 282

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Questions 1

You need to ensure the promotional gifts are posted to the correct account. What should you use?

Options:

A.  

Classification groups

B.  

Item groups

C.  

Field groups

D.  

Customer credit groups

E.  

Bank groups

Discussion 0
Questions 2

You need to configure the posting groups for Humongous insurance s subsidiary. Which ledger posting group field should you use?

Options:

A.  

Sales tax receivable

B.  

Use tax expense

C.  

Use tax payable

D.  

Sales tax payable

E.  

Customer case discount

Discussion 0
Questions 3

You need to create Trey Research s bank accounts.

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.

Options:

Discussion 0
Questions 4

You need to configure the cash flow management reports.

How should you configure cash flow management? To answer, select the appropriate options m the answer area.

NOTE: Each correct selection is worth one point.

Options:

Discussion 0
Questions 5

A customer uses Dynamics 365 Finance to manage budgets.

You review a customer’s budget funds available calculation and discover that the budget amounts posted two weeks ago are not reflected in the budget control check on a purchase order.

You verify that budget control is set to active.

You need to determine why the budget posted two weeks ago is not reflecting correctly.

What should you do?

Options:

A.  

Verify that available budget funds are configured appropriately.

B.  

Post a budget transfer to add the correct funds.

C.  

Verify whether budget plans are still in draft status.

D.  

Compare the budget control active date to the date of the posted register entries to verify that it was active at the time of posting.

Discussion 0
Questions 6

You are a functional consultant for Contoso Entertainment System USA (USMF).

You need to implement a quarterly accruals scheme for USMF. The accrual scheme settings must match the settings of the monthly and annual accrual schemes.

To complete this task, sign in to the Dynamics 365 portal.

Options:

Discussion 0
Questions 7

A company is implementing Microsoft Dynamics 365 Finance.

The company has multiple vehicles. You depreciate all vehicles by using the straight-line service file depreciation method. The same ledger account is used to record the transaction when vehicle assets are acquired,

You need to configure the vehicles as fixed assets in the system.

Which feature should you use? To answer, drag the appropriate features to the correct requirements- Each feature 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 b worth one point.

Options:

Discussion 0
Questions 8

A client needs guidance on month-end closing procedures.

The client needs to be able to stop all teams except Accounts payable and General ledger from posting

transactions for the month.

You need to configure Dynamics 365 Finance to allow only those two teams to transact during the period

being closed.

Which three actions should you perform? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

Options:

A.  

Create an access group called month end access for Accounts payable and General ledger team

members.

B.  

Set all modules to none to prevent any transactions from being posted.

C.  

Configure the financial period close workspace tasks to the Accounts payable and General ledger teams

only

D.  

Move the period status to on hold for your client’s one legal entity.

E.  

Assign the security group month end access on the ledger calendar form for the modules they need

access to.

Discussion 0
Questions 9

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 customer uses Dynamics 365 Finance. The customer creates a purchase order for purchase $20,000 of office furniture.

You need to configure the system to ensure that the funds are reserved when the purchase order is confirmed.

Solution: Set up posting definitions for purchase requisitions.

Does the solution meet the goal?

Options:

A.  

Yes

B.  

No

Discussion 0
Questions 10

An exchange rate provider has been configured for Dynamics 365 Finance.

Foreign currency transactions using the Euro and the US dollar use a fixed exchange rate for European Central Bank holidays and all days between April 1 and June 30. Foreign currency transactions from March 1 to June 30 fail to post.

You need to reconfigure the system to post transactions for this period.

Which two configuration changes should you make to the ledgers? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

Options:

A.  

Set Prevent import on national holiday to True

B.  

Set Create necessary currency pairs to True

C.  

Set Import as of start date to Apr 01

D.  

Add a key named BaseCurrency and value of US

D.  

E.  

Add a key named FloatCurrencies and set the value to True

Discussion 0
Questions 11

An organization plans to use defined journal names for each purpose. They want to ensure that journal

processing is easier and more secure.

The organization has the following requirements:

  • Set up restrictions on the account type and segment values.
  • Capture data accurately for offset accounts, currency, and financial dimensions.
  • Maintain internal control and establish materiality limits.

