Microsoft MB7-701 Online Practice Questions and Exam Preparation

Microsoft MB7-701 Online Questions & Answers

• Question 81:

  How do you create a new fiscal year with 12 monthly accounting periods by using the Accounting Periods window?

  A. Select Create Year, and then enter 12 in the No. of Periods field and Month in the Period Length field on the Create Fiscal Year window.
  B. Create 12 new months, and then check the Date Locked field on the last month of year.
  C. Select Create Year, and then enter 12 in the No. of Periods field. Enter 1M in the Period Length field on the Create Fiscal Year window.
  D. Select Create Year, and then enter 12M as the Period Length.
  C. Select Create Year, and then enter 12 in the No. of Periods field. Enter 1M in the Period Length field on the Create Fiscal Year window.

• Question 82:

  You implement the following rule in the Cost Accounting module: Income (G/L) = Operational Value + Actual Accruals. Which two statements are always true? (Each correct answer presents part of the solution. Choose two.)

  A. G/Laccounts of type Balance Sheet are not transferred.
  B. Non-G/L-related cost postings are always posted to a cost center and a cost object.
  C. AllG/Lentries from income statements are transferred.
  D. Non-G/L-related cost postings are always posted with a single balancing account.
  A. G/Laccounts of type Balance Sheet are not transferred.
  B. Non-G/L-related cost postings are always posted to a cost center and a cost object.

• Question 83:

  Which two statements about fixed assets insurance are true? (Each correct answer presents a complete solution. Choose two.)

  A. The posting fields on each insurance card must be populated before posting to a G/L.
  B. Depreciation books and insurance depreciation books are identical.
  C. Running the Insurance - Uninsured FAs report creates a list of fixed assets that are not covered by insurance.
  D. Each insurance card must be linked to a predefined insurance type.
  B. Depreciation books and insurance depreciation books are identical.
  C. Running the Insurance - Uninsured FAs report creates a list of fixed assets that are not covered by insurance.