A company uses a fiscal calendar that runs from July 1 to June 30. They need to close the fiscal year and open the new fiscal year. They also want to ensure that only certain users can post to the closing period. What should you configure?

Use the general journal to manually close the old year and open the new year.

Create a new ledger for the new fiscal year and assign users to it.

Set up a new posting layer for the closing period.

Create a new fiscal year in the fiscal calendar, define the closing period, and set up posting restrictions for that period.

A company uses a 'Spot' exchange rate type for daily transactions and a 'Month End' rate type for revaluation. They need to ensure that the revaluation uses the correct rate for the period end date. What should you configure?

Set the exchange rate type for the revaluation to 'Month End' and ensure rates are entered for the period end date.

Set the revaluation to use the 'Default' rate type.

Manually adjust the revaluation entries after running the process.

Use the 'Spot' rate type for the revaluation.

What is the purpose of a ledger allocation rule in Dynamics 365 Finance?

To schedule recurring journal entries

To define exchange rates for intercompany transactions

To consolidate balances from multiple legal entities

To distribute amounts from one ledger account to multiple accounts based on defined criteria

Contoso, a multinational retailer, uses Dynamics 365 Finance. Their functional currency is USD, but they have significant transactions in EUR. They want to record daily sales in EUR at the daily spot rate, but they want to revalue their EUR bank account at month-end using the month-end average rate. They also need to ensure that the revaluation uses the correct posting profile. What should you configure?

Set up the EUR bank account with a fixed exchange rate that never changes.

Create two exchange rate types: one for daily transactions and one for month-end revaluation. Assign the appropriate exchange rate type to the revaluation posting profile.

Create two posting profiles for revaluation, one for daily and one for month-end, and assign them to the bank account.

Use a single exchange rate type for both daily transactions and revaluation, but manually adjust the rate at month-end.

A multinational company has legal entities in the US (fiscal year Jan-Dec) and the UK (fiscal year Apr-Mar). They share a single chart of accounts. The finance team wants to close the US entity's fiscal year while the UK entity is still in its current fiscal year. What should you configure to allow this?

Create a shared fiscal calendar with overlapping periods and manually close the US periods.

Use a single fiscal calendar for both entities and close periods only for the US entity.

Create separate fiscal calendars for each legal entity and assign them to the respective ledgers.

Set the US entity's fiscal year to match the UK entity's.

Microsoft Certified:Dynamics 365 Finance Functional Consultant Associate

Domain 1Objective 2

Configure Ledgers and Currencies MB-310 Practice Questions (Page 8)

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 36–40

36application · medium
A company uses a fiscal calendar that runs from July 1 to June 30. They need to close the fiscal year and open the new fiscal year. They also want to ensure that only certain users can post to the closing period. What should you configure?
Select an answer first
37expert · hard
A company uses a 'Spot' exchange rate type for daily transactions and a 'Month End' rate type for revaluation. They need to ensure that the revaluation uses the correct rate for the period end date. What should you configure?
Select an answer first
38foundation · easy
What is the purpose of a ledger allocation rule in Dynamics 365 Finance?
Select an answer first
39application · medium
Contoso, a multinational retailer, uses Dynamics 365 Finance. Their functional currency is USD, but they have significant transactions in EUR. They want to record daily sales in EUR at the daily spot rate, but they want to revalue their EUR bank account at month-end using the month-end average rate. They also need to ensure that the revaluation uses the correct posting profile. What should you configure?
Select an answer first
40expert · hard
A multinational company has legal entities in the US (fiscal year Jan-Dec) and the UK (fiscal year Apr-Mar). They share a single chart of accounts. The finance team wants to close the US entity's fiscal year while the UK entity is still in its current fiscal year. What should you configure to allow this?
Select an answer first

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Configure Ledgers and Currencies MB-310 Practice Questions (Page 8)

Questions 36–40

A company uses a fiscal calendar that runs from July 1 to June 30. They need to close the fiscal year and open the new fiscal year. They also want to ensure that only certain users can post to the closing period. What should you configure?

A company uses a 'Spot' exchange rate type for daily transactions and a 'Month End' rate type for revaluation. They need to ensure that the revaluation uses the correct rate for the period end date. What should you configure?

What is the purpose of a ledger allocation rule in Dynamics 365 Finance?

Keep studying — Implement financial management