Microsoft MB6-871 Exam Questions & Answers

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1 Microsoft MB6-871 Exam Questions & Answers Number: MB6-871 Passing Score: 700 Time Limit: 180 min File Version: Microsoft MB6-871 Exam Questions & Answers Exam Name: Microsoft Dynamics AX 2012 Financials

2 75Q Exam QUESTION 1 In Microsoft Dynamics AX 2012, which of the following statements about financial dimensions are true? (Choose all that apply.) A. Only the default financial dimensions are allowed. B. Financial dimensions can be created by using a form. C. Financial dimensions can be created by using a wizard. D. A user can create an unlimited number of financial dimensions. Correct Answer: BD /Reference: QUESTION 2 You need to ensure that Microsoft Dynamics AX 2012 does not allow journal transactions for an account to result in a credit balance. What should you do? A. On the Main accounts form, in the Balance control list, select Debit. B. On the Main accounts form, in the DB/CR proposal list, select Debit. C. On the Main accounts form, in the DB/CR requirement list, select Debit. D. On the Main accounts form, in the Main account type list, select Profit and Loss. /Reference: QUESTION 3 In Microsoft Dynamics AX 2012, the accounting currency is set to USD (United States dollars). You create a sales order that has a currency of CAD (Canadian dollars). When you generate the invoice, Microsoft Dynamics AX 2012 displays an error message that the account for penny differences in accounting currency is missing. You need to correct the error. What should you configure? A. Accounts for automatic transactions B. Customer posting profiles C. Item posting D. Posting definitions /Reference: QUESTION 4 In Microsoft Dynamics AX 2012, which of the following transactions can be reversed by using the Reverse Transaction functionality? (Choose all that apply.) A. Customer transactions that relate to sales orders. B. Vendor transactions that relate to purchase orders. C. Fixed Asset transactions that relate to fixed asset postings.

3 D. General Ledger transactions that relate to general journal entries Correct Answer: CD /Reference: QUESTION 5 In Microsoft Dynamics AX 2012, which of the following are features of approval journals? (Choose all that apply.) A. Setting up journal templates with a mandatory approval setting. B. Adding user groups through the workflow management functionality. C. Applying journal templates after posting but before transferring to history. D. Adding an extra layer of approval control by using the posting restriction option. D /Reference: QUESTION 6 In Microsoft Dynamics AX 2012, which of the following types of information are required to create a journal entry line in the General Ledger? (Choose all that apply.) A. Account B. Account name C. Accounting date D. Debit or Credit amount E. Dimension F. Offset account G. Transaction text CDF /Reference: QUESTION 7 In Microsoft Dynamics AX 2012, with which journal types can you use a voucher template? (Choose all that apply.) A. Accounts Payable invoice journal

4 B. Accounts Payable payment journal C. Accounts Receivable invoice journal D. Accounts Receivable payment journal E. General Ledger general journal E /Reference: QUESTION 8 You need to enable sales tax calculation in Microsoft Dynamics AX Which of the following must you set up? A. the sales tax code for the sales tax groups B. the sales tax authorities that are attached to the vendor C. the ledger posting group that is attached to the sales tax groups D. the item sales tax group that is attached to the customer, vendor, and item /Reference: QUESTION 9 In Microsoft Dynamics AX 2012, which type of round-off can you apply to a sales tax group? A. Sales tax codes B. Sales tax exemptions C. Sales tax intervals D. Sales tax provisions /Reference: QUESTION 10 In Microsoft Dynamics AX 2012, what is the purpose of the fill utility? A. To import Microsoft Excel data. B. To transfer sales tax information. C. To enable users to bulk-update records. D. To enable the automatic completion of form fields. Correct Answer: C /Reference: QUESTION 11

5 In Microsoft Dynamics AX 2012, which of the following credit limit tolerances can be set up in Cash and Bank Management? (Choose all that apply.) A. Confirm the system prompts the user to confirm B. Error - the system generates an error notification C. Validate the system prompts the user to validate D. Warning - the system generates a warning notification Correct Answer: BD /Reference: QUESTION 12 You need to delete a check from Microsoft Dynamics AX What status must the check have before it can be deleted? A. Created B. Invoiced C. Processed D. Void /Reference: QUESTION 13 In Microsoft Dynamics AX 2012, what is the purpose of an invoice register journal? A. To use as a voucher template. B. To enter and then post invoices when they arrive. C. To display information about invoices that are pending approval. D. To pre-register invoices when they arrive and then transfer them to an invoice pool for approval. /Reference: QUESTION 14 In Microsoft Dynamics AX 2012, what is the purpose of a Payment transfer form? A. To generate advance payments. B. To verify vendor transactions that are open and approved. C. To manage payments that have a status of Sent and have been posted. D. To manage payments that have a status of Sent and have not been posted. /Reference:

