Free Microsoft MB-310 Exam Questions

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. 

You manage fixed assets using Microsoft Dynamics 365 Finance. You need to define capitalization thresholds. Which page should you use?

A company uses Microsoft Dynamics 365 Finance to manage customer support contracts. You need to validate a revenue recognition schedule for a customer. In which two pages can you view the revenue recognition schedule? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point 

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 -

Alpine Ski House has three partially owned franchises and 10 fully owned resorts throughout the United States and Canada. Alpine Ski House's percentage ownership of the franchises is between two and 10 percent.

Alpine Ski House is undergoing an implementation of Dynamics 365 Finance and Dynamics 365 Supply Chain Management to transform their financial management and logistics capabilities across the franchises. Implementation is complete for Alpine Ski House's corporate offices, two US franchises, and one

Canadian franchise. The remaining franchises are in varying stages of the implementation. Two new resort projects are in the budget planning stages and will open in the next fiscal year.

Current environment -

Organization and general ledger -

Each franchise is set up as a legal entity in Dynamics 365 Finance.

Alpine Ski House Corporate uses financial dimensions for their fully owned resorts.

Each resort is a financial dimension named resort.

Each fully owned resort has two divisions: marketing and operations.

Only Profit and Loss account postings require the division dimension.

Corporate handles the advertising and administration of the fully owned resorts.

Corporate uses Dynamics 365 Project Management and Accounting to manage construction of new resorts.

Budgeting -

Organizational budgeting is decentralized but rolls up to one organizational corporate budget.

Each resort manager performs budgeting in Dynamics 365 Finance.

Budget preparation begins this month. All operational resorts will submit their budgets in two weeks.

Sales and tax -

Sales tax is configured and used by all resorts that operate in the United States.

You configure one US sales tax vendor account and assign the vendor account to the settlement periods for reporting.

You use accounts receivable charges to track donations.

Existing purchasing contracts -

Each franchise resort has an individual contract with a local supplier of their choosing to purchase at least $10,000 worth of suppliers during the calendar year.

The franchise resorts in one US state receive a two percent discount on meat and vegetable purchases in excess of $8,000 per year.

A franchise resort in Utah has agreed to purchase 1,000 units of beef at market price from a local supplier.

Alpine Ski House uses a vendor collaboration portal to track purchase orders and requests for quotes.

Vendors request access to the vendor collaboration portal by using a workflow which runs on a nightly schedule.

Intercompany setup -

Vendor123 resides in US franchise Company1 and is set up for intercompany transactions. Customer345 resides in Canada franchise Company1 and is set up for intercompany transactions.

Requirements -

Franchises -

Each franchise must pay two percent of monthly sales to Alpine Ski House Corporate.

Each franchise must report their own financials to Alpine Ski House Corporate monthly.

US franchises require a three-way-match on all purchases, with a 1-percent price tolerance.

Canadian franchises require a three-way-match on all purchases except paper products, which have a 10-percent price tolerance.

Corporate -

Advertising costs must be balanced across the 10 resorts monthly. These costs must be split across the 12 resorts once construction of the final two resorts is completed.

Administration costs must be split across the 10 resorts proportional to the amount of sales generated.

One percent of all pack and individual ski pass sales must be donated quarterly to an environmental protection organization.

The finance department must be able to see purchasing contracts and discounts for vendors based on volume spend.

Employees -

All employee expense reports that contain the word entertainment must be reviewed for audit purposes. If a journal is posted incorrectly, the entire journal and not just the incorrect line must be fully reversed for audit purposes.

Resorts -

All resorts must use Dynamics 365 Finance for budgeting and must first be approved by the regional manager. Purchased fixed assets must automatically be acquired at product receipt.

Issues -

User1 reports that irrelevant dimensions display in the drop down when entering a General journal.

User2 reports that dimension 00 is being used for all balance sheet accounts.

User3 tries to generate the quarterly sales tax liability payment for a specific state but does not see any payables available for that state's vendor.

User4 receives a call from a vendor who cannot access the vendor collaboration portal but needs immediate access.

User5 notices a large amount of entertainment expenses being posted without an audit review.

User6 needs to have visibility into the increase in budget that is necessary to staff the two new resorts opening next year.

User7 needs to use Dynamics 365 Finance for situational budgeting planning with the ability to increase and decrease the existing plans by certain percentages.

User8 made a mistake while posting a 1,000-line journal and reverses the entire journal but cannot find the lines that included errors during the reversal.

User9 made a mistake while posting a 55-line journal and reverses the entire journal.

User10 realizes that the purchase of five new computers did not acquire five new fixed assets upon receipt. Question 

You need to resolve the issue that User4 reports. What should you do?

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.