A logistics company acquires a fleet of delivery vans. For financial reporting, they use straight-line depreciation over 5 years. For tax purposes, they use MACRS (declining balance with a switch to straight-line). They want to enter the acquisition once and have the system automatically calculate depreciation for both books. What is the most efficient way to set this up?

Create one book with two depreciation profiles and select the appropriate one when posting depreciation.

Use the same book for both reporting and tax, and manually adjust tax depreciation at year-end.

Create two fixed asset groups, one for financial and one for tax, and enter each van twice.

Create two books, set the tax book as derived from the financial book, and assign different depreciation profiles to each.

In Dynamics 365 Finance, what is the purpose of managing fixed asset attributes?

To set up the general ledger accounts for asset transactions

To define the characteristics and behaviors of assets

To create the fixed asset groups for categorization

To determine the depreciation method for each asset

Which of the following is a typical use of a fixed asset group in Dynamics 365 Finance?

To store the asset's physical location and custodian

To define the depreciation method for each asset

To group assets for depreciation posting to the general ledger

To store the asset's acquisition date and cost

A company uses Dynamics 365 Finance. They have a fixed asset that was originally recorded with an incorrect acquisition date. The correct date is one month earlier. The asset has already been depreciated for one period. What should you do to correct the acquisition date?

Use a correction transaction to adjust the acquisition date.

Edit the acquisition date directly on the fixed asset book.

Reverse the acquisition transaction, correct the date, and re-post the acquisition.

Create a new fixed asset with the correct date and delete the old one.

A company uses two books for fixed assets: a tax book and a corporate book. They want acquisition transactions to post to different general ledger accounts depending on the book. What should you configure?

Use a single posting profile that contains both sets of accounts and select the appropriate one at posting time.

Create separate fixed asset groups for tax and corporate, each with its own posting profile.

Set up separate posting profiles for each book and assign them to the corresponding book in the fixed asset group.

Configure the general ledger parameters to route transactions based on the book.

Microsoft Certified:Dynamics 365 Finance Functional Consultant Associate

Domain 5Objective 1

Implement and Manage Fixed Assets MB-310 Practice Questions (Page 1)

Part of the Manage fixed assets 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 37 practice questions to prepare you well beyond it. (estimate)

37questions here

8free pages

9concepts

10–15%of the exam

Questions 1–5

1application · medium
A logistics company acquires a fleet of delivery vans. For financial reporting, they use straight-line depreciation over 5 years. For tax purposes, they use MACRS (declining balance with a switch to straight-line). They want to enter the acquisition once and have the system automatically calculate depreciation for both books. What is the most efficient way to set this up?
Select an answer first
2foundation · easy
In Dynamics 365 Finance, what is the purpose of managing fixed asset attributes?
Select an answer first
3foundation · easy
Which of the following is a typical use of a fixed asset group in Dynamics 365 Finance?
Select an answer first
4application · medium
A company uses Dynamics 365 Finance. They have a fixed asset that was originally recorded with an incorrect acquisition date. The correct date is one month earlier. The asset has already been depreciated for one period. What should you do to correct the acquisition date?
Select an answer first
5application · medium
A company uses two books for fixed assets: a tax book and a corporate book. They want acquisition transactions to post to different general ledger accounts depending on the book. What should you configure?
Select an answer first

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