What is the primary purpose of a withholding tax authority in Dynamics 365 Finance?

To define the withholding tax rate for a tax code

To group withholding tax codes for a specific vendor

To specify the ledger accounts for withholding tax postings

To represent the entity responsible for collecting and reporting withholding tax

Which of the following is defined on a withholding tax code in Dynamics 365 Finance?

The item to which the withholding tax applies

The vendor to which the withholding tax applies

The withholding tax rate percentage

The frequency of withholding tax settlements

In Dynamics 365 Finance, what is the primary purpose of a sales tax group?

To group tax codes that apply to a specific customer or vendor

To define the tax rates for individual tax codes

To specify the ledger accounts for tax postings

To determine the frequency of tax settlements

A company is required to file sales tax returns quarterly with the state tax authority. The accounting team wants to generate the tax report and pay the amount due at the end of each quarter. What should you configure to automate this process?

Create a tax authority with a quarterly reporting frequency and assign it to the sales tax group.

Set up a batch job that manually posts the sales tax settlement at the end of each month.

Create a sales tax posting group with a quarterly settlement option and assign it to the tax codes.

Create a settlement period with a quarterly period length and assign the relevant tax codes to that settlement period.

Microsoft Certified:Dynamics 365 Finance Functional Consultant Associate

Domain 1Objective 6

Configure, Collect, and Report Taxes MB-310 Practice Questions (Page 4)

Part of the Implement financial management domain, which accounts for 35–40% of the MB-310 exam. Microsoft does not publish an official question count, but from its 100-minute exam (~40–65 total, ~14–26 in this domain), expect 2–4 from this objective — we provide 37 practice questions to prepare you well beyond it. (estimate)

37questions here

8free pages

12concepts

35–40%of the exam

12 Concepts in This Objective

Sales Tax Groups Configuration
Item Sales Tax Groups Configuration
Tax Codes Configuration
Settlement Periods Configuration
Tax Authorities Configuration
Tax Exemptions Configuration
Tax Ledger Posting Groups Configuration
Sales Tax Settlement and Posting
Withholding Tax Groups Configuration
Withholding Tax Codes Configuration
Withholding Tax Authorities Configuration
Sales Tax Calculation and Adjustment

Questions 16–20

16foundation · easy
What is the primary purpose of a withholding tax authority in Dynamics 365 Finance?
Select an answer first
17foundation · easy
Which of the following is defined on a withholding tax code in Dynamics 365 Finance?
Select an answer first
18foundation · easy
In Dynamics 365 Finance, what is the primary purpose of a sales tax group?
Select an answer first
19foundation · easy
In Dynamics 365 Finance, which configuration specifies the main accounts used to post tax amounts?
Select an answer first
20application · medium
A company is required to file sales tax returns quarterly with the state tax authority. The accounting team wants to generate the tax report and pay the amount due at the end of each quarter. What should you configure to automate this process?
Select an answer first

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