What is the primary purpose of payment terms in Business Central?

To control the number of decimal places in amounts

To specify the general ledger account for sales

To define the due date calculation for invoices

To determine the currency used for transactions

A company needs to reorganize its chart of accounts to group accounts by department. Currently, accounts are listed sequentially. What should the administrator do to achieve this grouping without changing the account numbers?

Use the 'Indent' and 'Totaling' fields to create a hierarchical structure.

Create a new chart of accounts for each department.

Change the account numbers to include department codes.

Use the 'Account Category' field to group accounts.

A manufacturing company is setting up Business Central. They need to post purchase invoices to a specific asset account based on the item's category, but they also want to prevent accidental postings to the retained earnings account. The fiscal year starts January 1. Which two configurations should they implement?

Create a separate general journal template for asset purchases and restrict the Retained Earnings account via user permissions.

Use the General Ledger Setup page to specify a default asset account and mark the Retained Earnings account as 'Direct Posting' disabled.

Define posting groups for the asset accounts and set the Retained Earnings account as blocked in the Chart of Accounts.

Assign the asset accounts to the item's inventory posting group and set the fiscal year to start in the previous month.

A company uses EUR as its local currency and has customers in the US and UK. They want to invoice in USD and GBP, but also want to see the local currency amount on the invoice. What must be configured?

Create separate G/L accounts for USD and GBP.

Set up USD and GBP as currencies with exchange rates, and enable the 'Currency' field on the sales document.

Use the 'Adjust Exchange Rates' batch job before each invoice.

Change the local currency to USD.

Microsoft Certified:Dynamics 365 Business Central Functional Consultant Associate

Domain 2Objective 1

Set up Financial Management MB-800 Practice Questions (Page 8)

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 36–40

36foundation · easy
Which General Ledger Setup field is used to specify the default account for rounding differences that may occur when posting currency amounts?
Select an answer first
37foundation · easy
What is the primary purpose of payment terms in Business Central?
Select an answer first
38application · medium
A company needs to reorganize its chart of accounts to group accounts by department. Currently, accounts are listed sequentially. What should the administrator do to achieve this grouping without changing the account numbers?
Select an answer first
39application · medium
A manufacturing company is setting up Business Central. They need to post purchase invoices to a specific asset account based on the item's category, but they also want to prevent accidental postings to the retained earnings account. The fiscal year starts January 1. Which two configurations should they implement?
Select an answer first
40expert · medium
A company uses EUR as its local currency and has customers in the US and UK. They want to invoice in USD and GBP, but also want to see the local currency amount on the invoice. What must be configured?
Select an answer first

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Set up Financial Management MB-800 Practice Questions (Page 8)

Questions 36–40

Which General Ledger Setup field is used to specify the default account for rounding differences that may occur when posting currency amounts?

What is the primary purpose of payment terms in Business Central?

A company needs to reorganize its chart of accounts to group accounts by department. Currently, accounts are listed sequentially. What should the administrator do to achieve this grouping without changing the account numbers?

A company uses EUR as its local currency and has customers in the US and UK. They want to invoice in USD and GBP, but also want to see the local currency amount on the invoice. What must be configured?

Keep studying — Configure financials