Microsoft MB6-702 Online Practice Questions and Exam Preparation

Microsoft MB6-702 Online Questions & Answers

• Question 11:

  You need to create a budget register entry that will spread the amount you enter into the line across multiple business units based on the revenue from the previous quarter. What should you do?

  A. Create a financial dimension default template and apply it to the budget register entry.
  B. Create a financial dimension set and apply it to the budget register entry.
  C. Create a derived financial hierarchy and apply it to the budget register entry.
  D. Create a budget allocation term and apply it to the budget register entry.
  D. Create a budget allocation term and apply it to the budget register entry.

  ---

  Allocate budget register entries

  You can allocate budget register entries across periods or to financial dimensions.

  Budget allocation terms define the percentage of a budget register entry that is allocated to specific financial dimension values. For example, a percentage of the travel budget can be allocated to various departments.

  Note: Use the Budget allocation terms form to define the financial dimension values and the percentages that are used to generate budget allocations. These budget allocation terms provide an automated way to distribute percentages of

  budget amounts across financial dimension values. For example, a travel budget can be allocated to multiple departments by using one budget account entry.

  Reference: Create budget register entries [AX 2012]

  Incorrect:

  Not C: Derived financial hierarchies give organizations a more flexible approach to grouping transactions for ad hoc analytics. This allows them to categorize transactions without having to expand the account structure to include the additional

  categories or dimensions they want to track.

• Question 12:

  You are configuring budgets for your organization. Your organization uses a scientifically calculated, predefined percentage of direct expenses for each of its departments.

  You need to define these percentages so that the budget automatically allocates to these departments from the main accounts. What should you configure?

  A. Budget period allocation keys
  B. Budget control rules
  C. Budget transfer rules
  D. Budget allocation terms
  D. Budget allocation terms

  ---

  Use the Budget allocation terms form to define the financial dimension values and the percentages that are used to generate budget allocations. These budget allocation terms provide an automated way to distribute percentages of budget amounts across financial dimension values. For example, a travel budget can be allocated to multiple departments by using one budget account entry.

  Reference: Set up budget allocation terms [AX 2012]

• Question 13:

  Your company uses two-way matching to create vendor invoices. Which elements are used in the two-way matching process?

  A. Quantity received and quantity invoiced
  B. Price information on the invoice and price information on the purchase order
  C. Invoice total amount and the total amount on the purchase order
  D. Quantity ordered on the purchase order and quantity invoiced
  B. Price information on the invoice and price information on the purchase order

  ---

  Two-way matching Match the price information on the invoice to the price information on the purchase order. Reference: About Accounts payable invoice matching [AX 2012]

• Question 14:

  Which three transaction types can you use to dispose of an asset? Each correct answer presents a complete solution.

  A. Provision for reserve
  B. Write off
  C. Extraordinary depreciation
  D. Sale
  E. Scrap
  B. Write off
  D. Sale
  E. Scrap

  ---

  BDE: There are three ways to create a disposal transaction:

  *

  Fixed Assets write-off This transaction is entered in the fixed assets journal, and the write-off transactions for the booked value and booked depreciation for the asset are created. The status of the asset changes to Written off

  *

  Leaving (sale) This transaction represents a fixed asset sale and can be entered in Accounts receivable or in the fixed assets journal. Several transactions are created in the ledger, based on the posting profile configuration. The status of the asset changes to Written off (sale).

  *

  Leaving (dismantlement) This transaction is entered in the fixed assets journal. Transactions are created in the ledger, and the remaining value of the asset after it has been dismantled is transferred to the warehouse. The status of the asset changes to Written off (dismantlement).

  Reference: Fixed asset disposal [AX 2012]

  DE: This information explains how to set up transactions for disposing of assets by selling or scrapping them.

  In the Fixed asset posting profiles form, on the Ledger accounts FastTab, select Disposal - sale and Disposal - scrap to set up postings to the ledger. For both transaction types, the ledger account is credited for the disposal value of the fixed

  asset.

  Reference: About fixed asset disposal [AX 2012]

• Question 15:

  Your organization uses Microsoft Dynamics AX.

  You need to set up journal names for the General journal.

  Which journal type should you specify?