You need to set up journal name elements to meet these requirements.

Which three journal elements should you configure? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

Options:

A.  

workflow approval

B.  

account type

C.  

journal type

D.  

default values

E.  

journal control

Discussion 0
Questions 12

An organization plans to set up intercompany accounting between legal entities within the organization.

Automatic transactions between legal entities must meet the following requirements:

  • Provides systemwide integration and streamlining to save time
  • Minimizes errors and create an audit trail with full visibility into business activities and transaction histories within the legal entities

You need to set up intercompany accounting and create pairs of legal entities that can transact with each other, clearly defining the originating company and the destination company.

Which three actions should you perform? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

Options:

A.  

Select intercompany journal names.

B.  

Configure intercompany accounting in both the originating entity and destination entity.

C.  

Create intercompany main accounts to use for the due to and due from accounting entries.

D.  

Define intercompany accounting setup by creating legal entity pairs defining originating and destination companies.

E.  

Configure intercompany accounting in the destination entity only.

Discussion 0
Questions 13

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 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 with import.

Does the solution meet the goal?

Options:

A.  

Yes

B.  

No

Discussion 0
Questions 14

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 manage a Dynamics 365 Finance implementation.

You must provide the budget versus actual reporting in near real time.

You need to configure the ledger budgets and forecasts workspace to track expenses over budget and revenue under budget

Solution: Select organization hierarchy from the Configure my workspace form. Set an expense budget threshold percent.

Does the solution meet the goal?

Options:

A.  

Yes

B.  

No

Discussion 0
Questions 15

A company is implementing Dynamics 365 Finance.

The company needs the ability to handle deferring revenue, reallocations, revenue schedules, and milestone-based recognition.

You need to configure the functionality.

What should you do? To answer, drag the appropriate functionality to the correct requirement. Each functionality 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.

Options:

Discussion 0
Questions 16

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.

Options:

A.  

Select all the bank accounts for the bank statement files, and then upload all files

B.  

Select Account reconciliation on the bank account form

C.  

Import bank statements from the Data management workspace

D.  

Navigate to Import statement on the Bank Statements page of Cash and Bank Management

E.  

Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file

Discussion 0
Questions 17

A company plans to use Dynamics 365 Finance to calculate sales tax on sales orders.

You need to automatically calculate sales tax when the sales order is created.

Which three actions should you perform? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point,

Options:

A.  

Assign values to the sales tax codes and assign the sales tax codes to the sales tax group associated to

the customer.

B.  

Assign all sales tax codes to the item sales tax group associated to the item being sold.

C.  

Set up a default item sales tax group on the item being sold and set up a default sales tax group on the

customer used on the sales order.

D.  

Associate the sales tax jurisdictions to the item sales tax group associated to the item being sold.

E.  

Set up a default sales tax code on the customer used on the sales order and set up a default item sales tax

group on the item being sold.

Discussion 0
Questions 18

A company configures budget controls at the beginning of the year.

Which three budget control transaction actions occur when the budget control is turned off mid-year. Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

Options:

A.  

Activities are unrecorded for budget control purposes.

B.  

Budget register entries that have been posted after budget control is turned off will not be considered for budget control.

C.  

Posted documents might incorrectly reflect any relieving amounts or balances in inquiries and reports that are related to budget control.

D.  

Budget checks are performed.

You can view the budget reporting through financial reports.

E.  

You can view the budget reporting through financial reports.

Discussion 0
Questions 19

You need to configure recognition.

Which revenue type is associated with the line of business? To answer, drag the appropriate revenue types to the correct lines of business. Each revenue 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.

Options:

Discussion 0
Questions 20

You need to address the posting of sales orders to a closed period.

What should you do?

Options:

A.  

Permanently close the period for all modules.

B.  

Divide the period.

C.  

Use a ledger calendar to update period status.

D.  

Permanently close the fiscal year.

E.  

Use a ledger calendar to update module access.

Discussion 0
Questions 21

You need to configure the system to resolve User8's issue.

What should you select?

