Microsoft MB6-702 Online Practice Questions and Exam Preparation

Microsoft MB6-702 Online Questions & Answers

• Question 21:

  What is the purpose of an account structure?

  A. To assign a default offset account to a main account
  B. To define the valid main account and financial dimension combinations
  C. To classify and group main accounts for analysis purposes
  D. To control how transactions are sorted and fields are printed on reports
  B. To define the valid main account and financial dimension combinations

  ---

  A relational chart of accounts uses an account structure that requires that you set up valid accounts and financial dimension values, and then set up rules to specify how the accounts and dimensions will come together to create account structures. Setting up valid combinations helps make sure that data entry is accurate.

  Reference: About the Configure account structures form [AX 2012]

• Question 22:

  The encumbrance process is enabled in your Microsoft Dynamics AX environment.

  A buyer for your organization creates a purchase order for a $10,000 contract with a lawyer who is providing legal advice related to a claim. You post an invoice for $2,000 from the lawyer for the cost of his services so far.

  What is the encumbrance amount for the contract with the lawyer after the invoice is posted?

  A. $2,000
  B. $8,000
  C. $10,000
  D. S12,000
  B. $8,000

  ---

  Example

  You create a purchase order with 35,000.00 in encumbered funds for the expected purchase of computers and related items. You later create and confirm a vendor invoice for a 22,000.00 purchase from a computer vendor. The relieved

  amount of the encumbrance is 22,000.00 and the remaining amount of the encumbrance is 13,000.00.

  Reference: Encumbrance summary (form) [AX 2012]

• Question 23:

  You need to update the organization hierarchy to prepare for a reorganization of your business. Which effective date is valid when you publish the updated hierarchy?

  A. Any of the published effective dates
  B. Any day after the last published effective date
  C. Any day between two of the published effective dates
  D. The last published effective date
  B. Any day after the last published effective date

  ---

  Modify a hierarchy

  If a reorganization, merger, or acquisition occurs, you must modify existing organizational hierarchies. You can view or change a hierarchy as of any future date or as of an effective date that has been published. However, you cannot publish

  updates to the hierarchy between existing effective dates. Changes must take effect after the last effective date that was published for the hierarchy. If you must make a correction, you can delete the last future published version of a

  hierarchy. In the Future changes FactBox, click More to open the Future change dates form. Click Delete latest date.

  Reference: Create or modify an organization hierarchy [AX 2012]

  Note: When you publish a hierarchy, you must specify an effective date. The effective date indicates when the hierarchy becomes active.

• Question 24:

  You are using a voucher template to create a journal voucher. The template type is Percent. The template has four lines with the following amounts:

  

  First line: $100

  

  Second line: $200

  

  Third line: S300

  

  Fourth line: $400

  When prompted for a voucher amount you enter $2,000.

  What is the default amount on the third line of the journal voucher?

  A. $150
  B. $300
  C. $600
  D. $2,000
  C. $600

  ---

  300/1000*2000=600

  Note: Percent Use this template type if the total amount of the expense varies from period to period, such as a telephone expense that is allocated to several departments. When you use the template, you can enter the amount of the new

  transaction. The offset amounts are distributed to the lines according to the percentage of the original voucher total that is represented by each voucher line.

  Reference: Enter and post invoices for recurring expenses [AX 2012]

• Question 25:

  You need to pay all open invoices that have a due date on or before July 10.

  You want to take advantage of any available discounts.

  Which two settings must you select when creating the payment proposal? Each correct answer presents part of the solution.

  A. In the Payment to date field, select July 10.
  B. In the Minimum date field, select July 10
  C. In the Proposal type field, select Due date and cash discount.
  D. In the Proposal type field, select Due date.
  B. In the Minimum date field, select July 10
  C. In the Proposal type field, select Due date and cash discount.

  ---

  B: Field: Minimum date Enter the earliest date for the payment. This date is used as the payment date if the date that is calculated for the payment proposal occurs before the date that is entered in this field. For example, if you create the payment proposal on February 1 but you want the payments to be dated no earlier than February 5, enter February 5 in this field.

  C: Field: Proposal type Select the proposal type:

  *

  Due date and cash discount First, include open transactions that are eligible for a cash discount. Then, include open transactions, according to due date.

  *

  Per due date Include open transactions that are due in the range of dates that is specified for the proposal.

  *

  By cash discount Include open transactions that are eligible for a cash discount in the range of dates that is specified for the proposal.

  Incorrect:

  Not A: There is no Payment to date field.

  Reference: Vendor payment proposal (class form) [AX 2012]

• Question 26:

  When you post an invoice, you receive an error message.

  Which two actions does the system apply to the invoice? Each correct answer presents a complete solution.

  A. The error log is presented to the user and then deleted.
  B. The error log is presented to the user and then saved.
  C. The invoice is placed in the pending vendor invoices list.
  D. The invoice is placed on hold.
  B. The error log is presented to the user and then saved.
  D. The invoice is placed on hold.

