📘 Free MB-310 Sample Questions
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. yes
Explanation:
For profit and loss accounts, you can select to maintain the financial dimensions (Close all) when the
balances are moved to Retained earnings"
Answer A. Yes is good
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
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.
- 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. no
Explanation:
B- No.
Setting the year to permanently closed means that the closing can't be run again.
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:
A
Correct Answer:
A.
A company is preparing to complete a year-end close process.
You need to configure the Dynamics 365 Finance general ledger module.
Which three configurations actions should you perform? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
A
Configure the Fiscal year close parameters
B
Configure the ledger calendar for the new fiscal year
C
Set up the year end close template
D
Validate the main account type
E
Create the next fiscal year
Correct Answer:
A. Configure the Fiscal year close parameters
Explanation:
The question is not asking properlyD - is one step of process before running YEC, but you can run it without
it.But for processing YEC, you must setup parameters, next FY and template.
A client has unique accounting needs that sometimes require posting definitions.
You need to implement posting definitions.
In which situation should you implement posting definitions?
A
when only certain dimensions are allowed to post with certain main account combinations
B
when creating multiple balanced ledger entries based on transaction types or accounts
C
when financial dimensions need to default from the vendor record onto an invoice
D
when the system needs to automatically post a transaction to the accounts receivable account on invoice
posting
Correct Answer:
B. when creating multiple balanced ledger entries based on transaction types or accounts
Explanation:
You have to generate multiple, balanced ledger entries based on attributes such as transaction types and
accounts. Use posting profiles if you need only one offset ledger entry.
You might want to use posting definitions in the following circumstances:- You have to generate multiple,
balanced ledger entries based on attributes such as transaction types and accounts. Use posting profiles if
you need only one offset ledger entry.- You have to support encumbrance accounting for purchase orders and
pre-encumbrance accounting for purchase requisitions. Posting profiles cannot be used for encumbrance and
pre-encumbrance accounting.So the correct is C
An organization is a setting up a cost accounting.You need to set up fiscal calendars for Dynamics 365 Finance.what are Three uses fiscal calenders ? Each correct answer present a complete solution.
NOTE: Each correct selection is worth one point.
A
standard work hours
B
fixed asset depreciation
C
financial transaction
D
budget cycles
Correct Answer:
B. fixed asset depreciation
You are configuring automatic bank reconciliation functionality for a company that has multiple bank accounts.The company want to import their bank statement.
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 worth one point.
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
Correct Answer:
HOTSPOT -
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 theanswer area.
NOTE: Each correct selection worth one point.
Hot area-
A
Correct Answer:
A.
HOTSPOT -
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
A
Correct Answer:
A.
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cost-accounting/terms-cost-ac
counting
Question: 15 MB-310: Actual Exam Q&A | CLEARCATNET
HOTSPOT -
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
A
Correct Answer:
A.
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