Free Exam MB-310: Microsoft Dynamics 365 Finance Functional Consultant Practice Questions

Sample Practice Questions

Try these 10 sample questions from the Exam MB-310: Microsoft Dynamics 365 Finance Functional Consultant practice bank. Each includes the answer and explanation. Continue with the interactive practice above to review the full question set.

1. 1A company needs an internal expense-purpose dimension whose values will be maintained manually and shared across legal entities. Which dimension type should it create?

   1. A. An entity-backed dimension using Customers
   2. B. A custom financial dimension
   3. C. An entity-backed dimension using Projects
   4. D. An entity-backed dimension using Stores

   Answer: B

   Explanation: Microsoft states, "you create and maintain custom dimension values manually on the Financial dimension values page." Custom dimensions fit the internal classification and are shared across legal entities.

   Reference: Financial dimensions — Custom dimensions

2. 2A customer posting profile has Table, Group, and All rows that could match the same customer. Which row takes priority?

   1. A. All
   2. B. Group
   3. C. The row created most recently
   4. D. Table for the specific customer

   Answer: D

   Explanation: Microsoft searches for "the most specific account code, account number, or group and number combination". Its priority table places Table before Group and All.

   Reference: Customer posting profiles — Creating a posting profile > Search priority

3. 3Vendor invoices must be checked against purchase order prices and received quantities. Which line matching policy is required?

   1. A. Two-way matching
   2. B. Invoice totals matching only
   3. C. Three-way matching
   4. D. Charges matching only

   Answer: C

   Explanation: Microsoft states, "Also match the quantity information on the invoice to the quantity information on the product receipts that are selected for the invoice." Three-way matching adds receipt-quantity validation to price matching.

   Reference: Accounts payable invoice matching overview — Matching types > Three-way matching

4. 4A completed budget register entry contains an amount that must be changed. What is the supported correction approach?

   1. A. Reopen the completed entry and edit its amount
   2. B. Clear the completed entry's balance update status and edit it
   3. C. Create a new budget register entry for the adjustment
   4. D. Change the completed entry's budget code to make it editable

   Answer: C

   Explanation: Microsoft states, "You can't reopen a completed budget register entry for edits." Create a new entry for the adjustment.

   Reference: Budgeting overview — Overview > Completed budget register entries

5. 5How are default books supplied when a new fixed asset is assigned to a fixed asset group?

   1. A. Only books already used by the same physical location are assigned
   2. B. Only books already used by the same responsible person are assigned
   3. C. The books configured on the selected fixed asset group are assigned
   4. D. Books are not assigned from groups and must always be added individually

   Answer: C

   Explanation: Microsoft states, "By default, the books that you assign to the fixed asset group are then assigned to the fixed asset." Group selection supplies default books.

   Reference: Set up fixed assets — Overview

6. 6An entity-backed Project dimension needs a new project value. Where should the consultant create that value?

   1. A. On the Financial dimension values page
   2. B. In the account structure's allowed values
   3. C. In the Project source entity
   4. D. In the dimension's legal entity overrides

   Answer: C

   Explanation: The documentation states, "If a new project value is necessary, you must create it from the Project page." Entity-backed values originate in their source entity; allowed-value criteria and overrides do not create projects.

   Reference: Financial dimensions — Financial dimension values

7. 7Which customer posting profile field identifies the Accounts receivable trade main account used for customer balance postings?

   1. A. Summary account
   2. B. Liquidity account for payments
   3. C. Interest code
   4. D. Collection letter sequence

   Answer: A

   Explanation: Microsoft states, "Select the main account that the system uses as the Accounts receivable trade account". This is the Summary account field.

   Reference: Customer posting profiles — Creating a posting profile > Summary account

8. 8For price totals matching, which currencies are used for percentage-based and amount-based comparisons, respectively?

   1. A. Transaction currency; accounting currency
   2. B. Accounting currency; transaction currency
   3. C. Reporting currency; transaction currency
   4. D. Reporting currency; accounting currency

   Answer: A

   Explanation: Microsoft states, "When matching price totals by percentage, the transaction currency values are compared. When matching price totals by amount, the accounting currency values are compared."

   Reference: Accounts payable invoice matching overview — Price totals matching formula

9. 9Approval workflow should apply to budget register entries of a particular transaction type. To which setup element is the workflow assigned?

   1. A. Budget code
   2. B. Budget model
   3. C. Budget allocation term
   4. D. Budget transfer rule

   Answer: A

   Explanation: Microsoft states, "create the workflows, and then assign them to budget codes." Entries using the code follow its workflow.

   Reference: Create budget register entries — Prerequisites

10. 10Which setup defines the depreciation method, depreciation year, and calculation frequency for fixed asset books?

    1. A. Depreciation profile
    2. B. Fixed asset group number sequence
    3. C. Fixed asset posting profile
    4. D. Depreciation journal name

    Answer: A

    Explanation: Microsoft states, "Define the method of depreciation, the depreciation year (calendar year or fiscal year), and the frequency of depreciation." These are depreciation profile settings.

    Reference: Set up fixed assets — Depreciation profiles