Options:

A.  

the Standard sales tax checkbox

B.  

the Conditional sales tax checkbox

C.  

a main account in the settlement account field

D.  

a main account in the sales tax payable field

Discussion 0
Questions 22

The posting configuration for a purchase order is shown as follows:

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.

Options:

Discussion 0
Questions 23

You need to troubleshoot the reporting issue for User7.

Why are some transactions being excluded?

Options:

A.  

User7 is running the report in CompanyB.

B.  

User7 is running the report in CompanyA.

C.  

The report is correctly excluding CustomerY transactions.

D.  

The report is correctly excluding CustomerZ transactions.

Discussion 0
Questions 24

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.

Options:

Discussion 0
Questions 25

You need to determine why CustomerX is unable to confirm another sales order.

What are two possible reasons? Each answer is a complete solution.

NOTE: Each correct selection is worth one point.

Options:

A.  

The credit limit parameter is set to Balance + All.

B.  

The credit limit is set to 0.

C.  

An inventory item is out of stock.

D.  

The inventory safety stock is set to 0.

Discussion 0
Questions 26

You need to view the results of Fourth Coffee Holding Company's consolidation.

D18912E1457D5D1DDCBD40AB3BF70D5D

Which three places show the results of financial consolidation? Each correct answer presents a complete

solution.

NOTE: Each correct selection is worth one point.

Options:

A.  

a financial report run against the company Fourth Coffee

B.  

a trial balance in the Fourth Coffee Holding Company

C.  

a trial balance in the company Fourth Coffee

D.  

a financial report run against the Fourth Coffee Holding Company

E.  

the consolidations form in Fourth Coffee Holding Company

Discussion 0
Questions 27

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.

Options:

Discussion 0
Questions 28

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.

Options:

A.  

Select a fixed asset group at the line level.

B.  

Set the new fixed asset toggle to yes 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 financial dimension at the line level.

Discussion 0
Questions 29

You need to configure settings to resolve User8’s issue.

What should you select?

Options:

A.  

a main account in the sales tax payable field

B.  

a main account in the settlement account field

C.  

the Conditional sales tax checkbox

D.  

the Standard sales tax checkbox

Discussion 0
Questions 30

You need to correct the sales tax setup to resolve User5's issue.

Which three actions should you perform? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

Options:

A.  

Populate the sales tax code on the sales order line.

B.  

Assign the sales tax group to CustomerY.

C.  

Assign the relevant sales tax code to both the sales tax and item sales tax groups.

D.  

Populate the item sales tax group field on the sales order line.

E.  

Populate the sales tax group field on the sales order line.

Discussion 0
Questions 31

You need to assist User3 with generating a deposit slip to meet Fourth Coffee's requirement.

Which five 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.

Options:

Discussion 0
Questions 32

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.

Options:

Discussion 0
Questions 33

You need to configure Accounts Receivable to take pre-orders.

Which feature should you use?

Options:

A.  

Settle cloud transactions

B.  

Accounting source explorer

C.  

Settle open transactions

D.  

Customer aging report

E.  

Voucher transactions

Discussion 0
Questions 34

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.

Options:

Discussion 0
Questions 35

You need to configure the system to meet the budget preparation requirements.

What should you do? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

Options:

Discussion 0
Questions 36

You need to determine the root cause for User1’s issue.

Which configuration options should you check? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

Options:

Discussion 0
Questions 37

Which configuration makes it possible for User4 to make a purchase?

Options:

A.  

Budget model configuration is configured to allow certain purchases to exceed budget.

B.  

Budget is posted at the dimension level. Budget control is managed at main account level.

C.  

Budget funds available are configured to allow dimension budget overrides.

D.  

Budget is posted at the main account level. Budget control is managed at the department level.

Discussion 0
Questions 38

You need to configure budget planning for Alpine Ski House Corporate.

Which two components should you configure? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

Options:

A.  

budget control workflow

B.  

budget planning workflow

C.  

operational budget register entry IS

D.  

organizational hierarchy

E.  

budget planning hierarchy

Discussion 0
Questions 39

The Canadian franchise purchases excess ski equipment from the US franchise. Two sets of skis are

purchased totaling USD1,000.

When the purchase invoice is prepared, USD10,000 is keyed in by mistake.