6 QUESTION 15 In Microsoft Dynamics AX 2012, what is the process of Accounts Payable three-way invoice matching? A. Matching the vendor invoice, sales order, and product receipts information. B. Matching the vendor invoice, purchase order, and product receipts information. C. Matching the customer invoice, sales order, and product receipts information. D. Matching the customer invoice, purchase order, and product receipts information. Correct Answer: B /Reference: QUESTION 16 In Microsoft Dynamics AX 2012, when can you use the cross-rate functionality in the Accounts Receivable Settle open transaction form? A. When the customer is making an advance payment. B. When the invoice currency and payment currency are different. C. When the invoice currency and payment currency are the same. D. When the customer invoice has been created by using a free text invoice. Correct Answer: B /Reference: QUESTION 17 In Microsoft Dynamics AX 2012, what is budget control functionality? A. incremental budgeting B. zero-based budgeting C. a process in the Work flow Management module D. a method of ensuring that sufficient budget funds are available for planned or actual purchases /Reference: QUESTION 18 You need to set up the Microsoft Dynamics AX 2012 chart of accounts for intercompany transactions. Which ledger account type should you specify for the Due to and Due from ledger accounts? A. Balance sheet B. Profit and loss C. Reporting D. Revenue

7 /Reference: QUESTION 19 You need to set up the main account so that the ledger transactions posted to that account are available for the foreign currency revaluation process. In the Microsoft Dynamics AX 2012 Main account form, which fields should you select? (Choose all that apply.) A. Consolidation account B. Foreign currency revaluation C. Mandatory reference D. Monetary Correct Answer: BD /Reference: QUESTION 20 You need to post an intercompany general ledger journal. In Microsoft Dynamics AX 2012, what should you set up to enable intercompany posting? (Choose all that apply.) A. Set up the intercompany journal name in both companies. B. Set up the intercompany journal name in only one company C. Set up the intercompany posting accounts in both companies. D. Set up the intercompany posting accounts in only one company. C /Reference: QUESTION 21 You need to process exchange rate adjustments on eligible main accounts. In Microsoft Dynamics AX 2012, what should you do? A. Use the periodic General Ledger function Foreign currency revaluation. B. Use the periodic Accounts Payable function Foreign currency revaluation. C. Use the periodic Accounts Receivable function Foreign currency revaluation. D. Use the periodic General Ledger function Ledger accounting currency conversion. /Reference: QUESTION 22 In Microsoft Dynamics AX 2012, which of the following is a mandatory step when posting bridging accounts?

8 A. Set up approvals. B. Post the closing account. C. Attach a ledger accrual to the journal line. D. Post a payment to a temporary main account. /Reference: QUESTION 23 You need to set up electronic vendor payments in Microsoft Dynamics AX What should you do first? A. Set up methods of payment in Accounts Receivable. B. Set up and configure electronic bank accounts in Cash and Bank Management. C. Set up and configure electronic customer bank accounts in Accounts Payable. D. Set up and configure electronic customer bank accounts in Accounts Receivable. Correct Answer: B /Reference: QUESTION 24 In Microsoft Dynamics AX 2012, which of the following is a requirement for using centralized payments? A. The currency codes in both companies must be the same. B. Companies must be connected in an organizational hierarchy. C. The posting profile IDs for each of the companies must be unique. D. The method of payment for each of the companies must be unique. Correct Answer: B /Reference: QUESTION 25 You need to import an electronic bank confirmation for a vendor payment. In Microsoft Dynamics AX 2012, which form should you use? A. Bank journal B. General ledger journal C. Payment journal D. Payment transfer journal /Reference:

9 QUESTION 26 You need to set up Foreign Currency Consolidation in Microsoft Dynamics AX 2012 to automatically post differences that result from consolidating subsidiaries with foreign currencies. What should you set up in the General Ledger? A. rounding rules in the Currencies form B. an account for automatic Penny difference in reporting currency transactions C. an account for automatic Penny difference in accounting currency transactions D. an account for automatic Balance account for consolidation differences transactions /Reference: QUESTION 27 You need to remove consolidation transactions in Microsoft Dynamics AX What should you do? A. In the Consolidation form, click the Delete button. B. In the Consolidation form, click the Remove transactions button. C. In the consolidation account transactions, click the Reverse transaction button. D. In the general ledger journal, create reversal transactions for the consolidation transactions. Correct Answer: B /Reference: QUESTION 28 Which of the following statements about Microsoft Dynamics AX 2012 elimination journal proposals are true? (Choose all that apply.) A. An elimination journal proposal posts automatically. B. An elimination journal proposal can be run only once. C. An elimination journal proposal displays a preview of the results of elimination. D. An elimination journal proposal enables you to validate the results of elimination. Correct Answer: CD /Reference: QUESTION 29 Which of the following statements about customer account statements in Microsoft Dynamics AX 2012 are true? (Choose all that apply.) A. A customer account statement displays only transactional data for a period. B. In a multi-company environment, a customer account statement can include transactional data for only one company. C. In a multi-company environment, a customer account statement can include transactional data for multiple companies.

