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Home Microsoft MB-340

Microsoft MB-340 Exam Practice Questions (P. 1)

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Question #1
A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Systems Administrator. Your role will include the management of the Dynamics 365 system.
The company has several departments. You need to configure allocations for the departments. The company has the following requirements for the allocations:
The allocations should be fixed or variable.
Allocation journal entries must be automatically created for review before posting.
You need to configure the system to meet the requirements.
What should you configure?
  1. A
    Transfer balance
  2. B
    Allocation terms
  3. C
    Ledger settlements
  4. D
    Ledger allocation rules

Correct Answer:
D

Question #2
Your role of Systems Administrator includes the management of your company's Microsoft Dynamics 365 Finance system.
You need to configure posting definitions and posting profiles. You need to determine under which circumstance you should configure a posting definition or a posting profile.
Which two of the following statements are true? (Choose two).
  1. A
    You should use posting definitions when you need to support encumbrance accounting for purchase orders and pre-encumbrance accounting for purchase requisitions.
  2. B
    You should use posting profiles when you need to support encumbrance accounting for purchase orders and pre-encumbrance accounting for purchase requisitions.
  3. C
    You should use posting definitions when you need to generate multiple, balanced ledger entries based on attributes such as transaction types and accounts.
  4. D
    You should use posting definitions when you need only one offset ledger entry.

Correct Answer:
AC
Reference:
https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/about-posting-definitions

Question #3
A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Systems Administrator. Your role will include the management of the Dynamics 365 Finance system.
You need to configure fiscal calendars to be used with fixed asset depreciation, financial transactions, and budget cycles.
Which two of the following statements are true? (Choose two)
  1. A
    A fiscal calendar can contain multiple fiscal years.
  2. B
    A fiscal calendar is limited to a maximum of one year.
  3. C
    A fiscal calendar can be used by multiple legal entities.
  4. D
    A fiscal period can contain multiple fiscal calendars.

Correct Answer:
AC
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/fiscal-calendars-fiscal-years-periods

Question #4
Your role of Systems Administrator includes the management of your company's Microsoft Dynamics 365 Finance system. The company has several departments.
The company spends a lot of money each year on marketing campaigns.
You need to configure allocation rules to divide the marketing costs between the company departments.
The marketing expenses must be allocated based on each department's sales in proportion to the total departmental sales.
Which allocation method should you use in the allocation rule?
  1. A
    Basis
  2. B
    Fixed percentage
  3. C
    Fixed weight
  4. D
    Equally

Correct Answer:
A
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/ledger-allocation-rules

Question #5
A company has recently deployed Microsoft Dynamics 365 Finance. You have been hired as a Functional Consultant. Your role will include the management of the Dynamics 365 Finance system and to provide training for members of the Accounts team.
You are providing training on the cost accounting module in the Dynamics 365 Finance system.
Which of the following statements describes the allocation base?
  1. A
    Used to measure and quantify activities, such as machine hours that are used, kilowatt hours that are consumed, or square footage that is occupied.
  2. B
    Defined by calendar, currency, and cost element dimension, it controls processes and policies for measuring costs.
  3. C
    Used as a function to track and categorize costs.
  4. D
    Classifies costs according to their behavior in relation to changes in key business activities.

Correct Answer:
A
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cost-accounting/terms-cost-accounting

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