MB-340 : Microsoft Dynamics 365 Commerce Functional Consultant (beta) : Part 01

MB-340 : Microsoft Dynamics 365 Commerce Functional Consultant (beta) : Part 01

1. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Systems Administrator. Your role will include the management of the Dynamics 365 system.

   The company has several departments. You need to configure allocations for the departments. The company has the following requirements for the allocations:

   The allocations should be fixed or variable.
   Allocation journal entries must be automatically created for review before posting.

   You need to configure the system to meet the requirements.

   What should you configure?

   • Transfer balance
   • Allocation terms
   • Ledger settlements
   • Ledger settlements

2. Your role of Systems Administrator includes the management of your company’s Microsoft Dynamics 365 Finance system.

   You need to configure posting definitions and posting profiles. You need to determine under which circumstance you should configure a posting definition or a posting profile.

   Which two of the following statements are true? (Choose two).

   • You should use posting definitions when you need to support encumbrance accounting for purchase orders and pre-encumbrance accounting for purchase requisitions.
   • You should use posting profiles when you need to support encumbrance accounting for purchase orders and pre-encumbrance accounting for purchase requisitions.
   • You should use posting definitions when you need to generate multiple, balanced ledger entries based on attributes such as transaction types and accounts.
   • You should use posting definitions when you need only one offset ledger entry.

3. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Systems Administrator. Your role will include the management of the Dynamics 365 Finance system.

   You need to configure fiscal calendars to be used with fixed asset depreciation, financial transactions, and budget cycles.

   Which two of the following statements are true? (Choose two)

   • A fiscal calendar can contain multiple fiscal years.
   • A fiscal calendar is limited to a maximum of one year.
   • A fiscal calendar can be used by multiple legal entities.
   • A fiscal period can contain multiple fiscal calendars.

4. Your role of Systems Administrator includes the management of your company’s Microsoft Dynamics 365 Finance system. The company has several departments.

   The company spends a lot of money each year on marketing campaigns.

   You need to configure allocation rules to divide the marketing costs between the company departments.

   The marketing expenses must be allocated based on each department’s sales in proportion to the total departmental sales.

   Which allocation method should you use in the allocation rule?

   • Basis
   • Fixed percentage
   • Fixed weight
   • Equally

5. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team.

   You are providing training on the cost accounting module in the Dynamics 365 Finance system.

   Which of the following statements describes the allocation base?

   • Used to measure and quantify activities, such as machine hours that are used, kilowatt hours that are consumed, or square footage that is occupied.
   • Defined by calendar, currency, and cost element dimension, it controls processes and policies for measuring costs.
   • Used as a function to track and categorize costs.
   • Classifies costs according to their behavior in relation to changes in key business activities.

6. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team.

   You are providing training on the cost accounting module in the Dynamics 365 Finance system.

   Which of the following statements describes a cost element?

   • The result of a transfer via data connectors from general ledger entries, cost allocations, and posted cost entries in cost journals.
   • Used as a function to track and categorize costs.
   • Classifies costs according to their behavior in relation to changes in key business activities.
   • Used to distribute cost from one cost object to one or more other cost objects by applying a relevant allocation base.

7. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team.

   You are providing training on the cost accounting module in the Dynamics 365 Finance system.

   Which of the following statements describes a cost entry?

   • Used to distribute cost from one cost object to one or more other cost objects by applying a relevant allocation base.
   • Used to allocate the balance of a cost object to other cost objects by applying an allocation base
   • Represents the cost structure. The structure determines how cost flows in a hierarchical order between cost object dimensions and their respective cost objects.
   • The result of a transfer via data connectors from general ledger entries, cost allocations, and posted cost entries in cost journals.

8. Your role of Systems Administrator includes the management of your company’s Microsoft Dynamics 365 Finance system.

   Users report that the results in financial reports are incorrect.

   You discover that the discrepancies are caused by users selecting invalid main account and dimension combinations when posting journal entries.

   You need to specify which financial dimensions are valid for which main accounts to prevent the invalid main account and dimension combinations.

   What should you configure?

   • Ledger allocation rules
   • Financial dimension sets
   • Account structure
   • Cost classifications

9. Your role of Systems Administrator includes the management of your company’s Microsoft Dynamics 365 Finance system.

   You need to configure posting definitions. You need to determine which transaction types you can configure posting definitions for.

