Microsoft MB7-701 Online Practice Questions and Exam Preparation

Microsoft MB7-701 Online Questions & Answers

• Question 41:

  How do you adjust the amount of payment discount on an invoice entry in the Customer Ledger Entry table?

  A. You cannot adjust the discount amount after posting.
  B. Enter the new discount amount in the Remaining Pmt. Disc. Possible field.
  C. Reduce the value in the Remaining Amount field, so the difference between the Original Amount and Remaining Amount will be posted to the payment discount account.
  D. Enter the new discount amount in the Original Pmt. Disc. Possible field.
  B. Enter the new discount amount in the Remaining Pmt. Disc. Possible field.

• Question 42:

  Why should you close a fiscal year?

  A. to run the batch jobs Post Inventory Cost to G/L and Adjust Exchange Rate
  B. to ensure that balances are displayed only for the open year
  C. to post in a new year
  D. to use P1 through P12 when printing reports
  B. to ensure that balances are displayed only for the open year

• Question 43:

  What are the components of an account schedule?

  A. A schedule name, a list of lines, and a column layout
  B. A schedule name, a list of G/L accounts, and a column layout
  C. An analysis view name, a defined list of G/L accounts, and a column layout
  D. An analysis view name, a list of lines, and a defined list of G/L accounts
  A. A schedule name, a list of lines, and a column layout

• Question 44:

  What does selecting the Update on Posting check box indicate in an analysis view?

  A. The budget amounts of the analysis view will be updated every time a transaction posts.
  B. The actual and the budget amounts of the analysis view will be updated every time a transaction posts.
  C. The actual amounts of the analysis view will be updated every time a transaction posts.
  D. TheG/Laccounts specified in the analysis view will be updated every time a transaction posts.
  C. The actual amounts of the analysis view will be updated every time a transaction posts.

• Question 45:

  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. Click the Customer Statistics FactBox and drag it out of the customer list page.
  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. Right-click the Customer Statistics FactBox and select Remove.
  A. Click the Customer Statistics FactBox and drag it out of the customer list page.

• Question 46:

  Which window is not an option for analyzing cash flow?

  A. Cash Flow Account Schedule
  B. Cash Flow Ledger Entries
  C. Cash Flow Date List
  D. Cash Flow Report Selection
  D. Cash Flow Report Selection

• Question 47:

  You post a physical inventory journal line in the warehouse module. This posting creates a G/L entry. General posting groups X and Y are available to accommodate the resulting G/L entry. Which set of general posting groups on the General Posting Setup window is used to create the G/L entry records?

  A. General Business Posting.Group X and General Product Posting Group Y
  B. General Business Posting.Group and General Product Posting Group
  C. General Business Posting.Group and General Product Posting Group
  D. General Business Posting.Group X and General Product Posting Group
  B. General Business Posting.Group and General Product Posting Group

• Question 48:

  What effect does the Additional Reporting Currency field in the General Ledger Setup window have when running the Close Income Statement batch job?

  A. The closing income general journal will be created in the currency specified in the Additional Reporting Currency field.
  B. The closing income general journal will be created and then posted automatically.
  C. It has no effect.
  D. The Close Income Statement batch job is prevented from running if the Additional Reporting Currency field is populated.
  B. The closing income general journal will be created and then posted automatically.

• Question 49:

  Which statement about the reason code on a sales credit memo is true?

  A. It determines the location code for item returns.
  B. It is transferred toG/L, customer, and item entries and used for analysis.
  C. It is required when posting a sales credit memo.
  D. It is transferred only to the posted sales credit memo and used for filtering and analysis.
  B. It is transferred toG/L, customer, and item entries and used for analysis.

• Question 50:

  How is the Due Date of a Reminder calculated?

  A. Original transaction Document Date + Reminder Level Due Date Calculation
  B. Reminder Document Date + Reminder Level Due Date Calculation + Reminder Level Grace Period
  C. Reminder Document Date + Reminder Level Due Date Calculation
  D. Original transaction Document Date+Reminder Level Due Date Calculation ÷ Reminder Level Grace Period
  C. Reminder Document Date + Reminder Level Due Date Calculation