Microsoft MB7-701 Online Practice Questions and Exam Preparation

Microsoft MB7-701 Online Questions & Answers

• Question 31:

  What effect does setting the Fix Exchange Rate Amount field in the Currency Exchange Rates window have in Microsoft Dynamics NAV?

  A. It determines the threshold over which currency conversion rounding errors are repaired.
  B. It determines the exchange rate to be used when the Adjust Exchange Rates batch job is run.
  C. It determines the threshold under which currency conversion rounding errors are repaired.
  D. It determines whether the currency or the relational currency exchange rate can be changed on transactions and journals.
  D. It determines whether the currency or the relational currency exchange rate can be changed on transactions and journals.

• Question 32:

  You are registering an acquired fixed asset. You need to post the acquisition cost to the fixed asset (FA) ledger entries and the G/L entries. What steps should you take?

  A. Register the acquisition cost in a purchase invoice line and post the purchase invoice.
  B. Register the acquisition cost in an FA journal line and post the journal.
  C. Register the acquisition cost in a G/L journal line and post the journal.
  D. Register the acquisition cost in a FA reclassification journal line and post the journal.
  A. Register the acquisition cost in a purchase invoice line and post the purchase invoice.

• Question 33:

  You create a new customer. You need to add posting group information. Which FastTab do you use to add the posting group information?

  A. General FastTab
  B. Foreign Trade FastTab
  C. Invoicing FastTab
  D. Payments FastTab
  C. Invoicing FastTab

• Question 34:

  A customer reports that in the RoleTailored client, the Customer Statistics FactBox takes up too much space on the customer list page. What should you do to remove the Customer Statistics FactBox?

  A. Right-click the Customer Statistics FactBox and select Remove.
  B. Click Action on the Customer Statistics FactBox and select Remove.
  C. Click the ribbon on the customer list page, click Customize, and then click Remove Customer Statistics FactBox.
  D. Click the Customer Statistics FactBox and drag it out of the customer list page.
  D. Click the Customer Statistics FactBox and drag it out of the customer list page.

• Question 35:

  A company has four open invoices, as described in the following table:

  

  All invoices are due on the same date, but you have only (LCY) 2000. Vendors B and C have been configured with a Priority of 1. You open the Suggest Vendor Payments batch job, select the Use Vendor Priority check box, and enter 2000 in the Available Amount (ICY) field.

  Which invoices are suggested for payment after running the Suggest Vendor Payments batch job?

  A. Invoice 1 only
  B. Invoices 3 and 4
  C. Invoice 3 only
  D. Invoices 1 and 3
  B. Invoices 3 and 4

• Question 36:

  A company requires a 10% prepayment for all new customers before shipping their orders. Which steps should you take to enable this?

  A. Create a customer posting group with a Prepayment % of 10 and enable Check Prepmt. WhenPosting in the Sales and Receivables Setup window.
  B. Create a customer price group with a Prepayment ? of 10 and set the Blocked field to Ship on the Customer Card window.
  C. Create a customer price group with a Prepayment ? of 10 and select Check Prepmt. WhenPosting in the Sales and Receivables Setup window.
  D. Create a customer posting group with a Prepayment % of 10 and enable Check Prepmt. When Posting in the General Ledger Setup window.
  C. Create a customer price group with a Prepayment ? of 10 and select Check Prepmt. WhenPosting in the Sales and Receivables Setup window.

• Question 37:

  A company purchases 10 laptops and enters them in Microsoft Dynamics NAV as one asset code X. The company sells one of the laptops after two years. What steps should you take, in order, to process this change in the Fixed Assets (FA) module?

  A. Dispose and post 10% of asset values X using an FA G/L journal, and then sell asset X using a Fixed Asset sales invoice line type.
  B. Create fixed asset card Y, post 10% of asset values X to asset Y by using an FA journal, and then sell asset Y using a Fixed Asset sales invoice line type.
  C. Create fixed asset card Y, post 10% of asset values X as a disposal to asset Y by using an FA reclassification journal, and then sell asset Y using a Fixed Asset sales invoice line type.
  D. Create fixed asset card Y, post 10% of asset values X to asset Y by using an FA reclassification journal, and then sell asset Y using a Fixed Asset sales invoice line type.
  D. Create fixed asset card Y, post 10% of asset values X to asset Y by using an FA reclassification journal, and then sell asset Y using a Fixed Asset sales invoice line type.

• Question 38:

  You need to record maintenance costs using the fixed asset journal. Which field should you set?

  A. FA Posting Type
  B. Next Service Date
  C. Under Maintenance
  D. Maintenance Vendor No
  A. FA Posting Type

• Question 39:

  You create a sales quote, your customer accepts the quote, and you convert the quote to an order. Which statement is true?

  A. The new order keeps the Document Date from the quote, and the Order Date is the same as the Document Date from the quote. The order lines are not updated with the unit prices from the item cards.
  B. The new order's Document Date and Order Date are the same as the work date. The order lines are updated with the unit prices from the item cards.
  C. The new order keeps the Document Date from the quote. The order lines are updated with the unit prices from the item cards.
  D. The new order keeps the Document Date from the quote, and the Order Date is the same as the work date. The order lines are not updated with the unit prices from the item cards.
  D. The new order keeps the Document Date from the quote, and the Order Date is the same as the work date. The order lines are not updated with the unit prices from the item cards.

• Question 40:

  Users in the accounting department can enter journal data at the same time into Microsoft Dynamics NAV. How do you ensure that each user's work is isolated from other users during data entry?

  A. Create a different number series for each user.
  B. Create a separate journal batch for each user.
  C. Create a separate journal template for each user, with each template having a different Source Code.
  D. No additional configuration is required because each user's work is automatically isolated in Microsoft Dynamics NAV based on their User ID.
  B. Create a separate journal batch for each user.