10 D. If a customer account statement includes multiple currencies, the statement displays the opening and closing balance for each currency. Correct Answer: CD /Reference: QUESTION 30 Your company plans to charge interest on customer overdue payments. You set up the required interest codes in Microsoft Dynamics AX What is the next step? A. Apply the interest codes to customer groups. B. Apply the interest codes to the customer master. C. Apply the interest codes to customer parameters. D. Apply the interest codes to customer posting profiles. /Reference: QUESTION 31 What is the maximum number of collection letter codes that can be created for a collection letter sequence in Microsoft Dynamics AX 2012? A. 1 B. 3 C. 5 D. 6 Correct Answer: C /Reference: QUESTION 32 Which of the following statements about financial workflows in Microsoft Dynamics AX 2012 is true? A. There is one workflow type for each module. B. A workflow configuration is based on a workflow type. C. A workflow configuration is based on a workflow style. D. Within each workflow configuration, all approval nodes are used. Correct Answer: B /Reference: QUESTION 33 In Microsoft Dynamics AX 2012, which additional user interface element exists when a workflow

11 approval is set up for a journal? A. A yellow information bar. B. A green arrow to start the workflow. C. A Justify button in the action pane. D. A Validate button in the action pane. /Reference: QUESTION 34 When posting year-end transactions in Microsoft Dynamics AX 2012, which posting layer is designed for the closing sheet? A. Closing B. Current C. Opening D. Operations Correct Answer: B /Reference: QUESTION 35 Which of the following actions can you perform when defining the fiscal year end close parameters in Microsoft Dynamics AX 2012? A. Delete close-of-year transactions during transfer. B. Create an opening balance for the new fiscal year. C. Set the period status to current for new fiscal periods. D. Set the Main accounts to the default value for the new fiscal year. /Reference: QUESTION 36 In Microsoft Dynamics AX 2012, which of the following can you analyze by using the Dimension statement? (Choose all that apply.) A. budget transactions

12 B. cash flow forecast transactions C. customer balances D. General Ledger transactions E. vendor balances BD /Reference: QUESTION 37 In Microsoft Dynamics AX 2012, how can you identify errors and duplicates in a row definition structure before you update the existing structure? A. In the General Ledger module, run the Audit trail report. B. Run the Where used report on the Row definitions form. C. In the System Administration module, run the Consistency check periodic function. D. In the Structure designer form, select the Check check box and the Simulate check box. /Reference: QUESTION 38 In Microsoft Dynamics AX 2012, how can you assign fixed asset numbering? (Choose all that apply.) A. manually B. automatically based on value models C. automatically based on fixed asset groups D. automatically based on a fixed asset calendar C /Reference: QUESTION 39 In Microsoft Dynamics AX 2012, which of the following statements must be true in order to edit the calendar attached to a Depreciation book? A. No journals or transactions with any status exist for the Depreciation book. B. No journals or transactions with an Open status exist for the Depreciation book. C. No journals or transactions with a Closed status exist for the Depreciation book. D. No journals or transactions with a Suspended status exist for the Depreciation book. /Reference:

13 QUESTION 40 In Microsoft Dynamics AX 2012, where can you review value models that are linked to a fixed asset? A. In the corresponding main account. B. In the Fixed asset group form. C. In the Fixed asset parameters form. D. In the Fixed asset posting profile form. Correct Answer: B /Reference: QUESTION 41 Which of the following statements about the Microsoft Dynamics AX 2012 Depreciation book is true? A. The Depreciation book cannot be re-run while the periods are open for the Depreciation book. B. The Depreciation book can be re-run only one time before the periods are closed for the Depreciation book. C. The Depreciation book can be re-run only two times before the periods are closed for the Depreciation book. D. The Depreciation book can be re-run as many times as necessary while the periods are open for the Depreciation book. /Reference: QUESTION 42 You enter a new fixed asset, number FUR-ELC000136, in Microsoft Dynamics AX When you validate the acquisition journal for the new fixed asset, the system displays the following message: Account for the transaction type, value model, does not exist for fixed asset FUR-ELC What is the cause of the problem? A. The offset account does not exist in the Acquisition journal name form. B. The main account for the acquisition transaction type does not exist in the value model. C. The main account for the acquisition transaction type does not exist in the main account table. D. The main account for the acquisition transaction type does not exist in the fixed asset posting profile. /Reference: QUESTION 43 Which of the following statements about value models for fixed assets in Microsoft Dynamics AX 2012 is true? A. Value models are a subset of the value of a fixed asset. B. Value models are optional when setting up depreciation for a fixed asset.

