A company has negotiated different purchase prices with different vendors for the same item. They want to ensure that when a purchase order is created for a specific vendor, the correct price is automatically applied. What should you configure?

Use the vendor's default price field in the vendor master.

Create a price group for each vendor and assign the item to the group.

Set the purchase price on the item's Released product details.

Create purchase price trade agreements for each vendor-item combination.

A manufacturing company wants to use standard costing for its raw materials. The cost accountant has set up a costing version for standard costs. What additional configuration is required for each item to ensure that standard costs are used in inventory transactions?

Create a purchase trade agreement for each item with the standard cost as the purchase price.

Set the item's default cost price to zero and let the system calculate it automatically.

Set the item model group to use standard cost and assign the item to the costing version.

Enable the 'Include in financial positive quantity' option on the item.

Microsoft Certified:Dynamics 365 Supply Chain Management Functional Consultant Associate

Domain 1Objective 4

Manage Inventory Pricing and Costing MB-330 Practice Questions (Page 6)

Part of the Implement product information management domain, which accounts for 25–30% of the MB-330 exam. Microsoft does not publish an official question count, but from its 100-minute exam (~40–65 total, ~10–20 in this domain), expect 3–5 from this objective — we provide 34 practice questions to prepare you well beyond it. (estimate)

34questions here

7free pages

8concepts

25–30%of the exam

Questions 26–30

26foundation · easy
When an item is configured for standard costing, which cost record is used to value inventory transactions?
Select an answer first
27application · medium
A company has negotiated different purchase prices with different vendors for the same item. They want to ensure that when a purchase order is created for a specific vendor, the correct price is automatically applied. What should you configure?
Select an answer first
28application · medium
A manufacturing company wants to use standard costing for its raw materials. The cost accountant has set up a costing version for standard costs. What additional configuration is required for each item to ensure that standard costs are used in inventory transactions?
Select an answer first
29foundation · easy
Which item model group setting enables an item to use standard costing?
Select an answer first
30foundation · easy
When creating a purchase price trade agreement, which field determines the specific item or item group the price applies to?
Select an answer first

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Manage Inventory Pricing and Costing MB-330 Practice Questions (Page 6)

Questions 26–30

When an item is configured for standard costing, which cost record is used to value inventory transactions?

A company has negotiated different purchase prices with different vendors for the same item. They want to ensure that when a purchase order is created for a specific vendor, the correct price is automatically applied. What should you configure?

A manufacturing company wants to use standard costing for its raw materials. The cost accountant has set up a costing version for standard costs. What additional configuration is required for each item to ensure that standard costs are used in inventory transactions?

Which item model group setting enables an item to use standard costing?

When creating a purchase price trade agreement, which field determines the specific item or item group the price applies to?

Keep studying — Implement product information management