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NEW QUESTION # 209
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 is preparing to complete yearly budgets.
The company plans to use the Budget module in Dynamics 365 for Finance and Operations for budget management You need to create the new budgets.
Solution: Combine budgets from multiple legal entities to a master budget.
Does the solution meet the goal?
- A. Yes
- B. No
Answer: B
NEW QUESTION # 210
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 sells extended warranty services that use a project fee journal.
You need to recognize unearned revenue for the extended warranty service over time.
Solution: Configure the project ledger posting for the fee category to post to the unearned revenue account, set up a deferral template, configure the deferral default for project fees, and recognize the unearned revenue from the deferral schedule.
Does the solution meet the goal?
- A. Yes
- B. No
Answer: A
Explanation:
Posting the project fee to an unearned revenue (liability) account and using a deferral template with deferral defaults for project fees creates a deferral schedule that recognizes revenue over time. Recognizing the revenue from the deferral schedule ensures the warranty revenue is earned and posted gradually rather than immediately.
NEW QUESTION # 211
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 multiple legal entities set up in Dynamics 365 for Finance and Operations. All companies and data reside in Finance and Operations.
The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Finance and Operations instead.
You need to configure the system and correctly perform eliminations.
Solution: Select Consolidate with import.
Does the solution meet the goal?
- A. Yes
- B. No
Answer: B
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview
Topic 1, Fourth Coffee Case Study
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
Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively.
Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance environment to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes.
The current organizational chart is shown below:
Current environment
Systemwide setup
* Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials.
* All companies share a Chart of Accounts.
* Two dimensions are used: Department and Division.
* Budgeting is controlled at the department level.
* Customers and vendors are defined as two groups: Domestic and International.
* Mandatory credit check is set to No.
* Consolidate online is used for the consolidation of all companies.
* International main accounts are subject to foreign currency revaluation.
* The purchasing budget is used to enforce purchasing limits.
General ledger accounts
Fourth Coffee
* The base currency is USD.
* Three item groups are used: coffee, supplies, and nonstock.
* The standard sales tax method is used.
* Acquiring fixed assets requires a purchase order.
* All customer payment journals require a deposit slip.
* CustomerX is a taxable company.
* CustomerY is a tax-exempt company.
* CustomerZ is a taxable company.
* VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group.
* VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group.
* VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group.
CompanyA
* The base currency is USD.
* It consists of a marketing department and a digital division.
* A 4-5-4 calendar structure is used.
* The standard sales tax method is used.
CompanyB
* The base currency is CAD.
* The conditional sales tax method is used.
Requirements
Reporting
* A consolidated Fourth Coffee financial report is required in USD currency.
* Fourth Coffee and its subsidiaries need to be able to report sales by item type.
* Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments.
Issues
* User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account.
* User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division.
* When User3 posts an Accounts receivable payment journal, a deposit slip is not generated.
* User4 observes an increase in procurement department expenses for supplies.
* User5 observes that sales tax is not calculating on a sales order for CustomerZ.
* User6 observes that sales tax is calculating for CustomerY.
* User7 observes that the sales tax payment report is excluding posted invoice transactions.
* User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form.
* User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets.
* CustomerX requires a credit check when making a purchase and is currently at their credit limit.
NEW QUESTION # 212
The controller at a company has multiple employees who enter standard General ledger journals. The controller wants to review these journal entries before they are posted. Currently, journals entries are posted without review.
You need to configure Dynamics 365 Finance to help set up a system led review process to meet the controller's needs.
Which functionality should you configure?
- A. a Ledger daily journal workflow that uses the organizational hierarchy for journal posting, associated with the General ledger
- B. the controller's security role so that he has approval privileges for General ledger journals
- C. a manual journal approval with the journal assigned to the user group that the employees are assigned to
- D. an Advanced ledger entry workflow that uses the organizational hierarchy for journal posting, associated with the Advanced ledger journal name
Answer: C
NEW QUESTION # 213
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to apply a constant currency exchange rate to calculate the reporting currency value of fixed assets.
To complete this task, sign in to the Dynamics 365 portal.
Answer:
Explanation:
See explanation below.
