A company wants to track budget transactions separately from actual transactions in the general ledger. They also want to allocate overhead costs to departments. They are using Dynamics 365 Finance. What should you configure?

Create a separate legal entity for budget transactions.

Use allocation rules to post budget transactions to the general ledger.

Set up a posting layer for budget transactions and a separate posting layer for actual transactions. Use allocation rules to distribute overhead.

Use the same posting layer for both budget and actual transactions, and rely on the account structure to differentiate them.

A company uses different exchange rates for budgeting, actual transactions, and month-end revaluation. They want to ensure that each process uses the appropriate rate. What should you configure?

Set the accounting currency to the base currency and use only one rate.

Use a single exchange rate type for all processes.

Manually update the exchange rates before each process.

Define multiple exchange rate types (e.g., Budget, Default, Spot) and assign them to the respective processes.

A company operates in multiple countries with different fiscal year conventions. They need to configure the fiscal calendar so that each legal entity can have its own fiscal year while sharing a common chart of accounts. What should you configure?

Set the fiscal year to the calendar year for all entities.

Use a single fiscal calendar for all legal entities.

Create multiple fiscal calendars and assign the appropriate one to each legal entity's ledger.

Create a separate chart of accounts for each legal entity.

A company's fiscal year ends on March 31. They need to close periods in the ledger calendar and ensure that allocation rules run only for the appropriate fiscal periods. What should you configure?

Use the default calendar and manually close periods at year-end.

Set up allocation rules without a fiscal calendar.

Create a calendar year (January 1 to December 31) and assign it to the ledger.

Create a fiscal calendar with a year starting April 1 and ending March 31, and assign it to the ledger.

A company needs to revalue foreign currency bank accounts at the end of each month. The revaluation should post exchange differences to a specific balance sheet account. They also want to ensure that the revaluation is done only for open periods. What should you configure?

Set the posting layer to 'Operations' for the revaluation.

Manually post the exchange differences to the balance sheet account.

Create a currency revaluation posting profile for the bank accounts and run the revaluation for the appropriate period.

Use the general journal to revalue the bank accounts.

Microsoft Certified:Dynamics 365 Finance Functional Consultant Associate

Domain 1Objective 2

Configure Ledgers and Currencies 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 42 practice questions to prepare you well beyond it. (estimate)

42questions here

9free pages

9concepts

35–40%of the exam

Questions 16–20

16application · medium
A company wants to track budget transactions separately from actual transactions in the general ledger. They also want to allocate overhead costs to departments. They are using Dynamics 365 Finance. What should you configure?
Select an answer first
17application · medium
A company uses different exchange rates for budgeting, actual transactions, and month-end revaluation. They want to ensure that each process uses the appropriate rate. What should you configure?
Select an answer first
18application · medium
A company operates in multiple countries with different fiscal year conventions. They need to configure the fiscal calendar so that each legal entity can have its own fiscal year while sharing a common chart of accounts. What should you configure?
Select an answer first
19application · medium
A company's fiscal year ends on March 31. They need to close periods in the ledger calendar and ensure that allocation rules run only for the appropriate fiscal periods. What should you configure?
Select an answer first
20application · medium
A company needs to revalue foreign currency bank accounts at the end of each month. The revaluation should post exchange differences to a specific balance sheet account. They also want to ensure that the revaluation is done only for open periods. What should you configure?
Select an answer first

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