Microsoft MB6-702 Online Practice Questions and Exam Preparation

Microsoft MB6-702 Online Questions & Answers

• Question 51:

  You are the administrator for a multinational corporation (MNC). The corporation uses multiple chart of accounts and their corresponding financial dimension sets to meet the requirements of different regions. Each region is defined as a separate legal entity. You have defined multiple account structures as a combination of chart of accounts and dimensions.

  You need to assign these account structures to a specific region.

  Which form should you use to accomplish this goal?

  A. Posting definitions
  B. Ledger
  C. Configure account structures
  D. Ledger allocation rule
  B. Ledger

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  1.

  Click General ledger > Setup > Ledger.

  2.

  Select a chart of accounts.

  3.

  To add an account structure to the ledger, click Add, and then double-click an account structure. You can also click Configure account structures to create account structures. You must select at least one account structure before you can record a source document or journal entry for the legal entity that the ledger is created for.

  4.

  Optional: Select the financial dimension that must be balanced in all accounting entries. If you select a balancing financial dimension, you must select a financial dimension that is included in all account structures that are assigned to the ledger.

  5.

  Select a fiscal calendar for the legal entity.

  6.

  Select an accounting currency and a reporting currency for the legal entity.

  7.

  Select default exchange rate and budget exchange rate types.

  8.

  For each posting type, select a main account. When a currency is revalued, the differences are posted to this account, depending on the posting type.

  Reference: Set up a ledger [AX 2012]

• Question 52:

  Each department manager at your company is responsible for managing his or her own department's budgets.

  The budget manager decides that some departments must use a different budget threshold than other departments.

  You need to configure Microsoft Dynamics AX to ensure that the new policies are enforced.

  What should you configure?

  A. Budget planning scenario constraints
  B. Budget allocation terms
  C. Budget funds available calculation
  D. Budget control rules
  D. Budget control rules

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  Example: Define budget control rules to establish a different budget threshold for one department The default budget control parameter values that you entered in the Define parameters area are used unless you specify a different budget cycle time span, budget interval, budget threshold, or budget manager for individual rules. For example, to assign a different budget threshold to only one department, you could define two budget control rules: one rule for the specific department and its budget threshold, and another rule for all of the other departments for their threshold.

  Reference: Set up budget control [AX 2012]

• Question 53:

  What is the difference in the setup of periodic journals and voucher templates?

  A. You can modify the account type in voucher templates.
  B. Voucher templates can contain multiple vouchers.
  C. You can modify the account type in periodic journals.
  D. Periodic journals can contain only one voucher.
  D. Periodic journals can contain only one voucher.

• Question 54:

  You need to generate a vendor prepayment in a payment journal.

  Which two processes should you complete before posting a prepayment? Each correct answer presents part of the solution.

  A. Set up a prepayment posting profile.
  B. Set up a prepayment in a purchase order.
  C. Create a payment journal for the prepayment.
  D. Create a vendor invoice for the prepayment.
  B. Set up a prepayment in a purchase order.
  C. Create a payment journal for the prepayment.

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  B: The first step toward simplifying the prepayment process is by creating a purchase order

  C: After creating the prepayment and posting the prepayment invoice, it's now time to make a payment. To do so, first create a Payment Journal, mark the prepayment amount, and then post the journal. Reference: Vendor Prepayment Functionality in Microsoft Dynamics AX 2012

• Question 55:

  In which two situations can you print a pro forma invoice? Each correct answer presents a complete solution.

  A. As an estimate of a free text invoice
  B. As an estimate of a customer invoice for a sales order
  C. As a request for payment for a past due invoice
  D. As a replacement for a lost invoice
  A. As an estimate of a free text invoice
  B. As an estimate of a customer invoice for a sales order

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  A pro forma invoice is an invoice that is prepared as an estimate of the actual invoice amounts before the invoice is posted. You can print a pro forma invoice for either a customer invoice for a sales order or for a free text invoice. Reference: About customer invoices, free text invoices, and pro forma invoices [AX 2012]

• Question 56:

  A vendor contacts you about an unpaid invoice.

  You verify that a check was printed and mailed one month ago.

  The vendor did not receive the check.

  You need to reissue a check to the vendor. Which action should you perform?

  A. Create a reversing entry by using the General journal form, and then reissue the payment.
  B. Void the check from the original payment journal, and then reissue the payment.
  C. Reverse the payment from the Vendor transactions form, and then reissue the payment.
  D. Process a payment reversal from the Checks form, and then reissue the payment.
  D. Process a payment reversal from the Checks form, and then reissue the payment.

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  There are two methods available for reversing posted checks. In one, reversals are posted immediately when you click Payment reversal in the Check form. In the other, when you click Payment reversal in the Check form, the reversal first is sent to the Check reversals journal in Cash and bank management, where a reviewer can then post or reject the reversal.

  Reference: Reverse a posted check [AX 2012]

• Question 57:

  Which type of transactions require a bank transaction type to be set up on the Cash and bank management parameters form?

  A. Non-sufficient fund transactions
  B. Bank fee transactions
  C. Bank reconciliation transactions
  D. Vendor payment transactions
  A. Non-sufficient fund transactions

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  Field: NSF

  Select the bank transaction type that is used for not sufficient funds (NSF).

  Reference: Cash and bank management parameters (form) [AX 2012]

• Question 58:

  You need to record fixed asset transactions by using journals.

  What should you configure before you can begin the recording process?

  A. A journal name that uses the Fixed asset budget journal type
  B. A journal name that uses the Post fixed assets journal type
  C. A depreciation book journal name D. A default Fixed asset - posting, ledger description
  B. A journal name that uses the Post fixed assets journal type

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  To use fixed assets, you must set up the journal names that are the basis of the fixed asset journals. To use items from inventory as fixed assets, you must also set up journal names for the inventory to fixed asset journals.

  Set up journal names for the fixed asset journals (see step 3).

  1.

  Click General ledger > Setup > Journals > Journal names.

  2.

  Click New and enter a unique identifier in the Name field.

  3.

  Select Post fixed assets in the Journal type field. You use this journal type for any type of fixed asset transactions that will be posted for value models. This journal type provides special functionality for fixed assets, such as creating proposals for different types of fixed asset transactions.

  4.

  Enter values in the Description and Voucher series fields and other fields, as required.

  5.

  Be sure to set up a journal name for each posting layer to post fixed asset transactions to.

  6.

  Click New to create another journal name and enter a unique identifier in the Name field.

  7.

  Select Fixed asset budget in the Journal type field. This journal type has functionality similar to Post fixed assets, but is used only for fixed asset budget register entries.

  8.

  Enter values in the Description and Voucher series fields and other fields, as required.

  9.

  Be sure to set up a journal name for each posting layer to post fixed asset budget register entries to.

  Reference: Set up journal names [AX 2012]

• Question 59:

  What are three operating units that can be used as a financial dimension? Each correct answer presents a complete solution.

  A. Departments
  B. Business units
  C. Positions
  D. Cost centers
  E. Teams
  A. Departments
  B. Business units
  D. Cost centers

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  AX 2012 Financial Dimensions Concept and Working: Legal Entity: Company ID Operating Units: Department, Cost Center, Business unit, Value stream

  Reference: AX 2012 Financial Dimensions Concept and Working:

• Question 60:

  Which form should you use to assign a chart of accounts to a legal entity?

  A. Configure account structures
  B. General ledger parameters
  C. Ledger
  D. Legal entities
  C. Ledger

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  Select the chart of accounts that can be used by a legal entity in the Ledger form. Reference: About the chart of accounts [AX 2012]