A consulting firm wants to track the project name and the client name on every expense transaction for internal reporting. They do not want these to be part of the account structure or affect the general ledger balances. What should you configure?

Create two new main accounts for project and client.

Use derived dimensions to capture the project and client.

Add Project Name and Client Name as financial dimensions to the account structure.

Create two financial tags: Project Name and Client Name.

A company is setting up main accounts. They want to ensure that the 'Accounts Payable' main account is used only in the US legal entity, while the Canadian entity uses a different main account. They also want to keep the chart of accounts shared. What should you configure?

Use advanced rules to restrict the main account to the US entity.

Use legal entity overrides to disable the 'Accounts Payable' main account in the Canadian entity and create a separate main account for Canada.

Create a financial dimension to differentiate the entities.

Change the main account type to 'Total' to prevent posting.

What is the purpose of a legal entity override for a financial dimension in Dynamics 365 Finance?

To create a new financial dimension

To define the currency for the legal entity

To control user access to the dimension

To customize the dimension values or behavior for a specific legal entity

Contoso Ltd. is implementing Dynamics 365 Finance. The finance team needs to post transactions that combine a Cost Center dimension and a Department dimension, but only specific combinations are valid (e.g., Cost Center 100 can only be used with Department 200). They also want to prevent users from entering combinations that are not predefined. What should you configure?

Create an account structure with Cost Center and Department as active dimensions, then define advanced rules for the valid combinations.

Configure balance control accounts to validate the combinations during posting.

Use financial dimension default templates to automatically populate the Cost Center and Department values.

Create two separate account structures, one for Cost Center and one for Department, and assign them to the same main account.

Microsoft Certified:Dynamics 365 Finance Functional Consultant Associate

Domain 1Objective 1

Design and Configure the Chart of Accounts and Financial Dimensions MB-310 Practice Questions (Page 11)

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 56 practice questions to prepare you well beyond it. (estimate)

56questions here

12free pages

15concepts

35–40%of the exam

15 Concepts in This Objective

Financial Dimensions Design
Financial Dimensions Configuration
Chart of Accounts Design
Chart of Accounts Configuration
Main Accounts Configuration
Main Account Categories Configuration
Ledger Account Aliases Setup
Balance Control Accounts Configuration
Legal Entity Overrides Configuration
Account Structures Management
Advanced Rules Configuration
Financial Tags Design
Financial Tags Configuration
Derived Dimensions Configuration
Financial Dimension Default Templates

Questions 51–55

51foundation · easy
When setting up a main account in Dynamics 365 Finance, which of the following is a required field?
Select an answer first
52application · medium
A consulting firm wants to track the project name and the client name on every expense transaction for internal reporting. They do not want these to be part of the account structure or affect the general ledger balances. What should you configure?
Select an answer first
53application · medium
A company is setting up main accounts. They want to ensure that the 'Accounts Payable' main account is used only in the US legal entity, while the Canadian entity uses a different main account. They also want to keep the chart of accounts shared. What should you configure?
Select an answer first
54foundation · easy
What is the purpose of a legal entity override for a financial dimension in Dynamics 365 Finance?
Select an answer first
55application · medium
Contoso Ltd. is implementing Dynamics 365 Finance. The finance team needs to post transactions that combine a Cost Center dimension and a Department dimension, but only specific combinations are valid (e.g., Cost Center 100 can only be used with Department 200). They also want to prevent users from entering combinations that are not predefined. What should you configure?
Select an answer first

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Design and Configure the Chart of Accounts and Financial Dimensions MB-310 Practice Questions (Page 11)

Questions 51–55

When setting up a main account in Dynamics 365 Finance, which of the following is a required field?

A consulting firm wants to track the project name and the client name on every expense transaction for internal reporting. They do not want these to be part of the account structure or affect the general ledger balances. What should you configure?

A company is setting up main accounts. They want to ensure that the 'Accounts Payable' main account is used only in the US legal entity, while the Canadian entity uses a different main account. They also want to keep the chart of accounts shared. What should you configure?

What is the purpose of a legal entity override for a financial dimension in Dynamics 365 Finance?

Keep studying — Implement financial management