Microsoft MB6-885 Online Practice Questions and Exam Preparation

Microsoft MB6-885 Online Questions & Answers

• Question 71:

  Which Role Center in Microsoft Dynamics AX 2012 provides access to key tasks, activities, and data related to the financial performance of an organization?

  A. Finance Director Role Center
  B. Accounting Manager Role Center
  C. Controller Role Center
  D. Accountant Role Center
  C. Controller Role Center

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  Role Center reference for Microsoft Dynamics AX

  Controller

  This Role Center provides access to key tasks, activities, and business data related to day-to-day business operations

  Common tasks for this role might include overseeing the daily details of running the business, reporting the monthly summaries, researching specific aspects of the organization to provide the necessary financial data for strategic decision-

  making, and ensuring the accuracy of and assessing the daily financial health of the organization.

  Incorrect:

  Not B: Accounting Manager

  This Role Center provides access to key tasks, activities, and business data related to accounting management.

  Not D: Accountant

  This Role Center provides access to key tasks, activities, and business data related to daily accounting work. Common tasks for this role might include managing and maintaining the general ledger, managing fixed assets and bank accounts,

  and performing auditing services.

  Ref: http://pargesoft.wordpress.com/2010/08/26/role-center-reference-for-microsoft-dynamics- ax/

• Question 72:

  Which of the following statements about posting definitions is true?

  A. A posting definition can be assigned to a transaction type in a module different from that of the posting definition.
  B. Posting definitions cannot be linked to multiple posting definitions.
  C. Links among posting definitions can be set up only within the same module.
  D. After you link to a posting definition from another posting definition, it can be linked to any other posting definition.
  C. Links among posting definitions can be set up only within the same module.

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  About posting definitions [AX 2012]

  The following restrictions apply when you create links in posting definitions:

  * You can set up links only among posting definitions that are in the same module. Etc.

  Ref: http://technet.microsoft.com/en-us/library/hh242680.aspx

• Question 73:

  For reporting purposes, you need to present provisional budgets and apportionment budgets separately in Microsoft Dynamics AX 2012. Which report should you use?

  A. Actual vs. budget
  B. Budget control activity by project
  C. Budget control account detail history
  D. Budget details
  A. Actual vs. budget

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  Actual vs. budget report (BudgetBalancesActualsChart) [AX 2012] This report displays actual amounts versus balance amounts, in a chart format. Example:

  

  Incorrect:

  Not B: 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. You can also select budget account entries by financial dimension and by a

  range of dates for projects and for entries in the general ledger.

  Not C: Use the Budget control account detail history report to view budget account entries for the financial dimension that you select.

  To create this report, select a financial dimension, budget model, and budget cycle time span from those that are used by your organization. Select dates that either match the selected budget cycle or select a range of dates in the fiscal

  calendar that is associated with the budget cycle. You can also select a range of specific accounts or all accounts that match the other parameters that you selected.

  Not D: The Budget details report displays details about the budget register entries for the financial dimension set and date range that you select. You can select a specific budget model and budget type by using an inquiry form, or include all

  available budget models and budget types. The report is grouped by budget model, dimension values, and budget type. Columns display dates and amounts for the budget register entries.

• Question 74:

  You are performing general ledger year-end processes in Microsoft Dynamics AX 2012.

  You need to generate entries during closing to various fund types depending on the account type.

  Which attribute should you assign to the closing and opening transactions?

  A. Transaction types
  B. Account structure
  C. General ledger parameters
  D. Posting definitions
  D. Posting definitions

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  About posting definitions [AX 2012]

  Posting definitions are an alternative to posting profiles. You can use both posting definitions and posting profiles to create subledger journal lines for originating transactions that meet selected criteria.

  You use posting definitions instead of posting profiles for the transaction types that you select in the Transaction posting definitions form.

  Ref: http://msdn.microsoft.com/en-us/library/hh242680.aspx

• Question 75:

  You plan to associate a derived financial hierarchy with a legal entity in Microsoft Dynamics AX 2012. What must you do first? (Each correct answer presents part of the solution. Choose two.)

