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Microsoft Dynamics 365 Finance Functional Consultant

MB-310
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Get ready for the MB-310 exam to validate your expertise in Microsoft Dynamics 365 Finance.

144 questions 0 views Free
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Questions 31–40 of 144

Q31

Which financial statement provides a summary of revenues and expenses?

  • A Balance Sheet
  • B Income Statement
  • C Cash Flow Statement
  • D Statement of Equity
Explanation The Income Statement summarizes revenues and expenses, unlike the other options which focus on different aspects of financial data.
Q32

A company needs to configure a new payment method in Dynamics 365 Finance. Which area should they navigate to first?

  • A Cost Management
  • B Accounts Payable
  • C Cash and Bank Management
  • D Sales and Receivables
Explanation Payment methods are configured under Cash and Bank Management, while the other areas manage different finance functions.
Q33

What happens when a user tries to modify a closed financial period in Dynamics 365 Finance?

  • A Modification is allowed with a warning
  • B An error message is shown
  • C Changes are applied automatically
  • D System crashes damaging data
Explanation An error message is shown because modifying closed periods is prohibited, ensuring data integrity, while the other options imply incorrect behavior.
Q34

Which module allows tracking and managing customer payments in Dynamics 365 Finance?

  • A Accounts Receivable
  • B Inventory Management
  • C Accounts Payable
  • D Project Management
Explanation Accounts Receivable manages customer payments; the others do not focus on payments.
Q35

A company needs to recognize revenue from a contract over time rather than at a point in time. Which revenue recognition method should they use?

  • A Completed contract method
  • B Percentage of completion method
  • C Cost recovery method
  • D Installment sales method
Explanation The percentage of completion method is used for over-time revenue recognition; the other methods do not apply to this scenario.
Q36

You are configuring security roles in Dynamics 365 Finance. What happens when you assign a user a role that has restricted access to financial data?

  • A They gain full access by default
  • B They have no access to that data
  • C They can view but not update it
  • D They can override restrictions with approvals
Explanation Restricted roles grant no access to data; the other options imply incorrect behaviors of roles.
Q37

Which financial statement displays a company's performance over time?

  • A Income Statement
  • B Balance Sheet
  • C Cash Flow Statement
  • D Statement of Changes in Equity
Explanation The Income Statement shows revenue, expenses, and profit over a period, while the others serve different purposes.
Q38

A company needs to set up a workflow that requires approval for all purchase orders above $10,000. Which feature in Dynamics 365 should they utilize?

  • A Vendor Management
  • B Purchase Order Processing
  • C Business Process Flow
  • D Approval Workflow
Explanation The Approval Workflow allows for purchase order approvals based on specified conditions, unlike the other options.
Q39

You are configuring an invoice matching policy. What happens when a tolerance level is exceeded?

  • A Invoice auto-approved
  • B Invoice blocked for review
  • C Email notification sent
  • D System generates a report
Explanation Exceeding the tolerance level typically leads to invoice blockage for further approval, not automatic processing or notifications.
Q40

Which configuration option affects approval workflows in D365 Finance?

  • A Purpose codes
  • B User groups
  • C Approval hierarchies
  • D Vendor categories
Explanation Approval hierarchies define the sequence of approvers, while others do not directly impact workflows.