Confidently Practice Online with Free MB-310 Exam Cram

A legal entity has locations and customers in multiple states within the United States. You need to ensure that taxable customers are charged sales tax for taxable items in their delivery location. Which three settings must you configure? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point. 

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 company uses Dynamics 365 Finance.

The customer payment journal must only be available for selection by the accounts receivable user group.

You need to configure the accounts receivable journal name to meet the requirement.

Solution: Configure the journal approval.

Does the solution meet the goal?

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 company uses Dynamics 365 Finance.

The company must release all customer orders that are on hold for a specific customer.

You need to process the release.

Solution: Change the value of the account status.

Does the solution meet the goal?

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 one legal entity, two departments, and two divisions. The client is implementing Dynamics 365 Finance. The departments and divisions are set up as financial dimensions. The client has the following requirements: Only expense accounts require dimensions posted with the transactions. Users must not have the option to select dimensions for a balance sheet account. You need to configure the ledger to show applicable financial dimensions based on the main account selected in journal entry. Solution: Configure one account structure for expense accounts and include applicable dimensions. Does the solution meet the goal? 

Introductory Info 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 -

First Up Consultants is a global finance and accounting company.

Financial needs at organizations are constantly changing. When global companies become too large, it becomes too difficult for them to scale to meet their global operational needs. First Up Consultants provides `Finance as a Service` capabilities.

Some large corporations complement their existing finance staff by engaging select services of First Up Consultants. Other large corporations outsource their entire finance operation to First Up Consultants.

First Up Consultants has hundreds of customers at any time. One such customer, Humongous Insurance, is updating its Dynamics Finance 365 implementation.

Another customer, Trey Research, is setting up its first Dynamics 365 Finance implementation.

Current environment -

Ledger -

Humongous Insurance is a US-based company and operates its fiscal year from January 1 to December 31. Humongous Insurance reports across all its subsidiaries in consolidated financial reports.

Trey Research is a Canadian-based company that operates its fiscal year from April 1 to March 31.

Humongous Insurance employees receive an annual cost of living increase.

Requirements -

Ledger -

One of Humongous Insurance's companies provides insurance to government clients and must separate that particular company into its own subsidiary.

The Humongous subsidiary will operate in China, which requires a fiscal year from February 1 to January 31.

Transactions must be posted in the business of record.

Humongous Insurance's subsidiary requires accounting entries to be posted from the subledger to the general ledger by 5:00 PM each day.

Trey Research requires accounting entries to be posted from the subledger to the ledger immediately.

Fiscal calendars -

You must create three new fiscal calendars:

A fiscal calendar named FebJan that runs from Feb 1 to Jan 31.

A fiscal calendar named AprMar that runs from April 1 to March 31.

A fiscal calendar named JanDec that runs from January 1 to December 31.

Accounts -

Trey Research must track bank account balances and transactions for each province in which it operates.

The bank statement must be sent to the physical address of the home office.

Promotion -

Humongous Insurance's subsidiary plans to celebrate its new subsidiary status by sending out free gifts to existing policyholders based on the tier of their policy.

Promotional items are ordered for distribution and once received must be tracked within Dynamics 365 Finance.

Taxes -

As part of the spinoff to a subsidiary, Humongous Insurance's subsidiaries taxes must be changed from US government rates to Chinese government rates.

Humongous Insurance's subsidiary must track use taxes that are not claimed or reported to the Chinese tax agency.

Reporting -

The CEO of Humongous Insurance needs to view the insurance products that customers plan to purchase. The report must show all transactions made over the last two years.

The corporate vice president of Humongous Insurance's subsidiary needs to view the forecasted cash impact of specific products purchased. The report must show only new transactions.

Expenses -

Expenses must be paid using the following requirements:

Credit card processing -

Humongous Insurance requires all credit card transactions to include line-item details.

Humongous Insurance's subsidiary requires the shipping address, merchant address, and tax information, but cannot include any order line details.

Trey Research requires all credit card transactions include transaction date, transaction amount, description, and line-item details.

Compliance and compensation -

Trey Research must be able to audit any modifications to its budget.

Humongous Insurance employees must receive raises four times per budget cycle. Question

HOTSPOT 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.