14 C. Value models connect all financial information about fixed assets. D. Value models are used to assign additional life cycles to a fixed asset. Correct Answer: C /Reference: QUESTION 44 You need to record fixed asset transactions by using journals. In Microsoft Dynamics AX 2012, what should you do? A. Create transaction text with the type Fixed asset Posting, Ledger. B. In the General Ledger, create a journal for a Depreciation book. C. In the General Ledger, create a journal name with the journal type Post fixed assets. D. In the General Ledger, create a journal name with the journal type Fixed assets budget. Correct Answer: C /Reference: QUESTION 45 You set up an asset in Microsoft Dynamics AX What is the initial status of the value model? A. Open B. Closed C. Suspended D. Not yet acquired /Reference: QUESTION 46 You need to assign bar codes to fixed assets in Microsoft Dynamics AX What should you do? A. Set up special number sequences on each fixed asset group. B. Set up number sequences on Inventory module parameters. C. Set up number sequences on General Ledger module parameters. D. Set up number sequences on Accounts Payable module parameters. /Reference: QUESTION 47 You set up a fixed asset in Microsoft Dynamics AX You select the Allow asset acquisition from purchasing fixed asset parameter. What is the initial status of the fixed asset?

15 A. Open B. Scrapped C. Suspended D. Not yet acquired /Reference: QUESTION 48 You need to loan fixed assets in Microsoft Dynamics AX What should you do? A. Use the fixed asset journal. B. Use the inventory to fixed asset journal. C. Use the Loaned equipment periodic function. D. Click the Lend button on the Fixed asset form. /Reference: QUESTION 49 In Microsoft Dynamics AX 2012, where do you enter a budget for a fixed asset? A. In the fixed asset journal. B. In the Fixed asset group form. C. In the Fixed asset parameters form. D. In the fixed asset budget journal and directly on each fixed asset. /Reference: QUESTION 50 In Microsoft Dynamics AX 2012, which transaction type can be used for fixed asset disposal? A. Acquisition adjustment B. Depreciation adjustment C. Provision for reserve D. Write down Correct Answer: C /Reference: QUESTION 51 You need to enter fixed asset acquisitions into Microsoft Dynamics AX Where can you do

16 this? A. In the general journal of the General Ledger module. B. In the payment journal of the Accounts Payable module. C. In the payment journal of the Accounts Receivable module. D. In the Free text invoice form of the Accounts Receivable module. /Reference: QUESTION 52 In Microsoft Dynamics AX 2012, which of the following statements about depreciation for assets that have not yet been acquired is true? (Choose all that apply.) A. You cannot post depreciation for the assets. B. You can post depreciation for the assets by using depreciation proposals. C. You can post depreciation for the assets by using the depreciation books journal. D. You can generate depreciation for the assets by using depreciation proposals and specifying a future posting date. D /Reference: QUESTION 53 You need to automatically create a fixed asset from a purchase order when an invoice is posted. In Microsoft Dynamics AX 2012, which of the following actions should you perform? A. Configure the fixed asset posting profile. B. Configure the fixed asset acquisition methods. C. Select the Allow asset acquisition from Purchasing fixed asset parameter. D. Select the Check for fixed assets creation during line entry fixed asset parameter. E. Select the Create asset during product receipt or invoice posting fixed asset parameter. Correct Answer: E /Reference: QUESTION 54 In Microsoft Dynamics AX 2012, which fixed asset transaction can you process in the Free text invoice form?

17 A. Acquisition B. Acquisition adjustment C. Disposal sale D. Disposal scrap Correct Answer: C /Reference: QUESTION 55 In Microsoft Dynamics AX 2012, which fixed asset transaction type can post simultaneously with standard fixed asset depreciation? A. Bonus depreciation B. Depreciation adjustment C. Extraordinary depreciation D. Summarize depreciation Correct Answer: C /Reference:

18 50Q Exam QUESTION 1 You are configuring the Balance control list for an account from the main accounts form. You have selected the Debit option. Which of the following results from this configuration? A. It prevents journal transactions for an account to produce a credit balance. B. It allows journal transactions for an account to produce a credit balance. C. It prevents journal transactions from posting zero balances. D. It allows journal transactions to post zero balances. /Reference: : QUESTION 2 You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 An application user, named Mia Hamm, has been instructed to set up a journal that has the following features: The journal should allow for the creation of journal templates that has a mandatory approval setting. The journal should make use of the posting restriction option. Which of the following actions should Mia Hamm take? A. Mia Hamm should create an approval journal. B. Mia Hamm should create an absence journal. C. Mia Hamm should create a payment journal. D. Mia Hamm should create an inventory journal. /Reference: QUESTION 3 You are working within a general journal. You want to create a new line in the general journal. Which of the following is a combination of account types that are available to you? A. Item, ledger, and project. B. Ledger, project, and vendor. C. Ledger, project and purchase order. D. Project, purchase order, and vendor.