Explanation
The currency Translation Type needs to be set to Current. This option uses the last rate on or before the period specified in the report regardless of what the exchange rate was at the time of purchase for each asset.
Navigate to General Ledger > Chart of Accounts > Accounts > Main Accounts.
Select the Financial Reporting account.
In the Reporting currency exchange rate type, select Current from the drop-down list.
Click Save to save the changes.
NEW QUESTION # 214
A private sector client needs item groups set up to support the procurement process.
The Audio Item group posting for a purchase order is configured as shown:
Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 215
A client is using the budget planning process in Dynamics 365 for Finance and Operations.
Your client requires the ability to plan for a one-year, three-year, and five year-budget.
You need to configure the various year length options to be used in the budgeting module.
What should you do?
- A. Configure budget allocation terms
- B. Configure budget control
- C. Configure budget cycles
- D. Configure budget codes
Answer: D
Explanation:
Section: Topic 4, Manage budgeting and fixed assets
Explanation/Reference:
NEW QUESTION # 216
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 multiple legal entities set up in Dynamics 365 Finance. All companies and data reside in Dynamics 365 Finance.
The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Dynamics 365 Finance instead.
You need to configure the system and correctly perform eliminations.
Solution: Create a separate company in which you manually create the eliminations. Then, use that company in financial reporting or in the consolidation process.
Does the solution meet the goal?
- A. Yes
- B. No
Answer: A
Explanation:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview
NEW QUESTION # 217
Hotspot Question
A company is implementing Dynamics 365 Finance.
The company purchases fixed assets using a purchase order. The company must post tax- specific transactions related to the fixed assets so the transactions can be reported separately.
You need to configure the system.
What should you configure? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
Box 1: Depreciation methods
When you use a method where the asset is automatically created and acquired, you can set up the system to verify whether the purchase amount of the fixed asset meets a specified capitalization threshold for asset depreciation. If so, the Depreciation option will be selected in the books for the asset when it is created from Accounts payable.
Box 2: Posting layers
Post fixed asset transactions to posting layers.
Fixed asset journals are defined by using the Journal names page at General ledger > Journal setup > Journal names. Each journal that you can post depreciations in is defined by its journal name for only one posting layer.
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/fixed-assets/acquire-assets-procurement
https://docs.microsoft.com/en-us/dynamics365/finance/fixed-assets/post-fixed-asset-transactions-posting-layers
NEW QUESTION # 218
You need to setup a process of tracking, recording, and analyzing costs associated with the products or activities of a nonmanufacturing organization.
You need to configure the prerequisite setup for the standard costing version for the current period.
In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.
Answer:
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/cost-management/prerequisites-s
NEW QUESTION # 219
A company plans to use Dynamics 365 for Finance and Operations. You need to configure basic budgeting. Which set of actions must you perform?
Which set of actions must you perform?
- A. Option B
- B. Option C
- C. Option A
- D. Option D
Answer: D
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/basic-budgeting-overview-configuration
NEW QUESTION # 220
A company uses Dynamics 365 Finance.
You need to use the advanced bank reconciliation feature to reconcile bank transactions.
In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.
Answer:
Explanation:
Explanation:
NEW QUESTION # 221
A company plans to allocate revenue across occurrences by using recognition basis.
Which recognition basis can you use?
- A. First of next month
- B. First of month
- C. Mid-month split
- D. Monthly by days
Answer: D
NEW QUESTION # 222
A company uses Dynamics 365 Finance. The company is setting up budget control parameters.
The company requires specific user groups to be able to exceed the budget.
You need to configure budget control for the user groups.
What should you do?
- A. Define budget control rules.
- B. Configure over-budget permissions.
- C. Define financial dimensions.
- D. Assign budget models to budget cycles.
Answer: B
Explanation:
Configuring over-budget permissions allows you to specify which user groups are permitted to exceed budget limits in Dynamics 365 Finance. This directly controls budget enforcement behavior by user group during transaction entry and approval.
NEW QUESTION # 223
You are configuring vendor collaboration security roles for external vendors. You manually set up a vendor contact.
You need to assign the Vendor (external) role to this vendor.
Which tasks can this vendor perform?
