1500 Questions | Dynamics 365 Finance Consultant (MB-310)

Inventory and Cost Management (20%): Mastering inventory models, valuation methods, and transaction adjustments.

Accounts Payable and Accounts Receivable (15%): Managing the full lifecycle of vendor and customer invoices and payments.

Accounts Payable and Accounts Receivable Setup (15%): Configuring the foundational settings for vendors, customers, and their specific transaction profiles.

Bank and Cash Management (10%): Handling bank reconciliations, cash flow setups, and liquidity management.

General Ledger and Financial Reporting (10%): Finalizing the financial close process and generating accurate, compliant financial statements.

B. Fiscal Calendar

C. Date Intervals

D. Chart of Accounts

E. Journal Names

F. Financial Dimensions

Correct Answer: B

Explanation:

A (Incorrect): The Ledger Calendar is used to control the status of periods (Open, On Hold, Closed) defined by the Fiscal Calendar.

C (Incorrect): Date intervals are used for reporting shortcuts, not for the core definition of fiscal periods.

D (Incorrect): The Chart of Accounts defines the main accounts, not the timeframes for transactions.

E (Incorrect): Journal names define how data is entered, but they rely on an existing calendar.

F (Incorrect): Financial dimensions are used for data categorization and analysis.

Question 2: Which inventory model should I select if a company requires the cost of the most recent items purchased to be the first ones recognized as Cost of Goods Sold (COGS)?

B. LIFO (Last-In, First-Out)

C. Weighted Average

D. Standard Cost

E. Weighted Average Date

F. Moving Average

Correct Answer: B

Explanation:

A (Incorrect): FIFO assumes the oldest inventory is sold first.

C (Incorrect): Weighted Average calculates a mean cost for all items in stock.

D (Incorrect): Standard Cost uses a predetermined fixed price regardless of purchase history.

E (Incorrect): This is a variation of weighted average that includes time-based logic.

F (Incorrect): Moving average recalculates cost with every single purchase.

Question 3: While configuring Accounts Receivable, I need to group customers who share similar payment terms and aging bucket requirements. What is the most efficient way to achieve this?

B. Terms of Payment

C. Customer Posting Profiles

D. Billing Classifications

E. Credit Groups

F. Customer Pools

Correct Answer: A

Explanation:

B (Incorrect): Terms of payment define "how" they pay, but don't handle the grouping of the customers themselves.

C (Incorrect): Posting profiles define how transactions hit the General Ledger.

D (Incorrect): Billing classifications are specifically for public sector or specific invoice types.

E (Incorrect): Credit groups are used specifically for credit limit management.

F (Incorrect): Customer pools are primarily used for collections management activities.

You can retake the exams as many times as you want

This is a huge original question bank

You get support from instructors if you have questions

Each question has a detailed explanation

Mobile-compatible with the Udemy app

30-days money-back guarantee if you're not satisfied