A company's fiscal year ends on December 31. On January 15, they realize they need to post an adjusting entry for December. The Allow Posting From/To dates are set to January 1 – December 31 of the current year. What should the administrator do to allow the December entry?

Change the 'Allow Posting From' date to December 1 of the previous year.

Create a new accounting period for December of the previous year.

Post the entry with a January date and backdate it.

Reopen the previous year by deleting the closing entry.

A multinational company needs to report financials in both local currency and USD. They want to use a single chart of accounts but have the ability to view reports in USD. What should they do?

Export the general ledger to Excel and convert to USD manually.

Create a second chart of accounts with USD accounts and post duplicate entries.

Set up USD as an additional reporting currency in General Ledger Setup.

Use the 'Currency' field on each G/L account to specify USD.

A company wants to ensure that all G/L accounts require a department dimension when posting. What should the administrator configure?

Enable the 'Dimension Mandatory' checkbox in General Ledger Setup.

Create a new G/L account for each department.

Set the 'Department' field as required on the customer card.

Set the 'Department' dimension as a shortcut dimension and mark it as 'Code Mandatory' in the Default Dimensions page.

A company is implementing Business Central and needs to restructure their chart of accounts. They have historical data in the old chart and want to maintain audit trails. They also need to close the current fiscal year and open a new one. What is the best approach?

Create new accounts in the chart of accounts, use the 'Renumber' function to reorganize, and then close the fiscal year.

Create a new company with the new chart of accounts and migrate historical data manually.

Use the 'Chart of Accounts' page to change account numbers directly and then close the fiscal year.

Delete the old chart of accounts and create a new one, then close the fiscal year.

Microsoft Certified:Dynamics 365 Business Central Functional Consultant Associate

Domain 2Objective 1

Set up Financial Management MB-800 Practice Questions (Page 5)

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 21–25

21foundation · easy
Which page in Business Central is used to set up deferral templates?
Select an answer first
22expert · medium
A company's fiscal year ends on December 31. On January 15, they realize they need to post an adjusting entry for December. The Allow Posting From/To dates are set to January 1 – December 31 of the current year. What should the administrator do to allow the December entry?
Select an answer first
23application · medium
A multinational company needs to report financials in both local currency and USD. They want to use a single chart of accounts but have the ability to view reports in USD. What should they do?
Select an answer first
24application · medium
A company wants to ensure that all G/L accounts require a department dimension when posting. What should the administrator configure?
Select an answer first
25expert · hard
A company is implementing Business Central and needs to restructure their chart of accounts. They have historical data in the old chart and want to maintain audit trails. They also need to close the current fiscal year and open a new one. What is the best approach?
Select an answer first

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