  A. Assign the derived financial hierarchy category type to the category hierarchy.
  B. Define filter rules for the derived financial hierarchy.
  C. Assign project categories to the category hierarchy.
  D. Create a category hierarchy.
  A. Assign the derived financial hierarchy category type to the category hierarchy.
  D. Create a category hierarchy.

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  Set up derived financial hierarchies (Public sector) [AX 2012] Set up a derived financial hierarchy

  1.

  To create a category hierarchy, click Product information management > Setup > Categories > Category hierarchies.

  2.

  To assign the Derived financial hierarchy category type to a category hierarchy, click Product information management > Setup > Categories > Category hierarchy types. etc.

  Ref: http://technet.microsoft.com/en-us/subscriptions/hh208586.aspx

• Question 76:

  In Microsoft Dynamics AX 2012, you need to reverse a provisional budget and update the budget register with an original budget.

  Which three attributes must the original budget and the provisional budget share? (Each correct answer presents a partial solution. Choose three.)

  A. Budget Model
  B. Dimension Values
  C. Budget Code
  D. Period
  E. Budget Cycle
  A. Budget Model
  B. Dimension Values
  C. Budget Code

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  Create and reverse a preliminary budget (Public sector) [AX 2012]

  AB: Ledger - actual vs. budget inquiry (Click Budgeting > Inquiries > Actual vs. budget.) Use the form to view actual expenditures versus the sum for the budget register entries for the period. The Preliminary budget field contains a sum of all

  the preliminary budget register entries for the budget model and dimensions values.

  C: You can reverse all preliminary budget entries or only the preliminary budget entries with the budget code that you specify.

• Question 77:

  A grant that funds a project has lapsed and additional funding has not been obtained.

  Which funding type should you select on the Project contracts form in Microsoft Dynamics AX 2012 to track additional transactions for the project?

  A. On hold
  B. Customer
  C. Organization
  D. Grant
  A. On hold

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  Create a project contract [AX 2012]

  By using a project contract, you can invoice one or several projects at the same time.

  Create a project contract

  1.

  Click Project management and accounting > Common > Projects > Project contracts.

  2.

  On the Action Pane, on the Project contract tab, in the New group, click Project contract.

  3.

  In the New project contract form, enter a project contract identifier and name.

  4.

  In the Funding type field, select whether the source for the funding is a customer, an internal or- ganization, a public grant, or, if you have not yet identified the source type, on hold. Etc.

  Ref: http://technet.microsoft.com/en-us/library/hh370701.aspx

• Question 78:

  You are ready to bill for expenses to a project that uses funding from a grant.

  Which transition phase must the grant reflect in order to apply the grant funds to a project?

  A. Entered
  B. Awarded
  C. Active
  D. Submitted
  B. Awarded

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  Grant details (form) [AX 2012]

  Ref: technet.microsoft.com/en-us/library/hh242883.aspx

• Question 79:

  Which items do encumbrance year-end processing transfer into the new fiscal year?

  A. Invoice orders
  B. Production orders
  C. Purchase orders
  D. Purchase invoices
  C. Purchase orders

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  Process purchase orders at year end [AX 2012]

  If you record encumbrances for purchase orders in the general ledger, which includes purchase orders for projects, you can generate closing entries to the general ledger and against budget reservations at the end of each fiscal year. At the

  start of the new fiscal year, you can create opening entries to correctly record the encumbrances and budget reservations. These entries help make sure that the reservations for purchase order encumbrances are correctly recorded on the

  year-end financial statements and in budget control.

  Ref: http://msdn.microsoft.com/en-us/library/hh209300.aspx

• Question 80:

  Which of the following statements about government identification numbers (GINs) are true? (Each correct answer presents a complete solution. Choose two,)

  A. A GIN Generates a debit write-off of non-federal accounts receivables.
  B. A GIN helps track an agency accounting location.
  C. You can assign a GIN only to a customer with a country designation of US.
  D. The GIN assigned to each customer must be unique.
  B. A GIN helps track an agency accounting location.
  D. The GIN assigned to each customer must be unique.

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  Government and organizational identifications

  D: Customers (form) [AX 2012]

  Field: ID number

  Enter the government-issued identification number of the customer's organization.

  Incorrect:

  not C: It works worldwide.