Microsoft MB6-895 Online Practice Questions and Exam Preparation

Microsoft MB6-895 Online Questions & Answers

• Question 1:

  You are consulting with a customer who is implementing Microsoft Dynamics 365 for Finance and Operations for the first time. This customer has income sources in foreign countries and, therefore, will need to perform currency revaluation. To complete currency setup, which three tasks should be completed before designating main accounts that will be used during the currency revaluation process? Each correct answer presents part of the solution. (Choose three.)

  A. Perform ledger accounting currency conversion.
  B. Determine which currencies will be transacted.
  C. Specify exchange rate types.
  D. Determine denomination currencies.
  E. Define exchange rates between currency pairs.
  C. Specify exchange rate types.
  D. Determine denomination currencies.
  E. Define exchange rates between currency pairs.

• Question 2:

  Over the past few weeks, several payments have posted to Contoso, Ltd. that were not open invoice.

  You are tasked with reconciling their account.

  Which process in Microsoft Dynamics 365 for Finance and Operations should you use?

  A. invoice journals
  B. Settle transactions
  C. General ledger entries
  D. Payment journal
  B. Settle transactions

• Question 3:

  You are implementing the Fixed assets module for Contoso, Ltd.

  Contoso, Ltd. has outlined the following business process for creating assets:

  1.

  A worker completes a capital expenditure form and submits it to the accounting department for review and approval.

  2.

  After the form is approved, a new asset is created.

  3.

  A purchasing agent creates a purchase order and submits it to the vendor for processing.

  4.

  When the invoice is received from the vendor, the accounts payable clerk processes an invoice to acquire the asset. No other users are allowed to process the acquisition.

  You need to configure Microsoft Dynamics 365 for Finance and Operations to meet these requirements.

  Which two configurations should you complete? Each correct answer presents part of the solution. (Choose two.)

  A. Configure the Allow asset acquisitions from purchasing parameter to be Yes
  B. Configure the Create asset when during product receipt or invoice posting to be Yes
  C. Create a user group for the Restrict asset acquisition posting to user group parameter
  D. Configure the Check for fixed asset creation during line entry parameter to be Yes
  A. Configure the Allow asset acquisitions from purchasing parameter to be Yes
  C. Create a user group for the Restrict asset acquisition posting to user group parameter

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  References: https://technet.microsoft.com/en-us/library/hh242490.aspx

• Question 4:

  You are creating a budget register entry for rent. You created a line for account 671450 with cost center 10 for an amount of 8,900.00 USD.

  You need to duplicate the line for each month of the year.

  What should you do?

  A. Use the allocate across period feature.
  B. Use the allocate across dimensions' feature.
  C. Create a recurring entry.
  D. Create a periodic journal.
  C. Create a recurring entry.

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  References: https://technet.microsoft.com/en-us/library/hh227576.aspx

• Question 5:

  You are creating a new budget register entry. You create a line to account 606800 for 10,000.00 USD on January 1st of the current year.

  You need to spread the amount, based on a sales curve over the entire year.

  What should you do?

  A. Use the Allocate across dimension function on the line.
  B. Create a recurring entry.
  C. Create an allocation basis and rule.
  D. Use the Allocate across periods function on the line.
  D. Use the Allocate across periods function on the line.

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• Question 6:

  You are setting up settlement periods for the purpose of using conditional sales tax. You plan on creating one settlement period for conditional sales tax and another settlement period for reporting sales tax to the authorities.

  One of your coworkers wants to know your reason for creating separate settlement periods.

  Which two reasons should you give your coworker? Each correct answer presents a complete solution. (Choose two.)

  A. It allows you to generate a report that displays undeclared conditional sales tax amounts
  B. It prevents conditional sales tax from being reported incorrectly
  C. Some countries legally require separation of settlement periods
  D. Setting up two settlement periods is mandatory in the system, no matter what type of sales tax
  A. It allows you to generate a report that displays undeclared conditional sales tax amounts

• Question 7:

  The accounting manager for your company has been manually processing payments to sales tax authorities for the past several years. You recently learned that Microsoft Dynamics 365 for Finance and Operations can automate much of

  those tasks.

  You need to configure Microsoft Dynamics 365 Finance and Operations to calculate and make periodic payments to tax authorities automatically.

  Which two tasks should be completed to make this configuration? Each correct answer presents part of the solution. (Choose two.)

  A. Enter the company's sales tax ID in the sales tax authority field.
  B. Create a main account with posting type: "sales tax"
  C. Assign vendors to the sales tax authorities.
  D. Create vendor accounts for the taxing agencies.
  C. Assign vendors to the sales tax authorities.
  D. Create vendor accounts for the taxing agencies.

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  References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/tasks/set-up-sales-tax-authorities

• Question 8:

  A vendor contacts you about an unpaid invoice. You verify that the check was printed and mailed one month ago. Because the check has not been received by the vendor, you need to reissue a check to the vendor. Which action should you perform?

  A. Reverse the payment from the Vendor transaction report from, and then reissue the payment.
  B. Void the check from the original payment journal, and then reissue the payment.
  C. Create a reversing entry by using the General journal 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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  References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-payable/reverse-vendor-payment

• Question 9:

  Your company has acquired customers in a new state. The company must collect sales tax on the product sales to those customers.

  As bookkeeper, you need to configure Microsoft Dynamics 365 for Finance and Operations to report collected sales tax to the new customers' state authorities.

  Which configuration controls the payment of sales tax to the new state?

  A. main accounts
  B. customer account
  C. sales tax group
  D. sales tax authority
  C. sales tax group

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  References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/indirect-taxes-overview

• Question 10:

  You need to make adjustments to your ledger balances before year-end close.

  Which methods can be used to accomplish this goal? (Choose two.)

  A. Use typical journal entries and a closing sheet
  B. Use a costing sheet and a typical journal entry
  C. Use a trial balance and a typical journal entry
  D. Use a closing sheet and a trial balance
  A. Use typical journal entries and a closing sheet
  D. Use a closing sheet and a trial balance