- A. Add a new or existing contact person to the vendor accounts that they are a contact for
- B. Request a new user account for a contact person by using the Provision user action
- C. View consignment inventory
- D. View and modify contact person information, such as the person's title, email address, and telephone number
Answer: C
Explanation:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/procurement/set-up-maintain-vendor-collaboration
NEW QUESTION # 224
A rental service company with complex accrual requirements has accrual schemes set up in its implementation. They want to use defined accrual schemes to perform transactions.
You need to use an accrual scheme to create transactions for this company.
Which actions should you perform? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 225
You need to configure settings to resolve User1's issue.
Which settings should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
NEW QUESTION # 226
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?
- A. when creating one offset ledger entry based on transaction type
- B. when using encumbrance accounting for purchase orders
- C. when the system needs to automatically post a transaction to the accounts receivable account on invoice posting
- D. when financial dimensions need to default from the main account onto an invoice
Answer: B
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/posting-definitions
NEW QUESTION # 227
You are the controller for an organization. The company purchased six service trucks. You observe that your accountant set up Fixed assets - vehicles in the wrong fixed asset group.
You need to achieve the following:
Change the fixed asset group so that the existing fixed asset transactions for the original fixed asset are canceled and regenerated for the new fixed asset.
Ensure that all value models for the existing fixed asset are created for the new fixed asset. Any information that was set up for the original fixed asset is copied to the new fixed asset.
Close the old fixed asset number in the old fixed assets group and create a new fixed asset number in the new fixed assets group.
Ensure that the historical transactions are transferred to the new fixed asset.
Ensure Historical Depreciation expense entries do not change.
What should you do?
- A. Reclassify the fixed asset
- B. Transfer the fixed asset
- C. Change the fixed asset group and keep the same fixed asset number
- D. Copy the fixed asset
Answer: A
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/fixed-assets/tasks/reclassify-fixed-a
NEW QUESTION # 228
A client plans to use the cost accounting module in Dynamics 365 for Finance and Operations. You need to associate the correct definitions to the correct cost accounting concepts. Which terms match the definitions?
To answer, select the appropriate configuration in the answer are3. NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cost-accounting/terms-cost-accounti
NEW QUESTION # 229
An organization uses Dynamics 365 for Finance and Operations.
Several posted journal entries contain invalid main account and dimension combinations. This leads to incorrect financial reporting.
You need to prevent these invalid combinations.
What should you do?
- A. Configure financial dimension sets to limit which financial dimensions are valid for which main accounts.
- B. Configure the account structure to specify which financial dimensions are valid for which main accounts.
- C. Train users to select the Validate button in the current journal configuration so that the correct account and dimension combination is used.
- D. Associate the correct main accounts to that financial dimension on the financial dimension setup form.
Answer: B
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/configure-account-st
NEW QUESTION # 230
Hotspot Question
A company uses Dynamics 365 Finance. The company includes six departments that participate in the budget planning process.
The finance department generates a previous year budget scenario. You must generate a new baseline scenario that is based on the previous year's budget scenario.
Department managers must be able to enter their budget requests in the baseline scenario. All department requests must be made available to the finance department so that they can determine the total budget funds requested and approve the budget scenario.
You need to configure the allocation schedule.
How should you configure the schedule for the baseline scenario? To answer, select the appropriate options in the dialog box in the answer area.
NOTE: Each correct selectin is worth one point.
Answer:
Explanation:
NEW QUESTION # 231
You manage a Dynamics 365 Finance implementation.
New system users are incorrectly posting payment transactions. You must use payment controls for bank payments by using checks for customer's due invoices to restrict new users from posting to customer payment journals.
You need to set up payment control for validation while using a method of payment in a journal entry. Which actions should you use? To answer, select the appropriate options in the answer area.
Answer:
Explanation:
NEW QUESTION # 232
A company has delinquent customers.
You need to configure Dynamics 365 for Finance and Operations to meet the following requirements:
* Send communication to the customers detailing their past-due invoices.
* Use the system to automatically calculate a late charges,
* Create a group of customers for a collection agent to monitor.
* View a list of customers with colored indicators of a customer's payment status.
You need to associate the correct system functionality to manage delinquent customers based on these business requirements.
Answer:
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/tasks/review-co
NEW QUESTION # 233
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