  ---

  D: If the invoice was on hold and all problems with the invoice have been corrected, clear the On hold check box. You cannot post invoices that are on hold.

  B: The error log files are created for each day. When the first error occurs during the day, the error log file is created, and the error message is appended to the newly created error log file. All subsequent error messages are appended to the existing error log file for the day.

  Note: IDMF (Intelligent Data Management Framework) logs error events in a log file in a folder named Log under the installation folder. The default installation path is C:\Program Files\Microsoft Dynamics AX Intelligent Data Management

  Framework. IDMF creates the log file when the first error message is generated. The file is named trace_mm-dd-yyyy.log, with mm-dd-yyyy providing the current month, day, and year. The IDMF scheduler service creates an error log file

  called servicetrace_mm-dd-yyyy.log.

  Incorrect:

  Not C: Pending invoices (form) [AX 2012]

  Use this form to view vendor invoices that have been saved and matched to product receipts, but not posted.

  Reference: Key tasks: Vendor invoices [AX 2012]

  Troubleshoot the Microsoft Dynamics AX Intelligent Data Management Framework (IDMF) [AX 2012]

• Question 27:

  You need to revalue the foreign currency transactions in the Accounts payable subledger.

  Which two statements describe what the foreign currency revaluation job accomplishes? Each correct answer presents a complete solution.

  A. Settled vendor transactions are revalued by using the effective exchange rate for the specified date.
  B. Open vendor transactions are revalued by using the effective exchange rate for the specified date.
  C. The differences between the original posted amounts and the revalued amounts are posted to vendor accounts as unrealized transactions.
  D. The differences between the original posted amounts and the revalued amounts are posted to vendor accounts as realized transactions.
  B. Open vendor transactions are revalued by using the effective exchange rate for the specified date.
  C. The differences between the original posted amounts and the revalued amounts are posted to vendor accounts as unrealized transactions.

  ---

  B (not A): The job uses a new exchange rate to revalue the amounts that were open, or not settled, on a specified date.

  C: The differences between the original posted amounts and the revalued amounts are posted to the ledger. The differences are also posted to vendor accounts as unrealized transactions of the foreign currency revaluation. Reference: About foreign currency revaluations for open vendor transactions [AX 2012]

• Question 28:

  You are implementing Microsoft Dynamics AX 2012.

  You need to set up invoices for payment so they are summed up for the payment proposal period. Which period option should you choose?

  A. Invoice
  B. Total
  C. Date
  D. Week
  D. Week

  ---

  Select the method by which invoices are summed in the automatic payment proposal period:

  Invoice Create one payment transfer for each invoice. This is the default value for this field. Date - Combine all invoices that have the same due date. Week Combine all invoices that have a due date in the same week. Total Combine all

  invoices from a vendor in the same payment.

  Reference: Methods of payment - vendors (form) [AX 2012]

• Question 29:

  Your company plans to implement vendor invoice matching.

  Your company policy states that vendor invoices must be reviewed to compare the prices and quantities on the invoices for accuracy.

  You need to configure the invoice matching setup.

  Which type of invoice matching should you configure?

  A. Charges matching
  B. Three-way matching
  C. Invoice totals matching
  D. Two-way matching
  B. Three-way matching

  ---

  Three-way matching Match the price information on the invoice to the price information on the purchase order. Also match the quantity information on the invoice to the quantity information on the product receipts that are selected for the

  invoice.

  Incorrect:

  Not A: Charges matching Match the charges information (amounts) on the invoice to the charges information (amounts) on the purchase order. Not C: Invoice totals matching Match the total amounts on the invoice to the total amounts on the

  purchase order. This type of invoice matching includes the least amount of detail, so you can use this option to set up controls that minimize the staff time that is required to review invoice matching information.

  Not D: 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 30:

  You are entering a customer sales order that has two lines: one line for item A and one line for item B.

  The following statements are necessary to calculate sales tax for the sales order:

  The sales tax group linked to the customer includes sales tax codes ST1, ST2, ST3, and ST4. The item sales tax group linked to item A includes sales tax codes ST1, ST2, and ST5. The item sales tax group linked to item B includes sales tax

  codes ST1, ST3, and ST5.

  You need to calculate sales taxes for each of the sales order lines.

  Which two statements describe how sales taxes are calculated for the sales order? Each correct answer presents part of the solution.

  A. The line with item B is calculated based on sales tax codes ST1 and ST3.
  B. The line with item B is calculated based on sales tax codes ST1, ST3, and ST5.
  C. The line with item A is calculated based on sales tax codes ST1, ST2, and ST5.
  D. The line with item A is calculated based on sales tax codes ST1 and ST2.
  A. The line with item B is calculated based on sales tax codes ST1 and ST3.
  D. The line with item A is calculated based on sales tax codes ST1 and ST2.

  ---

  Transactions that are subject to sales taxes must be associated with both a sales tax group and an item sales tax group. Sales tax is calculated only for the sales tax codes that are included in both the sales tax group and the item sales tax group.

  Reference: Set up and use sales tax codes [AX 2012]