Microsoft Microsoft Certifications MB-340 Questions & Answers

• Question 111:

  You work as a Finance Manager for a public sector company. The company uses Microsoft Dynamics 365 Finance.

  You need to configure fund types.

  Which three of the following fund types fall under the Governmental Funds fund class? (Choose three)

  A. General fund

  B. Trust funds

  C. Capital project funds

  D. Enterprise funds

  E. Debt service funds

  Correct Answer: ACE

• Question 112:

  You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system.

  The company has a main office and eight branch offices. Three more branch offices are currently under construction.

  You need to ensure that advertising expenses are balanced across the eight branch offices.

  The advertising costs will be balanced across all eleven branch offices when the three new offices are complete.

  Which option should you select in the ledger allocation configuration?

  A. Fixed percentage

  B. Basis

  C. Fixed weight

  D. Equally

  Correct Answer: D

  https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules

• Question 113:

  You work as a Financial Consultant. You have been hired by a company to manage the Microsoft Dynamics Finance 365 system.

  You need to configure a journal to use for vendor invoices.

  You need to determine which journal type to use to post vendor invoices that have been approved to the appropriate ledger accounts.

  Which journal type should you use?

  A. Vendor invoice pool

  B. Vendor invoice recording

  C. Approval

  D. Vendor disbursement

  Correct Answer: C

• Question 114:

  You work as a Financial Consultant. You have been hired by a company to manage the Microsoft Dynamics Finance 365 system. The company consists of two legal entities.

  You need to configure account structures.

  Which two of the following statements are true?

  A. You can create multiple account structures per legal entity.

  B. Account structures cannot be reused across multiple legal entities.

  C. If you change an account structure, posted transactions are not affected.

  D. There is no limit to the number of segments in an account structure.

  Correct Answer: AC

• Question 115:

  A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant.

  Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team.

  You are providing training on the cost accounting module in the Dynamics 365 Finance system.

  Products, projects, departments, cost center are example of which of the following?

  A. Cost elements

  B. Cost objects

  C. Cost classifications

  D. Cost distribution

  Correct Answer: B

• Question 116:

  You work as a Financial Consultant. You have been hired by a company to manage the Microsoft Dynamics Finance 365 system.

  You need to configure the Microsoft Dynamics Finance system to classify costs according to their behavior in relation to changes in key business activities.

  Which of the following should you configure?

  A. Cost classification

  B. Cost behavior

  C. Allocation base

  D. Cost elements

  Correct Answer: B

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/cost-accounting/terms-cost-accounting

• Question 117:

  You work as the Finance Manager for a company. The company uses Microsoft Dynamics 365 Finance for its accounting system.

  You are configuring the system to ensure that when creating sales orders, the sales tax is automatically calculated when an item is added to a sales order line.

  When testing the configuration, you discover that the sales tax is not calculated for the sales order line.

  You need to verify the configuration.

  Which of the following should you check?

  A. Ensure that the sales tax code is associated with both the sales tax group and the item sales tax group.

  B. Ensure that the sales tax code is associated with the sales tax group but not the item sales tax group.

  C. Ensure that the sales tax code is associated with the item sales tax group but not the sales tax group.

  D. Ensure that the sales tax code is not associated with either the sales tax group or the item sales tax group.

  Correct Answer: A

  https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/media/taxoverview1.jpg

• Question 118:

  A company uses a Microsoft Dynamics 365 Finance.

  Your role of Systems Administrator includes the management of the Microsoft Dynamics 365 Finance system.

  The Financial Director wants a way to view the progress of financial closing processes.

  The solution must provide the ability to view tasks that are past due, remaining tasks for today, tasks that are due today but are blocked because of dependencies, and all remaining tasks for the process.

  Which of the following should you configure?

  A. Financial reports

  B. Financial period close workspace

  C. Business Process Flow

  D. Financial insights workspace

  Correct Answer: B

• Question 119:

  You work as a Financial Consultant. You have been hired by a company to manage the Microsoft Dynamics Finance 365 system.

  You need to configure the Microsoft Dynamics Finance system to spread costs from one cost object to one or more other cost objects by applying a relevant allocation base.

  Which of the following should you configure?

  A. Cost allocation policy

  B. Cost behavior

  C. Cost elements

  D. Cost distribution

  Correct Answer: D

  Reference: https://docs.microsoft.com/en-us/dynamics365/finance/cost-accounting/terms-cost-accounting

• Question 120:

  A company has recently deployed Microsoft Dynamics 365 Finance.

  You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team.

  You are providing training on the cost accounting module in the Dynamics 365 Finance system.

  Which of the following statements describes a cost entry?

  A. Used to distribute cost from one cost object to one or more other cost objects by applying a relevant allocation base.

  B. Used to allocate the balance of a cost object to other cost objects by applying an allocation base

  C. Represents the cost structure. The structure determines how cost flows in a hierarchical order between cost object dimensions and their respective cost objects.

  D. The result of a transfer via data connectors from general ledger entries, cost allocations, and posted cost entries in cost journals.

  Correct Answer: D

  Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cost-accounting/terms-cost-accounting