A company has a large number of open ledger transactions in the bank fee account. The accountant wants to settle these transactions against a single clearing entry to simplify reconciliation. What should you do?

Use the ledger settlement worksheet to select the open transactions and the clearing entry, then mark them as settled.

Run the consolidation process to combine the transactions.

Create a closing schedule task to remind the accountant to review the account.

Post a manual journal entry to reverse each open transaction.

In Dynamics 365 Finance, which setup is required to run an elimination process for intercompany transactions?

Elimination rules that define the source and destination accounts

Which configuration is required to enable ledger settlement for a specific main account in Dynamics 365 Finance?

Add the main account to the ledger settlement setup

Create a posting profile for the main account

Define a financial dimension for the main account

Assign a number sequence to the main account

A parent company wants to consolidate the financials of its subsidiaries using Consolidation online. The subsidiaries use different fiscal calendars and currencies. What must you configure before running the consolidation?

Run the elimination process before consolidation.

Set up the consolidation company with the appropriate consolidation period and currency conversion rules.

Ensure all subsidiaries use the same fiscal calendar and currency.

Create a closing schedule for each subsidiary.

After consolidating the financial data of two legal entities, the controller notices that intercompany sales and purchases are still included in the consolidated revenue and expense figures. The controller wants these transactions removed from the consolidated results. What should you do?

Configure ledger settlements for the intercompany accounts.

Re-run the consolidation online process with a different period.

Run an elimination process that removes the intercompany transactions.

Manually post reversing entries for the intercompany transactions.

Microsoft Certified:Dynamics 365 Finance Functional Consultant Associate

Domain 1Objective 5

Perform Periodic Processes MB-310 Practice Questions (Page 3)

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

44questions here

9free pages

9concepts

35–40%of the exam

Questions 11–15

11application · medium
A company has a large number of open ledger transactions in the bank fee account. The accountant wants to settle these transactions against a single clearing entry to simplify reconciliation. What should you do?
Select an answer first
12foundation · easy
In Dynamics 365 Finance, which setup is required to run an elimination process for intercompany transactions?
Select an answer first
13foundation · easy
Which configuration is required to enable ledger settlement for a specific main account in Dynamics 365 Finance?
Select an answer first
14application · medium
A parent company wants to consolidate the financials of its subsidiaries using Consolidation online. The subsidiaries use different fiscal calendars and currencies. What must you configure before running the consolidation?
Select an answer first
15application · medium
After consolidating the financial data of two legal entities, the controller notices that intercompany sales and purchases are still included in the consolidated revenue and expense figures. The controller wants these transactions removed from the consolidated results. What should you do?
Select an answer first

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