Microsoft MB6-885 Online Practice Questions and Exam Preparation

Microsoft MB6-885 Online Questions & Answers

• Question 61:

  You are revising an original budget by using the Project budget form in Microsoft Dynamics AX 2012. You need to associate the original budget to the revision. By which field should you associate the original and revised budgets?

  A. Category
  B. Revision ID
  C. Revision Date
  D. Budget Source
  B. Revision ID

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  Project budget revision (form) [AX 2012] Field: Revision ID The project budget revision ID that was generated by the system. Ref: http://msdn.microsoft.com/en-us/subscriptions/hh209690.aspx

• Question 62:

  You create a purchase requisition and distribute amounts to the subledger that records pre- encumbrance and encumbrance commitments in Microsoft Dynamics AX 2012. Which of the following statements about entering purchase requisitions and updating the subledger is true?

  A. After account distribution, the encumbrance can be previewed in the subledger journal. Posting occurs after final approval.
  B. After account distribution, the encumbrance can be previewed and posted to the subledger. Final approval is not required.
  C. After account distribution, the pre-encumbrance can be previewed and posted to the subledger. Final approval is not required,
  D. After account distribution, the pre-encumbrance can be previewed in the subledger journal. Posting occurs after final approval.
  A. After account distribution, the encumbrance can be previewed in the subledger journal. Posting occurs after final approval.

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  About accounting distributions and subledger journal entries for purchase orders [AX 2012]

  Before you confirm a purchase order, you can view the full accounting entry, which includes debits and credits, to verify that the encumbrance is being posted to the correct accounts. This view of the full accounting entry is called a subledger journal entry. You can do this in the Purchase order form by clicking the Purchase tab on the Action Pane. In the Accounting group, click Subledger journal.

  Ref: http://msdn.microsoft.com/en-us/subscriptions/hh208518.aspx

• Question 63:

  You need to produce a report in Microsoft Dynamics AX 2012 that displays customer account balances at the end of the previous month.

  Which report should you generate?

  A. Customer aging report
  B. Customer balance list report
  C. Customer invoice transactions report
  D. Detailed due date list report
  B. Customer balance list report

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  Customer balance list report (CustProvisionalBalance) [AX 2012] Use this report to show, side by side, how the customer balances have changed during a defined subperiod, such as the last month, and a defined period, such as the current year.

  Ref: http://technet.microsoft.com/en-us/library/aa550100.aspx

• Question 64:

  When will the system perform the budget check on the source document line items? (Each correct answer presents a complete solution. Choose three.)

  A. When the source document is confirmed,
  B. When the source document is approved.
  C. When the source document is recalled.
  D. When the source document is created.
  E. When the source document is edited.
  A. When the source document is confirmed,
  B. When the source document is approved.
  D. When the source document is created.

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  A budget check is performed when a source document is created but not when it is edited. A budget check is performed when a source document is submitted to workflow and when it is approved and confirmed.

  Budget control configuration (form) [AX 2012]

  Link: Select source documents

  Select the source documents that are subject to budget control. You can also select to enable budget checks as the lines for the source documents are entered.

• Question 65:

  You are creating a fund in Microsoft Dynamics AX 2012.

  Which of the following statements about funds are true? (Each correct answer presents a complete solution. Choose two.)

  A. A fund is a legal entity.
  B. A fund is self-balancing.
  C. Fund activity can be viewed at the organizational level.
  D. A fund is an independent fiscal and accounting entity.
  B. A fund is self-balancing.
  D. A fund is an independent fiscal and accounting entity.

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  About funds (Public sector) [AX 2012]

  B: A fund is a self-balancing set of financial books that is used to control and monitor the planned use of resources, often in compliance with legal and administrative requirements. Organizations use funds to demonstrate their fiscal

  accountability.

  C: 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. Many funds can be included in a single high-level report, but each fund remains a separate fiscal and accounting entity with its own general ledger, income statements, and balance sheet reports.

• Question 66:

  You plan to assign a project contract as the funding source of a grant in Microsoft Dynamics AX 2012. Which status must the grant have before you can assign a project contract as a funding source?

  A. Entered
  B. Approved
  C. Allocated
  D. Awarded
  D. Awarded

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  Create or modify a grant [AX 2012]

  Field: Associated projects and project contracts

  You can enter information on this FastTab only if the Grant status field on the General FastTab is set to Active or Awarded.

• Question 67:

  You are creating a new chart of accounts.

  On the Main accounts form, which field should you use to create an expense account?

  A. Main account type
  B. Main account category
  C. Posting type
  D. Opening account
  A. Main account type

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  About main account types [AX 2012]

  The following main account types determine how a main account is used in the chart of accounts. You must select a main account type when you create a main account in the Main accounts - chart of accounts:

  %1 form.

  * Profit and loss, Revenue, and Expense These main accounts are used as posting accounts. Profit and loss accounts are used to record revenue and expenses. The sum of all operating accounts determines the year-end results. Revenue

  and Expense main accounts have the same function as Profit and loss main accounts.

  Etc.

• Question 68:

  You are receiving customer payments in Microsoft Dynamics AX 2012.

  What attributes must an invoice possess in order to be selected for payment by using a payment proposal?

  A. a due date or a cash discount date
  B. an invoice date and a transaction description
  C. payment terms or a transaction belonging to a specific billing classification
  D. a payment date and a transaction description
  A. a due date or a cash discount date

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  AX Content: Select invoices to pay

  A payment proposal is a query that finds all the invoices that are due, that have a cash discount available, or both.

• Question 69:

  You create a purchase agreement with a classification of blanket purchase order. You need to invoice the vendor with the minimum amount of administrative effort after the product has been received. What should you do?

  A. Create only a sales order, and then process the invoice.
  B. Process only the invoice.
  C. Create a sales order, create a shipper order, and then process the invoice.
  D. Create only a release order, and then process the invoice.
  B. Process only the invoice.

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  Key tasks: Vendor invoices [AX 2012]

  A vendor invoice for a purchase order is an invoice that is attached to a purchase order. It contains a header and one or more lines for items or services. A vendor invoice finishes the purchase order, product receipt, and vendor invoice cycle.

  You can also enter vendor invoices that are not associated with purchase orders.

  Ref: http://technet.microsoft.com/en-us/library/hh209199.aspx

• Question 70:

  What are the two stages of a budget register? (Each correct answer presents part of the solutions. Choose two.)

  A. Draft budget revisions with a status of Draft
  B. Posted budget revisions with a status of Posted
  C. On-hold budget revisions with a status of Hold
  D. Release-ready budget revisions with a status of Release Now
  E. Completed budget revisions with a status of Completed
  A. Draft budget revisions with a status of Draft
  E. Completed budget revisions with a status of Completed

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  Set up budget control [AX 2012]

  A: The budget control configuration provides an active version and a draft version. You can modify the draft version when the active version is turned on and budget control is in effect.

  E: Budget revisions: Budget register entries that add changes to original budgets and that have a document status of Completed. URL: http://technet.microsoft.com/en-us/library/hh242453.aspx