A company is budgeting for the next year. The finance manager wants to allocate the total budget of $5,000,000 across departments based on a combination of headcount (60%) and square footage (40%). The allocation must be performed within the budget plan, and the result should be stored in a new scenario for comparison. What should you configure?

Manually calculate the allocation in Excel and import the results into the budget plan.

Create a single allocation schedule that uses a formula combining headcount and square footage.

Create one allocation schedule based on headcount and another based on square footage, and store them in separate scenarios.

Create two allocation schedules, one for headcount and one for square footage, and run them sequentially into the same new scenario.

A company has a budget plan in the 'Submitted' state. The finance manager needs to make a change to the plan, but the workflow has already been activated. The manager has the 'Budget manager' role. What is the correct action to take?

Create a new budget plan with the changes and submit it for approval.

Directly edit the plan in its current state, as the manager has the necessary permissions.

Use the 'Reject' action in the workflow to send the plan back to the originator.

Recall the workflow to return the plan to 'Draft' status, then make the changes.

A company is setting up a budget planning process. They have two organization hierarchies: 'Department' and 'Cost center'. The 'Department' hierarchy is used for routing budget plans, but the finance team also needs to see the budget by cost center. What should they do?

Assign both hierarchies to the budget planning process.

Use the 'Department' hierarchy for routing and ensure the budget plan lines include the cost center dimension.

Use the 'Cost center' hierarchy for routing and the 'Department' hierarchy for reporting.

Create two separate budget planning processes, one for each hierarchy.

A retail company is preparing its annual budget. The finance team wants to create a 'Conservative' scenario and an 'Optimistic' scenario to compare different revenue forecasts. They have already created a budget plan with a 'Base' scenario. What is the correct sequence of actions to achieve this?

Create a new budget plan for each scenario and then compare them.

Modify the budget planning process to include the new scenarios.

Add two new scenarios to the existing budget plan and enter the forecast amounts for each.

Use the 'Copy from budget plan' function to duplicate the plan and then change the amounts.

Microsoft Certified:Dynamics 365 Finance Functional Consultant Associate

Domain 4Objective 3

Configure and Manage Budget Planning MB-310 Practice Questions (Page 2)

Part of the Manage budgeting domain, which accounts for 10–15% of the MB-310 exam. Microsoft does not publish an official question count, but from its 100-minute exam (~40–65 total, ~4–10 in this domain), expect 1–3 from this objective — we provide 28 practice questions to prepare you well beyond it. (estimate)

28questions here

6free pages

6concepts

10–15%of the exam

Questions 6–10

6expert · hard
A company is budgeting for the next year. The finance manager wants to allocate the total budget of $5,000,000 across departments based on a combination of headcount (60%) and square footage (40%). The allocation must be performed within the budget plan, and the result should be stored in a new scenario for comparison. What should you configure?
Select an answer first
7expert · hard
A company has a budget plan in the 'Submitted' state. The finance manager needs to make a change to the plan, but the workflow has already been activated. The manager has the 'Budget manager' role. What is the correct action to take?
Select an answer first
8expert · hard
A company is setting up a budget planning process. They have two organization hierarchies: 'Department' and 'Cost center'. The 'Department' hierarchy is used for routing budget plans, but the finance team also needs to see the budget by cost center. What should they do?
Select an answer first
9application · medium
A retail company is preparing its annual budget. The finance team wants to create a 'Conservative' scenario and an 'Optimistic' scenario to compare different revenue forecasts. They have already created a budget plan with a 'Base' scenario. What is the correct sequence of actions to achieve this?
Select an answer first
10foundation · easy
In Dynamics 365 Finance, which entity is used to organize financial forecasts for a specific budgeting cycle?
Select an answer first

Finished these 5 questions?

Review the revealed explanations, or continue through the curriculum.

Next 5 questions →Back to MB-310

Free Basic Practice is a study aid with revealable answers — not a scored exam. Examers.io is independent and not affiliated with or endorsed by Microsoft. “MB-310” is a trademark of its owner, used for identification only.

Configure and Manage Budget Planning MB-310 Practice Questions (Page 2)

Questions 6–10

A company has a budget plan in the 'Submitted' state. The finance manager needs to make a change to the plan, but the workflow has already been activated. The manager has the 'Budget manager' role. What is the correct action to take?

A company is setting up a budget planning process. They have two organization hierarchies: 'Department' and 'Cost center'. The 'Department' hierarchy is used for routing budget plans, but the finance team also needs to see the budget by cost center. What should they do?

A retail company is preparing its annual budget. The finance team wants to create a 'Conservative' scenario and an 'Optimistic' scenario to compare different revenue forecasts. They have already created a budget plan with a 'Base' scenario. What is the correct sequence of actions to achieve this?

In Dynamics 365 Finance, which entity is used to organize financial forecasts for a specific budgeting cycle?

Keep studying — Manage budgeting