Microsoft MB6-885 Online Practice Questions and Exam Preparation

Microsoft MB6-885 Online Questions & Answers

• Question 1:

  Which of the following items must be set up prior to the entry of Original budget amounts?

  A. budget model
  B. budget control
  C. budget account entry comment
  D. reason codes
  A. budget model

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  Create and submit an original project budget [AX 2012]

  Create an original project budget

  1.

  Click Project management and accounting > Common > Projects > All projects.

  2.

  Select or open a project. To make the fields editable, on the Action Pane, on the Project tab, click Edit. On the Action Pane, on the Plantab, in the Budget group, click Project budget.

  3.

  In the Project budget form, on the General FastTab, under Forecast models, select the forecast models that you want to use for the original budget and remaining budget. These forecast mod- els are used by project control and project

  reports when you compare actual amounts to bud- geted amounts.

  Etc.

• Question 2:

  You are creating a fund account in Microsoft Dynamics AX 2012. Which of the following statements about fund accounting is true?

  A. Fund accounting requires the use of date intervals.
  B. Fund accounting requires the use of currency and exchange rates.
  C. Fund accounting requires the use of the fund dimension within the account number.
  D. Fund accounting requires the use of period allocations.
  C. Fund accounting requires the use of the fund dimension within the account number.

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  About funds (Public sector) [AX 2012]

  Each fund must have a unique fund number. In Microsoft Dynamics AX, fund numbers are used as dimension values in financial account numbers where a dimension has been mapped to a fund. When an account number is linked to a

  particular fund, it belongs to the set of financial books that are contained by that fund.

  Ref: http://msdn.microsoft.com/en-us/library/hh208594.aspx

• Question 3:

  You enter a fund entity for a financial dimension in Microsoft Dynamics AX 2012.

  You need to classify the fund properly for reporting purposes.

  In Microsoft Dynamics AX 2012, which of the following must you associate with fund classes?

  A. Fund code
  B. Fund type
  C. Fund number
  D. Fund value
  C. Fund number

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  *

  Each fund must have a unique fund number. In Microsoft Dynamics AX, fund numbers are used as dimension values in financial account numbers where a dimension has been mapped to a fund. When an account number is linked to a

  particular fund, it belongs to the set of financial books that are contained by that fund.

  *

  Grouped by fund class

  The following table shows funds that are grouped by fund class:

  *

  In Microsoft Dynamics AX, your organization can set up a system of funds that are grouped by the fund types that you create. Funds can be grouped also among three fund classes: Governmental, Proprietary, and Fiduciary. Ref: http://msdn.microsoft.com/en-us/library/hh208594.aspx

  

• Question 4:

  What code is required for the periodic reporting of intra-governmental or intra - federal agency transactions such as revenues, receivables, or payables?

  A. agency location code (ALC)
  B. trading partner code
  C. 1099-C indicator
  D. government identification number (GIN)
  D. government identification number (GIN)

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  Incorrect:

  Not C: 1099-C indicator

  (USA) Select this check box to assign a 1099-C indicator to a non-federal customer. This indicator is used to report to the United States Internal Revenue Service (IRS) that the customer is unable to pay a receivables amount that is owed to

  your organization.

• Question 5:

  In Microsoft Dynamics AX 2012, you need to configure budget control on an apportionment budget that will fund over several periods. You need to ensure that only a specific amount of money is released for expenditures until the original budget is finalized. Which apportionment option or options should you select?

  A. Use only apportioned amount and Include carry-forward amounts
  B. Include carry-forward amounts and Amounts to Sum-original budget and preliminary budget
  C. Use only apportioned amount only
  D. Use only apportioned amount and Amounts to Sum - preliminary budget and budget revisions
  C. Use only apportioned amount only

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  Set up budgeting and budget control for apportionments (Public sector) [AX 2012]

  Configure budget control for apportionments

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

  2. Click Budget funds available and select the Use only apportioned amount check box. Etc.

• Question 6:

  You need to record an urgent purchase that overrides the standard purchasing process in Microsoft Dynamics AX 2012. Which type of purchase order should you create?