19 Correct Answer: B /Reference: QUESTION 4 Mia Hamm is a new employee, who has been assigned to you for training. You are preparing to show Mia Hamm how to create a journal entry line in the General Ledger. Which of the following is TRUE with regards to creating the journal entry line in the General Ledger? (Choose all that apply.) A. You must only have the Account, and the accounting date information to create the line. B. You must have the Account name, Dimension, and Offset account information to create the line. C. You must only have the Debit or Credit amount, and the Offset account information to create the line. D. You must only have the Dimension, and the Transaction text information to create the line. E. You must have the Offset account, Accounting date, Debit or Credit amount, and the Offset account information to create the line. Correct Answer: E /Reference: QUESTION 5 An application user, named Kara Lang, has been asked to settle a certain vendor's invoices. Kara Lang should make use of a certain form. Which of the following options should Kara Lang use? A. Kara Lang should make use of the Settle closed transactions form. B. Kara Lang should make use of the Settle pending transactions form. C. Kara Lang should make use of the Settle open transactions form. D. Kara Lang should make use of the Settle previous transactions form. Correct Answer: C /Reference: : QUESTION 6 You are in the process of configuring Microsoft Dynamics AX 2012 to enable sales tax calculation. You need to make sure that the tax calculation works properly.

20 Which of the following actions should you take? A. You should create the sales tax codes and add it to the necessary sales tax groups. B. You should contact the tax authorities, and request the correct settings. C. You should select the Enable sales tax calculation check box in the General Ledger. D. You should select the Enable sales tax calculation check box in the sales tax groups. /Reference: QUESTION 7 You are in the process of setting up sales tax codes for ABC.com's environment. Which of the following statements regarding sales tax codes are TRUE? A. For sales tax to be calculated for the sales tax codes, the codes must be included in both the sales tax group and the item sales tax group. B. For sales tax to be calculated for the sales tax codes, the codes must only be included in the sales tax group. C. For sales tax to be calculated for the sales tax codes, the codes must only be included in the item sales tax group. D. For sales tax to be calculated for the sales tax codes, the codes do not have to be included in the sales tax group or the item sales tax group. /Reference: QUESTION 8 You have been instructed to create various financial reason codes for ABC.com's Microsoft Dynamics AX 2012 environment. Which of the following statements regarding financial reason codes are TRUE? (Choose all that apply.) A. You are able to make use of the financial reasons form in Organization administration to create reason codes for an array of financial modules. B. You are unable to open a reasons form from a specific module to set up reason codes for only that module. C. Financial reason codes are user-defined field used to record the reason for a change or transaction.

21 D. Financial reason codes are system-generated fields used to record the reason for a change or transaction. C /Reference: QUESTION 9 A user, named Andy Reid, is in the process of setting up the banking data for a specific vendor. Andy Reid has been informed that the data should only be useable after a certain period of time. Which of the following actions should Andy Reid take? (Choose all that apply.) A. Andy Reid should consider setting the status of the vendor's bank account to Active for all transactions and enter the required date into the Active from field. B. Andy Reid should consider setting the status of the vendor's bank account to Inactive for new transactions and enter the required date into the Active from field. C. Andy Reid should consider setting the status of the vendor's bank account to Inactive for all transactions and enter the required date into the Active from field. D. Andy Reid should consider setting the status of the vendor's bank account to Active for all transactions only. /Reference: : QUESTION 10 You have been instructed to delete a check on the Microsoft Dynamics AX 2012 system. Which of the following is TRUE with regards to deleting checks? A. You can only delete a check that has the status Created. B. You can only delete a check that has the status Pending. C. You are allowed to delete checks, regardless of their status. D. You can only delete a check that has the status Initiated. /Reference: QUESTION 11 You are in the process of creating a payment method for a certain ABC.com vendor. You need to choose the method by which invoices are summed in the automatic payment proposal period.

22 Which of the following describes the default value for this method? A. Total B. Week C. Date D. Invoice /Reference: QUESTION 12 You have been instructed to make sure that when invoices are received, they are pre-registered and moved to an invoice pool for approval. You need to make use of a specific journal to achieve this. Which of the following actions should you take? A. You should consider making use of a general journal. B. You should consider making use of an inventory journal. C. You should consider making use of a service journal. D. You should consider making use of an invoice register journal. /Reference: QUESTION 13 Mia Hamm has been asked to configure a process in Accounts Payable that detects discrepancies by comparing the vendor invoice, purchase order, and product receipts information. Which of the following actions should Mia Hamm take? A. Mia Hamm should consider configuring the use of two-way net unit price matching. B. Mia Hamm should consider configuring the use of three-way invoice matching. C. Mia Hamm should consider configuring the use of two-way price totals matching and net unit price matching. D. Mia Hamm should consider configuring the use of two-way price totals matching. Correct Answer: B /Reference: QUESTION 14

