Microsoft MB7-701 Online Practice Questions and Exam Preparation

Microsoft MB7-701 Online Questions & Answers

• Question 51:

  Before posting a sales order invoice into the Financial module, you enter a valid dimension value code for DEPARTMENT and CUSTOMERGROUP in the sales order header. These dimensions, plus an additional dimension value code for PRODUCTGROUP, are entering on the sales order lines.

  What dimension information is posted on the value added tax (VAT) entries as a result of the sales order?

  A. Dimension value codes for each unique posting line
  B. The valid dimension combinations
  C. None
  D. Dimension set ID
  C. None

• Question 52:

  A company uses Microsoft Dynamics NAV Fixed Assets (FA) to keep track of gains and losses when selling fixed assets. A fixed asset has a value of $800. You sell the asset for $600. What steps should you take to post this transaction to the G/L entries and FA entries?

  A. Create a sales invoice on a line using the Fixed Asset type with the amount of $800 dollars and a second line using the G/L Account type with the amount of -/-$200.
  B. Create a sales invoice on a line using the Fixed Asset type with the amount of $600, and then dispose of the fixed asset in the FA G/L journal for $200.
  C. Create a sales invoice on a line using theG/LAccount type with the amount of 5600, then dispose of the fixed asset in the FAG/Ljournal for $800.
  D. Create a sales invoice on a line using the Fixed Asset type with the amount of $600. The difference value (loss) is posted automatically.
  D. Create a sales invoice on a line using the Fixed Asset type with the amount of $600. The difference value (loss) is posted automatically.

• Question 53:

  Which statement about cost allocations is true?

  A. A cost allocation can have a fixed amount, and the total allocation percentage is always 100.
  B. A cost allocation can have a fixed amount and a time period applies to cost allocations.
  C. The total allocation percentage is always 100, and a time period applies to cost allocations.
  D. Cost allocations can be nested, and a cost allocation can have a fixed amount.
  C. The total allocation percentage is always 100, and a time period applies to cost allocations.

• Question 54:

  You have the rule:

  Cost Type Balance = Cost Center Balance + Cost Object Balance

  Which two statements are true? (Each correct answer presents part of the solution. Choose two.)

  A. All cost types are linked to both a cost center and a cost object.
  B. All cost entries are linked to either a cost center or a cost object.
  C. All cost entries are linked to both a cost center and a cost object.
  D. All cost types are linked to either a cost center or a cost object.
  B. All cost entries are linked to either a cost center or a cost object.
  D. All cost types are linked to either a cost center or a cost object.

• Question 55:

  Which two options do you use to track the maintenance of fixed assets? (Each correct answer presents part of the solution. Choose two.)

  A. Maintenance Vendor No. and Next Service Date
  B. Under Maintenance and Repair Status Code
  C. Under Maintenance and Warranty Date D. Maintenance Vendor No. and Service Period
  A. Maintenance Vendor No. and Next Service Date
  C. Under Maintenance and Warranty Date D. Maintenance Vendor No. and Service Period

• Question 56:

  When should you set the Appln. Between Currencies field in the Sales and Receivables Setup window to All?

  A. When you must apply a customer's payment in a currency different than that of the invoice.
  B. When you must post an invoice to a customer in a currency different than that of the customer card.
  C. When all invoices must be paid in the same currency as the original invoice.
  D. When you must apply a customer's payment in a currency different than that of the customer card.
  A. When you must apply a customer's payment in a currency different than that of the invoice.

• Question 57:

  A user posts a fixed asset (FA) appreciation of $20,000 on fixed asset X. The value of this appreciation must also be taken into account o the next monthly depreciation calculation. You need to ensure that the added value of fixed asset X is depreciated over time. You enable Part of Depreciable Basis for the FA posting type Appreciation.

  Where is the correct location to set up the depreciable basis?

  A. Fixed assets setup
  B. Depreciation books
  C. FA G/L journals
  D. Fixed asset cards
  B. Depreciation books

• Question 58:

  Which statement about the value added tax (VAT) calculation type reverse charge VAT is true?

  A. This option creates two G/L entries with the VAT amount that balance to U and two VAT entries.
  B. This option is used only by Purchases and Payables transactions and creates two VAT entries with the VAT amount that balance to 0.
  C. This option creates two G/L entries with the VAT amount that balance to 0 and one VAT entry.
  D. This option is used only by Sales and Receivables and creates two VAT entries with the VAT amount that balance to 0.
  C. This option creates two G/L entries with the VAT amount that balance to 0 and one VAT entry.

• Question 59:

  A company has users that have only infrequent access to Microsoft Dynamics NAV.

  These users bring their own laptops, which are not part of the client network. These users have not been added to Active Directory. You need to set up authentication for these users.

  Which type of user authentication should you use?

  A. Windows
  B. NavUserPassword
  C. SQL Server
  D. UserName
  B. NavUserPassword

• Question 60:

  A customer is using the default sales order Role Center profile. In the ribbon, the sales invoice is displayed as a large icon and the sales order as a small icon. The user needs to display the sales order icon as a large icon. What should you tell the user to do?

  A. Right-click the ribbon, click Customize Ribbon, click Sales Order, and select the large icon size.
  B. Right-click the ribbon, click Sales Order, and select the large icon size.
  C. The user cannot change the icon size since this requires administrator rights.
  D. The user cannot change the icon size in the RoleTailored client, but can do this in the Microsoft Dynamics NAV Development Environment.
  A. Right-click the ribbon, click Customize Ribbon, click Sales Order, and select the large icon size.