Microsoft MB6-885 Online Practice Questions and Exam Preparation

Microsoft MB6-885 Online Questions & Answers

• Question 21:

  Which of the following statements about billing codes is true?

  A. A billing code must be associated with a specific billing classification.
  B. A billing code must define the billing classification.
  C. A billing code must be associated with a specific payment classification.
  D. A billing code must be associated with a specific vendor.
  A. A billing code must be associated with a specific billing classification.

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  Billing classifications (form) (Public sector) [AX 2012] Tabs include: Billing codes Associate billing codes with the selected billing classification Ref: http://msdn.microsoft.com/en-us/subscriptions/hh208608.aspx

• Question 22:

  What must you do before you can create advanced ledger entries?

  A. Set up advanced ledger entry workflows and general ledger number sequences. Enable the license configuration key for fixed assets entry.
  B. Set up projects, budget control, and calendars.
  C. Set up projects, advanced ledger entry workflows, and budget control.
  D. Set up advanced ledger entry number sequences, advanced ledger entry voucher number sequences, and posting definitions. Enable the license configuration key for advanced ledger entry.
  D. Set up advanced ledger entry number sequences, advanced ledger entry voucher number sequences, and posting definitions. Enable the license configuration key for advanced ledger entry.

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  ALEs (advanced ledger entries) use Posting definitions as set-up in General Ledger>Setup>Posting>Posting Definitions.

  Reference: Using Advanced Ledger Entries over General Journals

• Question 23:

  By which factors can you distribute a transaction line amount across multiple ledger accounts?

  A. Amount, account balance, or quantity
  B. Amount, percent, or quantity
  C. Account, percent, or quantity
  D. Average cost, vendor, or quantity
  B. Amount, percent, or quantity

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  Create accounting distributions for free text invoices [AX 2012] In the Accounting distributions form, in the Distributed by field, select whether to distribute amounts by percentage, amount, or quantity. Ref: http://technet.microsoft.com/en-us/library/hh242121.aspx

• Question 24:

  You need to define how payments are applied to open transactions in Microsoft Dynamics AX 2012. What should you do?

  A. Set a vendor settlement classification.
  B. Set a classification settlement order.
  C. Set a customer settlement order.
  D. Set a vendor settlement order.
  B. Set a classification settlement order.

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  Understanding the Settlement Mechanism in Microsoft Dynamics AX

  Settlement is an accounting transaction that occurs on accounts payable, accounts receivables, and general ledger. This transaction is used mainly for settling vendor invoices against vendor payments or advanced payment, and customer

  invoices against customer collections or advanced collection.

  Ref: http://blog.mohamedaamer.com/microsoft-dynamics/understanding-the-settlement- mechanism-in- microsoft-dynamics-ax/

• Question 25:

  You need to plan for the revenue and expenditures of a project before the money is appropriated in Microsoft Dynamics AX 2012 Public Sector. Which type of budget should you configure?

  A. Provisional
  B. Original
  C. Apportionment
  D. Carry- forward
  B. Original

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  Better Budgeting with Microsoft Dynamics AX 2012: Part II of Excellence in Financial Management

  Original budget Use when you are creating an initial budget amount for an account.

  Ref:

  http://community.dynamics.com/product/ax/axnontechnical/b/erpsoftwareblog/archive/2012/02/1 5/better- budgeting-with-microsoft-dynamics-ax-2012-part-ii-of-excellence-in-financial- management.aspx

• Question 26:

  You need to move funds from the Building maintenance budget to the Entertainment budget in Microsoft Dynamics AX 2012. What should you do?

  A. Transfer the budget.
  B. Copy the budget.
  C. Revise the budget.
  D. Allocate the budget.
  A. Transfer the budget.

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  Create budget transfer (form) [AX 2012]

  Use this form to transfer budget amounts from one financial dimension value to another. For example, if the budget is low for the travel expense account, you can transfer budget funds from other financial dimension values.

• Question 27:

  When creating an account structure, what is the purpose of defining constraints?

  A. To specify the possible range of account values in a segment.
  B. To specify the information that should appear in government reports and in financial reports.
  C. To specify which combinations of segments are valid.
  D. To specify which segments should be created.
  C. To specify which combinations of segments are valid.

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  The Dynamics AX 2012 dimension framework expanded on the previous release by allowing unlimited dimensions. Along with this change was the new ability for the user to specify which dimensions to include in which order when entering a ledger account combination and to constrain the values that can be entered for each segment in that ledger account combination.

  References: Ledger account combinations - Part 3 (Structures and constraints)

• Question 28:

  Which of the following statements about financial dimensions in Microsoft Dynamics AX 2012 are true? (Each correct answer presents a complete solution, Choose two,)

  A. Financial dimensions cannot be shared across an organization.
  B. Financial dimensions cannot be mapped to other entities.
  C. Financial dimensions form one or more segments of an account number.
  D. You can create an unlimited number of financial dimensions.
  C. Financial dimensions form one or more segments of an account number.
  D. You can create an unlimited number of financial dimensions.

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  C: e the Financial dimensions form to create financial dimensions that you can use as account segments for shared charts of accounts.

  D: The new framework puts it all in your hands and provides the flexibility for an unlimited number of financial dimensions.

• Question 29:

  You need to write off a customer transaction. What should you do?

  A. Transfer the customer balances into an allowance for doubtful receivables contra account.
  B. Reverse the original revenue accounts for the collectable balances.
  C. Transfer the uncollectable customer transaction amount into an allowance for doubtful receivables contra account.
  D. Reverse the original expense accounts for the uncollectable balances.
  B. Reverse the original revenue accounts for the collectable balances.

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  Examples: Posting definitions (Public sector) [AX 2012]

  When the write-off posting definition is set up to reverse the originating revenue account, the posting definition for settlement must have the appropriate match criteria for revenue structures with the due-to and due-from entries on the generated entries. Ref: http://technet.microsoft.com/en-us/library/hh412236.aspx

• Question 30:

  You need to display a list of open and approved invoices for a specific customer.

  Which report should you generate?

  A. Invoice specifications report
  B. Customer balance list report
  C. Customer invoice transactions report
  D. Customer aging report
  C. Customer invoice transactions report

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  Customer invoice transactions report (CustInvoice) [AX 2012] The Customer invoice transactions report displays Accounts receivable customer invoice transactions. The transactions are sorted in the order of the general ledger account that

  was credited on each line of the invoice.

  Field: Customer account

  The selected customer account or accounts whose transactions will be included on the report.

  Click Select to select customer accounts.

  Incorrect:

  not D: The Customer aging report displays the balances that are due from customers, sorted by date interval or aging period.