23 An application user, named Kara Lang, has received instructions to configure the use of charges matching. Which of the following is TRUE with regards to charges matching? A. Charges matching is controlled for the legal entity by the Match charges check box in the Accounts payable parameters form. B. Charges matching always match price information by the unit price. C. Charges matching is performed only on charges codes for which the Compare purchase order and invoice values check box is selected in the Charges code form. D. Charges matching is controlled for the legal entity by the Line matching policy field in the Accounts payable parameters form. C /Reference: QUESTION 15 An application user, named Mia Hamm, is in the process of settling an open transaction for a ABC.com customer. Mia Hamm has noticed that the payment line and the invoice line use different currencies. Which of the following actions should Mia Hamm take? A. Mia Hamm should consider making use of the cross-company payment settlement. B. Mia Hamm should consider making use of the cross-rate functionality. C. Mia Hamm should consider making use of the creating a new currency code. D. Mia Hamm should consider starting the accounting currency conversion. Correct Answer: B /Reference: QUESTION 16 An application user, named Kara Lang, has received instructions to reimburse a particular customer that has a credit balance. Which of the following statements regarding this process are TRUE? (Choose two.) A. The amount of the credit balance is transferred to the vendor account of the customer and is processed as normal payments. B. The amount of the credit balance is transferred to the customer account of the customer and is processed as special payments. C. A one-time vendor account is automatically created for a customer that does not have a vendor account. D. If a customer does not have a vendor account, the process will be aborted. C

24 /Reference: QUESTION 17 Mia Hamm has been asked to configure a process in Accounts Payable that detects discrepancies by comparing price information for the net unit price of each item on the invoice. Which of the following actions should Mia Hamm take? A. Mia Hamm should consider configuring the use of two-way net unit price matching. B. Mia Hamm should consider configuring the use of three-way invoice matching. C. Mia Hamm should consider configuring the use of two-way price totals matching and net unit price matching. D. Mia Hamm should consider configuring the use of two-way price totals matching. /Reference: QUESTION 18 You are required to make sure that adequate budget resources are accessible for planned or actual purchases. Which of the following actions should you take? A. You should consider configuring a budget group. B. You should consider making use of a budget dimension. C. You should consider making use of a Ledger dimension. D. You should consider implementing a budget control. /Reference: QUESTION 19 A new employee, named Mia Hamm, has enquired what the definition of encumbrance is within the Microsoft Dynamics AX 2012 financial environment. Which of the following describes your response? A. You should inform Mia Hamm that it is a commitment made by management to reserve budget funds for expense requests. B. You should inform Mia Hamm that it is a commitment made by legal entities to reserve budget funds for expense obligations. C. You should inform Mia Hamm that it is a financial plan that control expenditures for planned activities. D. You should inform Mia Hamm that it is a cost or expense that is expended during an accounting period.

25 Correct Answer: B /Reference: QUESTION 20 You have previously set up cash flow forecast for sales and purchases. You now need to view the results of the cash flow calculation for sales orders. Which of the following is the path you should make use of? A. Procurement and sourcing > Common > Sales orders > All sales orders. B. Sales and marketing > Common > Sales orders > All sales orders. C. General ledger > Common > Sales orders > All sales orders. D. Product information management > Common > Sales orders > All sales orders. Correct Answer: B /Reference: : QUESTION 21 You have been tasked with configuring the main account to make the ledger transactions posted to the account accessible to the foreign currency revaluation method. Which of the following actions should you take? A. You should make sure that the Allocation, and Monetary check boxes are selected in the Main accounts - chart of accounts form. B. You should make sure that the Foreign currency revaluation, and Monetary check boxes are selected in the Main accounts - chart of accounts form. C. You should make sure that the Monetary, and Does allocation term exist check boxes are selected in the Main accounts - chart of accounts form. D. You should make sure that the Foreign currency revaluation, and Suspended check boxes are selected in the Main accounts - chart of accounts form. Correct Answer: B /Reference: : QUESTION 22 You are preparing to post a bridging account in ABC.com's environment. Which of the following options are TRUE with regards to this scenario?

26 A. Posting a payment to a temporary vendor account is essential. B. Posting a payment to a temporary customer account is essential. C. Posting a payment to a temporary sales account is essential. D. Posting a payment to a temporary main account is essential. /Reference: : QUESTION 23 You are in the process of performing a consolidation for consolidated legal entity. You have been informed that the previous consolidation data must not be used again. Which of the following actions should you take? A. You should manually delete the transactions in the Consolidation form. B. You should click the Remove transactions button in the Consolidation form. C. You should click the Remove transactions button in the general journal. D. You should manually delete the transactions from the database. /Reference: QUESTION 24 You are preparing to generate an elimination journal. When can an elimination journal be generated? (Choose all that apply.) A. During the consolidation process. B. During the installation process. C. By using an elimination journal proposal. D. By using the general journal. C /Reference: QUESTION 25 CORRECT TEXT You are required to run a report that displays customer transactional data for a period.

