A consulting firm receives an annual subscription fee of $12,000 upfront. They need to recognize $1,000 as revenue each month over the next 12 months. What should they configure in Business Central?

Create a recurring general journal batch that posts $1,000 to revenue each month.

Set up a deferral template with a deferral account and a recognition account, and post the invoice with the deferral code.

Use the Fixed Assets depreciation feature to spread the revenue over 12 months.

Post the full amount to revenue and then reverse $11,000 to a liability account.

In the Chart of Accounts, what is the purpose of the 'Income Statement' account category?

To track cash and bank balances

To manage fixed asset depreciation

To record owner's equity transactions

To categorize revenue and expense accounts

A company's fiscal year runs from July 1 to June 30. They need to create accounting periods for the next fiscal year and ensure that the periods are open for posting. What should they do?

Use the 'Accounting Periods' page to create the new fiscal year and then set the 'Allow Posting From' and 'To' dates in General Ledger Setup.

Run the 'Close Year' function on the current fiscal year and then create new periods.

Change the fiscal year start date in General Ledger Setup to July 1 and the system will create periods automatically.

Create a new company for the new fiscal year and copy the chart of accounts.

A company uses EUR as its local currency and frequently invoices in USD. They want to ensure that the exchange rate used for a sales invoice is the rate valid on the invoice date. What should be configured?

Enter exchange rates for USD with effective dates covering the invoice dates.

Set the 'Currency Rate' field on the customer card to a fixed rate.

Use the 'Adjust Exchange Rates' batch job before posting.

Create a new currency for each invoice.

Microsoft Certified:Dynamics 365 Business Central Functional Consultant Associate

Domain 2Objective 1

Set up Financial Management MB-800 Practice Questions (Page 4)

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 16–20

16foundation · easy
Which page in Business Central is used to create and manage accounting periods?
Select an answer first
17application · medium
A consulting firm receives an annual subscription fee of $12,000 upfront. They need to recognize $1,000 as revenue each month over the next 12 months. What should they configure in Business Central?
Select an answer first
18foundation · easy
In the Chart of Accounts, what is the purpose of the 'Income Statement' account category?
Select an answer first
19application · medium
A company's fiscal year runs from July 1 to June 30. They need to create accounting periods for the next fiscal year and ensure that the periods are open for posting. What should they do?
Select an answer first
20application · medium
A company uses EUR as its local currency and frequently invoices in USD. They want to ensure that the exchange rate used for a sales invoice is the rate valid on the invoice date. What should be configured?
Select an answer first

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