The Best MB-310 Exam Study Material and Preparation Test Question Dumps
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The MB-310 certification exam covers essential topics related to Microsoft Dynamics 365 Finance and Operations applications. MB-310 exam focuses on the fundamental concepts of financial management, such as accounts payable and receivable, general ledger, budgeting, and financial reporting. It also covers advanced topics such as cost accounting, inter-company accounting, and fixed assets management. MB-310 exam aims to validate the candidate's knowledge and skills in using Microsoft Dynamics 365 Finance and Operations applications for financial management.
Preparing for the Microsoft MB-310 Exam requires a thorough understanding of finance and accounting concepts, as well as practical experience in configuring and implementing solutions using Dynamics 365 Finance. Microsoft offers several training courses, study materials, and practice exams to help candidates prepare for the certification exam successfully.
NEW QUESTION # 126
A company manufactures and installs air filtering units for industrial manufacturing plants.
The air filtering units are manufactured to order. The com
* 25 percent at the time of the sale
* 50 percent when the unit is shipped
* 25 percent when the unit is installed
Additionally, a three-year warranty is sold with covers.
You need to configure revenue recognition.
What should you do?
- A. Create a new revenue schedule for each unit.
- B. Create one revenue schedule with milestones.
- C. Create the revenue schedule so that it uses the contract terms
- D. Create a reallocation posting for the warranty revenue.
Answer: C
NEW QUESTION # 127
A company uses the basic budgeting functionality in Dynamics 365 Finance. You are creating the budget in the system for the upcoming fiscal year.
The company uses budget workflow approvals to process budget entries. The company plans to split a business unit named IT and Infrastructure into two business units: Business Applications and IT Infrastructure.
You need to create the budget for the two business units based on 1.5 Which four 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.
Answer:
Explanation:
Explanation:
NEW QUESTION # 128
You must configure journal controls in Dynamics 365 for Finance and Operations.
Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic
Answer:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/general-journal-processing
NEW QUESTION # 129
You are configuring vendor collaboration security roles for external vendors. You manually set up a vendor contact.
You need to assign the Vendor (external) role to this vendor.
Which tasks can this vendor perform?
- A. Activate or inactivate the association between a contact person and a vendor account.
- B. View and modify contact person information, such as the person's title, email address, and telephone number.
- C. View consignment inventory.
- D. Delete any contact person that they have created.
Answer: C
Explanation:
Note:
There are several versions of this question in the exam. The question has two possible correct answers:
1. View consignment inventory.
2. Maintain vendor collaboration invoices.
Other incorrect answer options you may see on the exam include the following:
1. Add a new or existing contact person to the vendor accounts that they are a contact for.
2. Request a new user account for a contact person by using the Provision user action.
3. Deny or allow a contact person's access to documents on the vendor collaboration interface that are specific to the vendor account.
4. Maintain vendor collaboration invoices.
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/procurement/set-up-maintain- vendor-collaboration
NEW QUESTION # 130
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.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules
NEW QUESTION # 131
A client is implementing fixed assets in Dynamics 365 Finance.
You need to specify which parameters should be configured to meet the business requirements.
Which parameters meet the requirements? To answer, drag the appropriate parameters to the correct requirements. Each parameter 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/fixed-assets/tasks/set-up-fixed-asset-posting-profiles
https://docs.microsoft.com/en-us/dynamics365/finance/fixed-assets/set-up-fixed-assets
NEW QUESTION # 132
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.
Answer:
Explanation:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules
Topic 2, Fourth Coffee Case Study
Case study
This is a case study. Case studies are not timed separately. You can use as much exam time as you would like to complete each case. However, there may be additional case studies and sections on this exam. You must manage your time to ensure that you are able to complete all questions included on this exam in the time provided.
To answer the questions included in a case study, you will need to reference information that is provided in the case study. Case studies might contain exhibits and other resources that provide more information about the scenario that is described in the case study. Each question is independent of the other questions in this case study.
At the end of this case study, a review screen will appear. This screen allows you to review your answers and to make changes before you move to the next section of the exam. After you begin a new section, you cannot return to this section.
To start the case study
To display the first question in this case study, click the Next button. Use the buttons in the left pane to explore the content of the case study before you answer the questions. Clicking these buttons displays information such as business requirements, existing environment, and problem statements. If the case study has an All Information tab, note that the information displayed is identical to the information displayed on the subsequent tabs. When you are ready to answer a question, click the Question button to return to the question.
Background
Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively.
Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance environment to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes.
The current organizational chart is shown below:
Current environment
Systemwide setup
* Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials.
* All companies share a Chart of Accounts.
* Two dimensions are used: Department and Division.
* Budgeting is controlled at the department level.
* Customers and vendors are defined as two groups: Domestic and International.