27 Which of the following actions should take? A. You should make use of the customer account statement. B. You should make use of the customer account form. C. You should make use of the customer account journal. D. You should make use of the customer transaction journal. /Reference: QUESTION 26 A new application user, named Kara Lang, has been asked to create a financial workflow. Kara Lang has never done this before, and is trying to gather as much data regarding the task as possible. Kara Lang is particularly curious about what a workflow configuration is based on. Which of the following actions should you take? A. You should inform Kara Lang that it is based on a previously created workflow. B. You should inform Kara Lang that it is based on a workflow type. C. You should inform Kara Lang that it is based on a workflow style. D. You should inform Kara Lang that it is based on the system's installation method. Correct Answer: B /Reference: QUESTION 27 You have been instructed to train a batch of new ABC.com application users. One of the application users has asked what the impact of creating a workflow approval for journal has on the user interface element. Which of the following best describes your response? A. A yellow information bar is displayed. B. A red information bar is displayed. C. A purple information bar is displayed. D. A pink information bar is displayed. /Reference: QUESTION 28

28 You are in the process of closing the fiscal year end. You are currently making adjustments in the Closing sheet. You want to select an adequate posting layer. Which of the following options are available to choose from? (Choose all that apply.) A. Tax B. Previous C. Current D. Operations minus tax E. Operations F. Operations plus tax CE /Reference: QUESTION 29 This includes the use of Inventory and warehouse management. The company has reached the end of the fiscal year, and the ABC.com's accountants have indicated that the fiscal year end process can be started. You have checked the closing options that were selected in the General ledger parameters form. Which of the following actions should you take NEXT? A. You should conclude the inventory closing process. B. You should conclude month-end and other period closings in all modules. C. You should print financial reports for the month and quarter. D. You should back up the legal entity's data. /Reference: QUESTION 30 You have been instructed to analyze the following: General Ledger transactions. Customer balances. Budget transactions. Which of the following actions should you take?

29 A. You should consider making use of a Financial statement. B. You should consider making use of a Dimension statement. C. You should consider making use of a Privacy statement. D. You should consider making use of a Project statement. Correct Answer: B /Reference: QUESTION 31 You have received instructions to update an existing row definition structure. Prior to running the update, you access the Structure designer form to choose the Check, and the Simulate check boxes. Which of the following options is the reason for doing this? A. To make sure that the update aborts as soon as it detects errors. B. To make sure that the update is not aborted for any reason. C. To prevent other updates from interrupting this update process. D. To detect whether there are any errors or duplicates in the row definition structure. /Reference: QUESTION 32 You have received instructions to design a financial statement for ABC.com. you have created a financial dimension set, and a row definition. Which of the following is the step that you should take NEXT? A. You should print the report next. B. You should design the financial statement row structure next. C. You should create the financial statement column definition next. D. You should set up the file formats for the export of financial statements next. Correct Answer: B /Reference: QUESTION 33 You are in the process of designing a financial statement for ABC.com. Which of the following options are TRUE with regards to financial statements? (Choose two.)

30 A. You are able to view discrepancies at the bottom of a printed financial statement by creating an exception row type in the row definition. B. You are able to view discrepancies at the bottom of a printed financial statement by creating a dimension set section in the row definition. C. You are able to design a financial statement by only using ledger accounts. D. You are unable to export financial statements to Microsoft Excel. C /Reference: QUESTION 34 You have been asked to set up number sequences for fixed assets. Which of the following are TRUE with regards to this process? A. You have to set up number sequences for fixed assets and fixed asset groups so that you are able to type the number of each fixed asset in the Fixed asset number field. B. You can either set up number sequences for fixed assets based on a default number sequence, or based on fixed asset groups. C. You can only set up number sequences for fixed assets based on a default number sequence. D. You can only set up number sequences for fixed assets based on fixed asset groups. Correct Answer: B /Reference: : QUESTION 35 You have been asked to analyze the value models linked to a particular fixed asset. Which of the following actions should you take? A. You should navigate to the Fixed asset journal. B. You should navigate to the Fixed asset group form. C. You should navigate to General. D. You should access the Fixed asset workflow. Correct Answer: B /Reference: QUESTION 36

