When configuring a financial tag in Dynamics 365 Finance, what must you define?

The main account that the tag applies to

The tag name and the values that can be used for the tag

The legal entity that the tag applies to

A company wants to report on revenue by region and by product line. They have decided to use financial dimensions. They want to ensure that every revenue transaction requires both a Region and a Product Line dimension. What should you configure?

Configure balance control accounts to require the dimensions.

Create advanced rules that require the dimensions to be entered.

Add Region and Product Line as active dimensions in the account structure and mark them as mandatory.

Use financial dimension default templates to populate the dimensions.

When designing financial tags, what is the most important consideration?

The tag should be defined for each legal entity separately

The tag should replace financial dimensions

The tag should capture information that is not already available in main accounts or financial dimensions

The tag should be used for every transaction in the system

What is the purpose of main account categories in Dynamics 365 Finance?

To specify the default posting type for each main account

To define the currency for each main account

To group main accounts for reporting and analysis

To control user access to main accounts

What is the purpose of a ledger account alias in Dynamics 365 Finance?

To control user access to specific main accounts

To store the account's opening balance

To define the currency for a main account

To provide a shortcut for entering a main account and dimensions

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 2)

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 6–10

6foundation · easy
When configuring a financial tag in Dynamics 365 Finance, what must you define?
Select an answer first
7application · medium
A company wants to report on revenue by region and by product line. They have decided to use financial dimensions. They want to ensure that every revenue transaction requires both a Region and a Product Line dimension. What should you configure?
Select an answer first
8foundation · easy
When designing financial tags, what is the most important consideration?
Select an answer first
9foundation · easy
What is the purpose of main account categories in Dynamics 365 Finance?
Select an answer first
10foundation · easy
What is the purpose of a ledger account alias in Dynamics 365 Finance?
Select an answer first

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