Your company has open vendor invoices in EUR, but the functional currency is USD. At the end of the month, you need to adjust the value of the open vendor balances to reflect the current exchange rate. What should you do?

Manually adjust each vendor balance using a general journal entry.

Run the foreign currency revaluation process for Accounts payable.

Create a new vendor invoice to adjust the balance.

Post a currency exchange rate adjustment in the General ledger.

A new vendor must be set up with a specific currency, payment terms, and a default bank account for payments. The company also wants to ensure that the vendor appears in the correct vendor group for reporting. What is the most efficient way to set up this vendor?

Create the vendor record, assign a vendor group, and enter the currency, payment terms, and bank account on the vendor record.

Create a new vendor group with the desired defaults and then create the vendor without entering details.

Use the vendor invoice journal to create the vendor automatically.

Create a vendor posting profile and assign it to the vendor.

A company processes payments for multiple legal entities from a central payment department. They want to pay vendors from different legal entities using a single bank account in the central entity. What should you configure?

Set up centralized payments and use the central entity's bank account for all payments.

Create a vendor payment method that is shared across legal entities.

Set up intercompany vendor invoices to handle the payments.

Use a shared vendor bank account for all legal entities.

What is the purpose of a credit memo in Accounts payable?

To record a prepayment to a vendor

To record a vendor's bank account change

To increase the amount owed to a vendor

To reduce the amount owed to a vendor

Microsoft Certified:Dynamics 365 Finance Functional Consultant Associate

Domain 3Objective 1

Implement and Manage Accounts Payable MB-310 Practice Questions (Page 11)

Part of the Implement and manage accounts payable and expenses domain, which accounts for 10–15% of the MB-310 exam. Microsoft does not publish an official question count, but from its 100-minute exam (~40–65 total, ~4–10 in this domain), expect 2–5 from this objective — we provide 55 practice questions to prepare you well beyond it. (estimate)

55questions here

11free pages

15concepts

10–15%of the exam

Questions 51–55

51application · medium
Your company has open vendor invoices in EUR, but the functional currency is USD. At the end of the month, you need to adjust the value of the open vendor balances to reflect the current exchange rate. What should you do?
Select an answer first
52application · medium
A new vendor must be set up with a specific currency, payment terms, and a default bank account for payments. The company also wants to ensure that the vendor appears in the correct vendor group for reporting. What is the most efficient way to set up this vendor?
Select an answer first
53expert · hard
A company processes payments for multiple legal entities from a central payment department. They want to pay vendors from different legal entities using a single bank account in the central entity. What should you configure?
Select an answer first
54foundation · easy
Which of the following is a typical setting for a recurring vendor invoice?
Select an answer first
55foundation · easy
What is the purpose of a credit memo in Accounts payable?
Select an answer first

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