Which configuration determines the result for this intercompany trade scenario?

Options:

A.  

Post invoices with discrepancies is set to require approval.

B.  

Match invoice totals is set to yes.

C.  

Three-way match policy is configured.

D.  

Two-way match policy is configured.

E.  

Post invoices with discrepancies is set to allow with warning.

Discussion 0
Questions 40

You need to adjust the sales tax configuration to resolve the issue for User3.

What should you do?

Options:

A.  

Create multiple settlement periods and assign them to the US tax vendor.

B.  

Create multiple sales tax remittance vendors and assign them to the settlement period.

C.  

Run the payment proposal to generate the sales tax liability payments.

D.  

Create a state-specific settlement period and assign the US tax vendor to the settlement period.

Discussion 0
Questions 41

You need to resolve the issue that User4 reports.

What should you do?

Options:

A.  

Change the status of the vendor collaboration request

B.  

Create a vendor account with the systemexternaluser role and the vendor admin (external) role

C.  

Remove the externalsystemuser role from the vendor

D.  

Manually create the vendor account with the systemuser role

Discussion 0
Questions 42

You need to prevent the issue from reoccurring for User5.

What should you do?

Options:

A.  

Use the audit list search query type.

B.  

Set up the aggregate query type for entertainment expenses.

C.  

Set up the sampling query type for entertainment expenses.

D.  

Add more keywords to the audit policy.

Discussion 0
Questions 43

You need to determine the cause of the issue that User1 reports.

What are two possible causes for the issue? Each correct answer presents a complete solution.

NOTE: Each correct selection is worth one point.

Options:

A.  

The account structure is in draft status.

B.  

The account structure has quotations for all dimensions.

C.  

User1 s security is incorrectly set up.

D.  

The account structure has an asterisk for all dimensions.

E.  

The financial dimensions were created in the incorrect legal entity.

Discussion 0
Questions 44

You need to configure ledger allocations to meet the requirements.

What should you configure? To answer, drag the appropriate setups to the correct requirements. Each setup 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.

Options:

Discussion 0
Questions 45

You need to acquire the fixed assets that are associated with the purchase orders.

What should you do?

Options:

A.  

Select the fixed asset checkbox on the invoice.

B.  

Create the fixed assets in the fixed asset module and then acquire the asset.

C.  

Create the fixed assets in the fixed asset module and then select the fixed asset checkbox on the product

receipt.

D.  

Reverse the product receipt and then repost it.

Discussion 0
Questions 46

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.

Options:

Discussion 0
Questions 47

You need to reconfigure the taxing jurisdiction for Humongous insurance's subsidiary What should you do?

Options:

A.  

Configure sales tax groups for transactions that occur in China.

B.  

Configure dual currency support for sales fax

C.  

Change the reporting currency.

D.  

Change the sales tax settlement period authority

Discussion 0
Questions 48

You need to configure currencies for the legal entities.

configure currencies? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

Options:

Discussion 0
Questions 49

You need to ensure Trey Research meets the compliance requirement.

Which budget technology should you implement? Each correct answer presents a complete solution.

NOTE: Each correct selection is worth one point

Options:

A.  

budget codes

B.  

the Excel budget template

C.  

set-based budget processing

D.  

budgeting workflows

Discussion 0
Questions 50

You need to configure the fiscal year calendars for each legal entity.

How should you configure the fiscal year calendars? To answer, select me appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

Options:

Discussion 0
Questions 51

You need to configure credit card processing for all three companies.

Which option should you use? To answer, select the appropriate options in the answer area

NOTE: Each correct selection is worth one point.

Options:

Discussion 0
Questions 52

You need to configure credit card processing for all three companies

Which option should you use? To answer, select the appropriate options m the answer area

NOTE: Each correct selection is worth one point.

Options:

Discussion 0
Questions 53

You need to configure expense management tor Humongous Insurance and its subsidiary. Which options should you use? To answer select the appropriate options in me answer area

NOTE: Each correct selection is worth one point.

Options:

Discussion 0
Questions 54

You need to ensure accounting entries are transferred from subledgers to general ledgers.

How should you configure the batch transfer rule? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

Options:

Discussion 0