* Mandatory credit check is set to No.
* Consolidate online is used for the consolidation of all companies.
* International main accounts are subject to foreign currency revaluation.
* The purchasing budget is used to enforce purchasing limits.
General ledger accounts
Fourth Coffee
* The base currency is USD.
* Three item groups are used: coffee, supplies, and nonstock.
* The standard sales tax method is used.
* Acquiring fixed assets requires a purchase order.
* All customer payment journals require a deposit slip.
* CustomerX is a taxable company.
* CustomerY is a tax-exempt company.
* CustomerZ is a taxable company.
* VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group.
* VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group.
* VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group.
CompanyA
* The base currency is USD.
* It consists of a marketing department and a digital division.
* A 4-5-4 calendar structure is used.
* The standard sales tax method is used.
CompanyB
* The base currency is CAD.
* The conditional sales tax method is used.
Requirements
Reporting
* A consolidated Fourth Coffee financial report is required in USD currency.
* Fourth Coffee and its subsidiaries need to be able to report sales by item type.
* Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments.
Issues
* User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account.
* User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division.
* When User3 posts an Accounts receivable payment journal, a deposit slip is not generated.
* User4 observes an increase in procurement department expenses for supplies.
* User5 observes that sales tax is not calculating on a sales order for CustomerZ.
* User6 observes that sales tax is calculating for CustomerY.
* User7 observes that the sales tax payment report is excluding posted invoice transactions.
* User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form.
* User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets.
* CustomerX requires a credit check when making a purchase and is currently at their credit limit.
NEW QUESTION # 133
An organization sells monthly service subscriptions. The organization sends invoices to customers on the 15th of every month in the amount of $450.00.
You need to set up, configure, and process recurring free text invoices for the customers.
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 - Create a free text invoice template with header, line, accounting distribution...
2 - Assign the template to the customers that you want to invoice
3 - Process the recurring invoice by specifying the invoice date and the template...
4 - Post recurring free text invoices through the periodic posting button Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/set-up-process-recurring-invoices
NEW QUESTION # 134
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.
- A. Add a key named FloatCurrencies and set the value to True
- B. Add a key named BaseCurrency and value of USD.
- C. Set Import as of start date to Apr 01
- D. Set Prevent import on national holiday to True
- E. Set Create necessary currency pairs to True
Answer: B,C
NEW QUESTION # 135
A company makes frequent payments to its vendors by using various due dates and discounts.
You need to set up and create a vendor payment by using a payment proposal.
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
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cash-bank-management/tasks/vendor-payment-overview
NEW QUESTION # 136
An organization sells monthly service subscriptions. The organization sends invoices to customers on the 15th of every month in the amount of $450.00.
You need to set up, configure, and process recurring free text invoices for the customers.
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/financials/accounts-receivable/set-up-process-recurring-invoices
NEW QUESTION # 137
A client is implementing Accounts payable. The client wants to establish three-way matching for 100 of their 5,000 stocked items from a specific vendor.
The client requires the ability to have items that require only two-way matching and specific items that require three-way matching.
You need to configure the system in the most efficient manner to achieve these requirements.
What should you do?
- A. Configure a company matching policy of two-way matching and set the matching policy for specific item, and vendor combination level to three-way matching.
- B. Configure a company matching policy of two-way matching and specify the vendors that require a three-way match.
- C. Configure a company matching policy of two-way matching and specify the items that require a three-way match.
- D. Configure a company matching policy of non-required and specify the items that require a three-way match.
- E. Configure a company matching policy of a three-way match.
Answer: A
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-payable/tasks/set-up-accounts-payable-invoice-matching-validation
NEW QUESTION # 138
You need to configure invoice validation for vendors in Dynamics 365 for Finance and Operations. You are viewing the Accounts payable parameter for Invoice validation.
Answer:
Explanation:
NEW QUESTION # 139
You are implementing Dynamics 365 Finance.
You must associate items with an item model group. An inventory close must not be required.
You need to configure the item model group.
Which costing method should you use? To answer, drag the appropriate costing method to the correct system behavior. Each costing 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:
NEW QUESTION # 140
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:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cost-accounting/terms-cost-accounting
NEW QUESTION # 141
You are asked to configure a main account in Dynamics 365 Finance.
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 # 142
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:
Explanation:
NEW QUESTION # 143
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To prepare for the Microsoft MB-310 exam, individuals should have a strong understanding of financial management principles, as well as experience working with Dynamics 365 Finance. Microsoft recommends that individuals take the Finance and Operations Apps Solution Architect or the Dynamics 365 Finance Functional Consultant Associate certification before taking the MB-310 exam. Additionally, Microsoft offers a range of training courses and resources to help individuals prepare for the exam, including instructor-led training, e-learning courses, and certification exam prep sessions.
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