  A. Allocation
  B. Periodic
  C. Approval
  D. Daily
  B. Periodic

• Question 16:

  Where do you define the Main account information for bank and cash subledger journal account transactions?

  A. On the Bank document posting profiles form
  B. On the Bank transaction groups form
  C. On the Bank groups form
  D. On the Bank accounts form
  D. On the Bank accounts form

  ---

  Reference: Bank accounts (form) [AX 2012]

• Question 17:

  Which three methods can you use to assign bar codes to fixed assets? Each correct answer presents a complete solution.

  A. Automatically assign the bar codes when you create fixed assets.
  B. Assign the bar codes to fixed assets groups.
  C. Automatically assign the bar codes based on the fixed asset journal type.
  D. Assign the bar codes to current fixed assets.
  E. Manually assign the bar codes when you create fixed assets.
  B. Assign the bar codes to fixed assets groups.
  D. Assign the bar codes to current fixed assets.
  E. Manually assign the bar codes when you create fixed assets.

  ---

  You can assign bar codes to fixed assets when fixed assets are created, to current fixed assets, or to fixed asset groups. Reference: Assign fixed asset numbers to bar codes [AX 2012]

• Question 18:

  Which entity is used to define sales tax percentages or amounts?

  A. Sales tax groups
  B. Sales tax authorities
  C. Item sales tax groups
  D. Sales tax codes
  D. Sales tax codes

  ---

  When you set up sales tax codes, you define the amounts or percentages that must be collected. You also define the various methods by which those amounts or percentages are applied to transaction amounts. Reference: General ledger roadmap [AX 2012]

• Question 19:

  Which three settings can be defined when configuring budget control? Each correct answer presents a complete solution.

  A. The source documents and accounting journals that are subject to budget control
  B. The main accounts and financial dimensions to be checked
  C. The budget planning stages
  D. The workflow approvals required when the budget is exceeded
  E. The budget funds that are available
  A. The source documents and accounting journals that are subject to budget control
  B. The main accounts and financial dimensions to be checked
  D. The workflow approvals required when the budget is exceeded

  ---

  A: Budget control is available for source documents and accounting journals.

  B: Define budget control parameters

  1.

  Click Budgeting > Setup > Budget control > Budget control configuration.

  2.

  Select an account structure. If you have multiple active account structures in the chart of accounts, select the account structure that will be used for profit and loss or expense accounts. This account structure includes the main account range for expense accounts. After you select an account structure, all the financial dimensions in that account structure that were defined for budgeting are displayed in the Budget dimensions list.

  3.

  Select a financial dimension and move it to the Budget control dimensions list. Etc

  D: 6. Select a budget manager, which is a user who can approve budget workflows. Another budget manager can be defined by using a budget control rule.

  7.

  In the Budget threshold field, enter the percentage of the budget that can be spent. The threshold can be used to provide warning messages or to define budget permissions to prevent specific user groups from exceeding the budget threshold. This threshold can exceed 100 percent.

  8.

  Select the Display a message when exceeding budget threshold check box to display messages when the budget threshold is exceeded. Reference: Set up budget control [AX 2012]

• Question 20:

  You are setting up cash flow forecasting in Microsoft Dynamics AX 2012. You need to ensure that the budget entries are shown in the cash flow. Which action should you perform?

  A. Set up the settle accounts for the vendor/customer posting profiles to include with the budget accounts.
  B. Set up the cash flow forecast in the Accounts receivable and Accounts payable modules.
  C. Include the cash flow forecast for the budget model.
  D. Calculate the cash flow forecasts for the budget accounts.
  C. Include the cash flow forecast for the budget model.

  ---

  You can include budgets that are created from budget models in cash flow forecasts.

  1.

  Click Budgeting > Setup > Basic budgeting > Budget models.

  2.

  If you want the cash flow forecast to include budgets that are based on a specific budget model, select the Cash flow forecasts check box on the General FastTab. Close the form.

  3.

  Click General ledger > Common > Main accounts.

  4.

  Select a main account that is based on the budget model from step 2, and that you want to include in the cash flow forecast. On the Action Pane, click Edit.

  5.

  In the Select the level of main account to display field, select Companies, and then select a legal entity in the Companies field. On the Setup FastTab, click Cash flow forecast.

  Etc.

  Reference: Include budgets in cash flow forecasts [AX 2012]