A company uses multiple currencies and wants to ensure that exchange rates are updated every morning before transactions are posted. They also want to use a specific rate for a large contract that was agreed upon earlier. What should they do?

Disable automatic updates and enter all rates manually.

Set up automatic exchange rate updates in Currency Setup and manually override the rate on the specific contract's documents.

Create a new currency for the contract with a fixed exchange rate.

Use the same exchange rate for all transactions and update it manually each morning.

A company is expanding and needs to add a new department. They want to report on the new department without affecting existing reports. The chart of accounts is already structured with dimensions. What is the most efficient way to set this up?

Create a new chart of accounts for the department.

Change the existing dimension to a new one.

Create a new G/L account for the department and move existing balances.

Add a new dimension value for the department and assign it to relevant accounts.

A company needs to prevent posting to a fiscal year that has been closed. What should the administrator configure?

Delete the accounting periods for the closed year.

Run the 'Close Income Statement' batch job.

Set the 'Closed' checkbox on the G/L accounts.

Set the 'Allow Posting From' and 'Allow Posting To' dates on the General Ledger Setup page to the open period range.

Microsoft Certified:Dynamics 365 Business Central Functional Consultant Associate

Domain 2Objective 1

Set up Financial Management MB-800 Practice Questions (Page 3)

Part of the Configure financials domain, which accounts for 30–35% of the MB-800 exam. Microsoft does not publish an official question count, but from its 100-minute exam (~40–65 total, ~12–23 in this domain), expect 2–3 from this objective — we provide 41 practice questions to prepare you well beyond it. (estimate)

41questions here

9free pages

8concepts

30–35%of the exam

Questions 11–15

11application · medium
A company uses multiple currencies and wants to ensure that exchange rates are updated every morning before transactions are posted. They also want to use a specific rate for a large contract that was agreed upon earlier. What should they do?
Select an answer first
12foundation · easy
Which of the following is a typical field on the 'Currencies' page in Business Central?
Select an answer first
13foundation · easy
Which of the following is an example of a payment term that could be set up in Business Central?
Select an answer first
14expert · medium
A company is expanding and needs to add a new department. They want to report on the new department without affecting existing reports. The chart of accounts is already structured with dimensions. What is the most efficient way to set this up?
Select an answer first
15application · medium
A company needs to prevent posting to a fiscal year that has been closed. What should the administrator configure?
Select an answer first

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Set up Financial Management MB-800 Practice Questions (Page 3)

Questions 11–15

A company uses multiple currencies and wants to ensure that exchange rates are updated every morning before transactions are posted. They also want to use a specific rate for a large contract that was agreed upon earlier. What should they do?

Which of the following is a typical field on the 'Currencies' page in Business Central?

Which of the following is an example of a payment term that could be set up in Business Central?

A company is expanding and needs to add a new department. They want to report on the new department without affecting existing reports. The chart of accounts is already structured with dimensions. What is the most efficient way to set this up?

A company needs to prevent posting to a fiscal year that has been closed. What should the administrator configure?

Keep studying — Configure financials