31 You are currently processing a depreciation adjustment. Which of the following is TRUE with regards to depreciation adjustment? A. A depreciation adjustment normally occurs when a correction to a posted depreciation transaction is posted. B. A depreciation adjustment allows the main account to be used to credit the depreciation amount to the balance sheet and reduce the value of the fixed asset. C. A depreciation adjustment allows depreciation to take extra depreciation amounts during the first year that an asset is placed in service and depreciated. D. A depreciation adjustment can only be a negative amount. /Reference: QUESTION 37 You are in the process of setting up a general journal in the General ledger. You now need to specify the journal type. Which of the following actions should you take? A. You should consider specifying the Daily journal type. B. You should consider specifying the Periodic journal type. C. You should consider specifying the Weekly journal type. D. You should consider specifying the Monthly journal type. /Reference: : QUESTION 38 Mia Hamm is in the process of setting up a fixed asset group. Which two of the following are TRUE with regards to fixed asset groups? (Choose two.) A. Fixed asset groups must be created from inventory items. B. Fixed asset groups enable the setup of fixed assets to be simpler. C. The capitalization threshold can be set up in Fixed asset groups for all fixed assets, whether they were created from Accounts payable or not. D. Fixed asset groups assist with the organization of data for reporting and decision-making in relation to assets. Correct Answer: BD /Reference:

32 QUESTION 39 A user, named Kara Lang, is preparing to set up a value model for a fixed asset. Which of the following actions should Kara Lang take? (Choose all that apply.) A. Kara Lang should set up depreciation profiles to assign to the value model prior to setting up the value model. B. Kara Lang should set up depreciation profiles to assign to the value model subsequent to setting up the value model. C. Kara Lang should set up a fiscal calendar to assign to the value model prior to setting up the value model. D. Kara Lang should set up a fiscal calendar to assign to the value model subsequent to setting up the value model. C /Reference: : QUESTION 40 A ABC.com user, named Mia Hamm, is preparing to post a product receipt. The product being received must be received as a fixed asset. Mia Hamm wants to automatically create the fixed asset during the posting process in Accounts Payable. Which of the following actions should she take? A. Mia Hamm should wait for the posting of the vendor invoice to create the fixed asset to prevent two fixed assets being created in the system. B. Mia Hamm should manually create the fixed asset, prior to posting the product receipt. C. Mia Hamm should make sure that the line containing the product has the Allow asset acquisition from Purchasing check box selected. D. Mia Hamm should make sure that the line containing the product has the Create a new fixed asset check box selected. /Reference: QUESTION 41 You have been instructed to make sure that barcodes are assigned to fixed assets by setting up automatic number sequences. Which of the following forms should be used? (Choose all that apply.) A. Fixed asset form B. Fixed asset parameters form

33 C. Fixed asset group form D. Free text invoice form E. General ledger parameters form Correct Answer: CE /Reference: QUESTION 42 A ABC.com user, named Kara Lang, is preparing to post an invoice that contains a fixed asset number for a ABC.com vendor. Which of the following is TRUE for this scenario? (Choose all that apply.) A. If the Allow asset acquisition from Purchasing check box is chosen in the Fixed assets parameters form, the acquisition is posted automatically. B. The acquisition is posted automatically whether the Allow asset acquisition from Purchasing check box is chosen or not. C. You are able to manually enter an acquisition transaction in Fixed assets If an acquisition cannot be posted D. An acquisition proposal cannot be used to create multiple acquisition transactions simultaneously in the Fixed assets journal. C /Reference: : QUESTION 43 You have been instructed to set up the system with the default method for integrating Fixed assets and Accounts payable. Which of the following describes the default method? A. During manual creation of a fixed asset prior to adding the fixed asset number to the line on the purchase order or vendor invoice, an acquisition transaction should automatically be posted for the asset when you post the vendor invoice. B. During manual creation of a fixed asset prior to adding the fixed asset number to the line on the purchase order or vendor invoice, an acquisition transaction should not be posted for the asset when you post the vendor invoice. C. When you post a product receipt or vendor invoice that has the Create a new fixed asset check box selected, a fixed asset automatically is created and an acquisition transaction should automatically be posted for the asset when you post the vendor invoice. D. When you post a product receipt or vendor invoice that has the Create a new fixed asset check box selected, a fixed asset automatically is created and an acquisition transaction should not be posted for the asset when you post the vendor invoice.

34 /Reference: QUESTION 44 You have been instructed to process a Disposal sale fixed asset transaction. You are required to make use of the Free text invoice form. Which of the following options are TRUE with regards to Free text invoices? (Choose two.) A. Free text invoices have to be attached to a sales order. B. Free text invoices are not attached to sales orders. C. A Free text invoice can be generated for a client, whether the client has been blocked or not. D. A Free text invoice cannot be generated for blocked clients. Correct Answer: BD /Reference: QUESTION 45 You are required to make an adjustment to the acquisition price of an asset. The adjustment should reflect an increase to the value of the asset. Which of the following actions should you take? A. You should consider making use of Revaluation. B. You should consider making use of Write-down adjustment. C. You should consider making use of Provision for bad debts. D. You should consider making use of Write-up adjustment. /Reference: