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Vendor
Microsoft
Exam Name

Microsoft Dynamics 365 Finance

Exam Code
MB-310
Certification
Microsoft Dynamics 365
# Of Questions
62
Availability of Exam
Available
Format of Questions
PDF/eBook

Microsoft MB-310 Sample Questions

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 for Finance and Operations.
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 in to 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 future Ledger periods to a status of On Hold.
Does the solution meet the goal?

  • Yes
  • No

Correct Answer: A

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 for Finance and Operations.
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 in to 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’ option to Close All.
✑ Set future Ledger periods to a status of On Hold.
Does the solution meet the goal?

  • Yes
  • No

Correct Answer: B

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 for Finance and Operations.
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 in to 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’ option to Close All.
✑ Set future Ledger periods to a status of On Hold.
Does the solution meet the goal?

  • Yes
  • No

Correct Answer: B

Question #5

A company is preparing to complete a year-end close process.
You need to configure the Dynamics 365 for Finance and Operations General ledger module.
Which three configurations must you use? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

  • Configure the Fiscal year close parameters
  • Configure the ledger calendar for the new fiscal year
  • Configure the transfer balance
  • Validate the main account type
  • Create the next fiscal year

Correct Answer: ADE

Question #6

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?

  • when financial dimensions need to default from the vendor record onto an invoice
  • when only certain dimensions are allowed to post with certain main account combinations
  • when creating multiple balanced ledger entries based on transaction types or accounts
  • when the system needs to automatically post a transaction to the accounts receivable account on invoice posting

Correct Answer: D

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