A company wants to post adjusting entries in a separate layer so that they do not affect the current operating results until reviewed. They also need to ensure that the primary ledger remains unaffected by these entries. What should you configure?

Post all entries in the 'Current' layer and use a separate journal for adjustments.

Disable posting to the 'Current' layer and use only the 'Tax' layer.

Use the 'Operations' posting layer for all entries.

Use the 'Current' posting layer for operating entries and create a new posting layer for adjustments.

A company's fiscal year ends on June 30. They need to create a new fiscal year that starts July 1. The previous year is not yet closed, but they need to start posting to the new fiscal year. What should you configure?

Use the same fiscal calendar without adding new periods.

Create a new period in the fiscal calendar for the new fiscal year and keep the previous year open.

Close the previous fiscal year before creating the new one.

Create a new ledger for the new fiscal year.

A company needs to import exchange rates from an external provider daily for multiple currencies. They also need to ensure that the rates are available for both transaction posting and reporting currency translation. What should you configure?

Use only one exchange rate type for all currencies.

Configure the reporting currency to use the accounting currency rate.

Set up exchange rate providers and import rates for the relevant exchange rate types.

Manually enter exchange rates each day.

A company's fiscal year ends on December 31, but they want to change to a fiscal year ending on June 30. They have historical data in the current fiscal calendar. They also want to allocate overhead costs at the end of each fiscal period. What should you do?

Create a new fiscal calendar with the new fiscal year, and update the ledger to use the new calendar. Re-run allocations for the new periods.

Use allocation rules to define the fiscal periods.

Create a new ledger for the new fiscal year.

Modify the existing fiscal calendar to change the start and end dates.

Microsoft Certified:Dynamics 365 Finance Functional Consultant Associate

Domain 1Objective 2

Configure Ledgers and Currencies MB-310 Practice Questions (Page 5)

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 21–25

21application · medium
A company wants to post adjusting entries in a separate layer so that they do not affect the current operating results until reviewed. They also need to ensure that the primary ledger remains unaffected by these entries. What should you configure?
Select an answer first
22foundation · easy
Which of the following is a component of a ledger calendar in Dynamics 365 Finance?
Select an answer first
23expert · hard
A company's fiscal year ends on June 30. They need to create a new fiscal year that starts July 1. The previous year is not yet closed, but they need to start posting to the new fiscal year. What should you configure?
Select an answer first
24application · medium
A company needs to import exchange rates from an external provider daily for multiple currencies. They also need to ensure that the rates are available for both transaction posting and reporting currency translation. What should you configure?
Select an answer first
25expert · hard
A company's fiscal year ends on December 31, but they want to change to a fiscal year ending on June 30. They have historical data in the current fiscal calendar. They also want to allocate overhead costs at the end of each fiscal period. What should you do?
Select an answer first

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