   For which of the following can you NOT configure posting definitions?

   • Fixed assets
   • Accounts payable
   • Payroll
   • Accounts receivable
   • Budget

10. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Systems Administrator. Your role will include the management of the Dynamics 365 system.
    You need to configure the sales tax functionality in Dynamics 365 Finance.

    You have created the main accounts and set up the ledger posting groups for sales tax.

    Which of the following actions should you perform next?

    • Set up sales tax reporting codes.
    • Set up sales tax authorities.
    • Set up sales tax codes.
    • Set up sales tax groups.

11. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Systems Administrator. Your role will include the management of the Dynamics 365 system.

    You need to configure the account structure.

    For the Business Unit dimension, you need to ensure that blank values are allowed.

    Which of the following values should you include for the business unit dimension?

    • * (asterisk)
    • ” ” (two quotation marks)
    • ANY
    • Blank

12. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Systems Administrator. Your role will include the management of the Dynamics 365 system.

    You need to configure the account structure.

    For the Business Unit dimension, you need to ensure that all values and blank values are allowed.

    Which of the following values should you include for the business unit dimension?

    • * (asterisk)
    • ALL
    • *; ” ” (asterisk and quotation marks separated by a comma)
    • *; ” ” (asterisk and quotation marks separated by a semicolon)

13. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team.

    You are providing training on the cost accounting module in the Dynamics 365 Finance system.

    Which of the following are examples of cost behavior?

    • Primary, secondary
    • By elements, by traceability
    • Products, projects, departments
    • Fixed, variable, semi-variable

14. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team.

    You are providing training on the cost accounting module in the Dynamics 365 Finance system.

    Which of the following can be primary or secondary?

    • Cost element
    • Cost classification
    • Cost control unit
    • Cost behavior

15. A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team.

    You are providing training on the cost accounting module in the Dynamics 365 Finance system.

    Products, projects, departments, cost center are example of which of the following?

    • Cost elements
    • Cost objects
    • Cost classifications
    • Cost distribution

16. A company uses a Microsoft Dynamics 365 Finance. Your role of Systems Administrator includes the management of the Microsoft Dynamics 365 Finance system.

    The Financial Director wants a way to view the progress of financial closing processes. The solution must provide the ability to view tasks that are past due, remaining tasks for today, tasks that are due today but are blocked because of dependencies, and all remaining tasks for the process.

    Which of the following should you configure?

    • Financial reports
    • Financial period close workspace
    • Business Process Flow
    • Financial insights workspace

17. You work as a Financial Consultant. You have been hired by a company to manage the Microsoft Dynamics Finance 365 system.

    You need to configure the Microsoft Dynamics Finance system to spread costs from one cost object to one or more other cost objects by applying a relevant allocation base.

    Which of the following should you configure?

    • Cost allocation policy
    • Cost behavior
    • Cost elements
    • Cost distribution

18. You work as a Financial Consultant. You have been hired by a company to manage the Microsoft Dynamics Finance 365 system.

    You need to configure the Microsoft Dynamics Finance system to classify costs according to their behavior in relation to changes in key business activities.

    Which of the following should you configure?

    • Cost classification
    • Cost behavior
    • Allocation base
    • Cost elements

19. You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system.

    You need to ensure that when creating sales orders, the sales tax is automatically calculated when an item is added to a sales order line.

    Which two of the following fields must be populated in the sales order line to ensure the sales tax is calculated? (Choose two).

    • Item group
    • Customer sales tax group
    • Item sales tax group
    • Sales tax code

20. You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system.

    You are configuring the system to ensure that when creating sales orders, the sales tax is automatically calculated when an item is added to a sales order line.

    When testing the configuration, you discover that the sales tax is not calculated for the sales order line.

    You need to verify the configuration.

    Which of the following should you check?

    • Ensure that the sales tax code is associated with both the sales tax group and the item sales tax group.
    • Ensure that the sales tax code is associated with the sales tax group but not the item sales tax group.
    • Ensure that the sales tax code is associated with the item sales tax group but not the sales tax group.
    • Ensure that the sales tax code is not associated with either the sales tax group or the item sales tax group.