  A. Confirming purchase order
  B. Urgent purchase order
  C. Unplanned purchase order
  D. Critical purchase order
  A. Confirming purchase order

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  Confirming PO codes (form) (Public sector) [AX 2012] A confirming purchase order circumvents the typical purchasing process. For example, you might authorize an emergency order with a purchase order number provided to a vendor at the time of a purchase, instead of with a purchase order document provided before an item is needed. Ref: http:// msdn.microsoft.com/en-us/subscriptions/hh208558.aspx

• Question 7:

  Which of the following items is a parameter of fiscal year closing that can be set up in Microsoft Dynamics AX 2012?

  A. Set fiscal year status to pending
  B. Create opening transactions during transfer
  C. Delete close of year transactions during transfer
  D. Preview closing transactions
  B. Create opening transactions during transfer

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  Transfer opening balances to a new fiscal year [AX 2012] Use the Opening transactions form to transfer opening balances for each account to a new fiscal year. Ref: http://technet.microsoft.com/en-us/library/aa498391.aspx

• Question 8:

  You plan to create grants and associate the funding providers for your organization.

  Which of the following providers can be assigned as funding sources in Microsoft Dynamics AX 2012? (Each correct answer presents a complete solution. Choose three.)

  A. project
  B. matching amount
  C. subgrantor
  D. federal mandate
  E. state mandate
  C. subgrantor
  D. federal mandate
  E. state mandate

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  Create or modify a grant [AX 2012]

  *

  Enter details about matching funds, if they are required. Many organizations that award grants require a recipient to spend a certain amount of their own money or resources to match what is awarded in the grant. For more information, see

  Matching types (form). In the Local project or tracking ID field, you can enter an identifier that is different from the project identifier. Select the Subgrantor check box if part of the grant will be awarded to a different organization.

  For grants that are awarded in the United States, you can specify whether a grant will be awarded under a state or federal mandate.

  *

  The new advanced funding functionality in dynamics AX 2012 where in customers/users can set up split funding of projects/contracts. They can attach more than one funding source which can be of different types such as Customers, On

  Hold, Grants, Organization etc.

• Question 9:

  You are analyzing a budget in Microsoft Dynamics AX 2012.

  You need to report costs from October through December, using a financial dimension focus. Which report should you use?

  A. Budget details
  B. Budget funds available
  C. Budget control activity by project
  D. Budget control account detail history
  D. Budget control account detail history

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  Use the Budget control account detail history report to view budget account entries for the financial dimension that you select.

  Reference: Budget control account detail history report (Public sector) (BudgetAccountDetailHistory) [AX 2012]

  Incorrect:

  not C: Use the Budget control activity by project report to view budget account entries for one or more projects from the Project management and accounting module.

• Question 10:

  You need to generate recurring invoices for a specific billing classification. You set up the billing classification and create the appropriate free text invoice template. What should you do next?

  A. Select a customer and generate the invoice.
  B. Choose a generation date in the Generate recurring invoice form and generate the invoices.
  C. Select the appropriate billing classification in the Generate recurring invoice form and generate the invoices.
  D. Assign the free text invoice template to the customers who need invoices generated.
  D. Assign the free text invoice template to the customers who need invoices generated.

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  Key tasks: Recurring free text invoices [AX 2012]

  Generate recurring invoices

  Use this procedure to generate invoices that are due and that have free text invoice templates assigned to them.

  1.

  Click Accounts receivable > Periodic > Recurring invoices > Generate recurring invoices.

  2.

  In the Invoice date field, enter the date to appear on the invoices.

  3.

  Select the template to generate invoices for.

  4.

  Click OK. A message will be displayed indicating that the invoice generation was successful. Ref: http://msdn.microsoft.com/en-us/library/hh227473.aspx