[MB6-895 Free Questions] MB6-895 Financial Management in Microsoft Dynamics 365 for Finance and Operations

Do you want to pass your Microsoft Dynamics 365 MB6-895 exam? Candidates for MB6-895 exam implement, deploy, use, maintain, or support Microsoft Dynamics 365 for Finance and Operations in their customers’ organizations. Candidates for this exam should have a moderate understanding of finance and accounting concepts and processes, but they are most likely not experts. They need an understanding of which Finance and Operations functionalities apply to the different business processes.

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Test Begin:

1. You are creating a budget register entry for rent. You created a line for account 671450 with cost center 10 for an amount of 8,900.00 USD.

You need to duplicate the line for each month of the year.

What should you do?

Use the allocate across period feature.

Use the allocate across dimensions feature.

Create a recurring entry.

Create a periodic journal.

2. Your company has enabled commitment accounting.

You need to identify which purchasing scenarios in your company should use the commitment accounting feature.

In which two situations should you use encumbrance? Each correct answer presents a complete solution.

for month utility payments

to repair services

for emergency purchases

to make internal purchases

3. You are responsible for budget and are currently creating a budget.

You need to identify the steps that the budget plan will contain.

Which budget planning feature should you use to identify the steps?

budget planning stages

budget planning workflow stages

budget plan scenarios

budget plan priorities

4. You are creating a new budget register entry. You create a line to account 606800 for 10,000.00 USD on January 1st of the current year.

You need to spread the amount, based on a sales curve over the entire year.

What should you do?

Use the Allocate across dimension function on the line.

Create a recurring entry.

Create an allocation basis and rule.

Use the Allocate across periods function on the line.

5. You are implementing the budget control feature for Contoso, LTD

You need to configure the system based on the requirements you have gathered.

Which three settings can be defined for the Budget control configuration feature? Each correct answer presents a complete solution.

the various transactions that will have a budget check performed

the transactions to be included and excluded in the budget funds available

the budget planning stages and templates for uploading the budget

the main accounts and financial dimensions to be validated

the worldflow that is required when a budget is exceeded

6. You are consultant who works for Contoso, Ltd. You are implementing Microsoft Dynamics 365 for Finance and Operations and have gathered requirement from the client for their budgeting process.

You need to identify which requirements rom Contoso, Ltd. should be configured as a budget planning stage.

Which requirement should you identify?

The budget plan needs to use a workflow that routes for two approvals before the status can change to approved.

The budget plan needs to go through three steps for created, approved, and final.

The budget plan needs to include prior year actual and prior year budget quantities and amounts.

The budget plan needs to include two objectives; one for lower cost and another for increasing sales.

7. Which two elements are required before you can create a budget plan in Microsoft Dynamic 365 for Finance and Operations? Each correct answer presents part of the solution.

budget planning process

budget cycle time span

budget plan preparer

budget plan priorities

8. You are the budget manager at Contoso, Ltd. You have implemented a new policy that requires some departments to have a different budget threshold from other departments.

You need configure Microsoft Dynamics 365 for Finance and Operations to ensure that the new policies are enforced.

What should you configure?

budget funds available calculation

budget control rules

budget allocation terms

budget planning scenario constraints

9. You create a new budget register entry. You later realize that the date for the lines is set to today’s date.

You need to quickly correct the dates to be the first day of the current month.

What should you do?

Use the periodic journal feature to save the journal, then create a new journal with the correct date in the dialog.

Select all the lines on the budget register entry, and then use the allocate across periods feature to update the date.

Select all the lines on the budget register entry, use the copy feature to duplicate all the lines, and select the correct date.

Use the open lines in Excel feature, modify the entries to have the correct date, and then publish the spreadsheet.

10. What is the purpose of the budget control feature in Microsoft Dynamics 365 for Finance and Operations?

to enforce that sufficient budget funds are available for planned or actual transactions

to consolidate multiple budget plans into a single parent budget

to set financial and operational goals

to analyze and update the planned budget for each budget cycle

11. You department manager wants an estimate of the actual invoice amounts that you will bill for customer the month. However, the department manager does not want these amounts posted.

You need to create a pro forma invoice

From which two types of transactions can you create a pro forma invoice? Each correct answer presents a complete solution.

Payment schedule

Free text

Sub ledger

Sales order

12. While you are printing checks, one of the checks gets jammed in the printer and must be reprinted.

You need to cancel the damaged check.

Which feature should you use for cancelations?

Payment reversal

Undo settlement

Void the transaction

Void the payment

13. You create and post a payment journal with a method of payment that is configured with bridging account. The bank notifies you that the payment has cleared the account.

What should you do next?

Create a general journal, and use theBridged transactions feature to select and move the payment to a Bank account.

Create a general journal with an offset account for the correct bank, and use the Settlement feature to select the Bridged transactions to clear.

Create a general journal,adding lines to debit the bridging accounts and credit the bank account, then use the Bridged transaction feature to mark the journal lines for settlement.

Create a general journal, adding lines to debit the bridging account and credit the bank account, then use the bank reconciliation feature to settle the Bridged transaction with the bank transaction.

14. You are the fixed asset manager at Contoso, Ltd. You have recently inventoried the company’s laptops, identified several laptops that have reached end of life, and decided to sell the laptops.

You need to generate a document and record the sale of each asset.

What should you create?

a fixed asset journal

a sales order

a return purchase order

a free text invoice

15. You need to set up conditional sales tax on a transaction.

Which two steps are always required, regardless of the country the sales tax is being processed in? Each correct answer presents part of the solution.

Create ledger posting groups.

Create two sales tax codes.

Create ledger accounts.

Create two settlement periods.

16. You need ensure that you have the most current data to manage customer collections.

What should you create first?

a customer aging snapshot

a customer pool

a customer account statement

a customer balance list

17. You are creating a posting a sales tax transaction.

The sales tax percentage is incorrect for the current transaction and will need to be revised prior to posting a transaction.

You need to correct the sales tax percentage for this order and all future order.

Where should you make the configuration change?

Item sales tax groups

Sales tax authorities

Sales tax groups

Sales tax codes

18. You are configuring Microsoft Dynamics 365 for Finance and Operations.

You need to allow finance user to acquire assets by creating Fixed assets journals.

Which configuration should you complete to enable this functionality?

In the General ledger module, create a journal name with the type Post fixed assets.

In the General ledger modules, create a Default description with the type Fixed assets C posting, ledger.

In the Fixed assets module, create an Acquisition method for Fixed asset journals.

In the General ledger module, create a journal name with the type Fixed asset budgets.

19. You are reviewing and processing transactions in the General ledger module.

What are three account types that you can choose in a General ledger journal? Each correct answer presents a complete solution.

Project

Item

Inventory

Vendor

Customer

20. You are working with transactions in the Cash and bank management module.

You need to create a deposit slip.

When creating a deposit slip, which of the following statement is possible?

You can generate one deposit slip for each back account for multiple journals.

You can generate one slip for multiple journals each day.

You can generate separate deposit slip for each voucher in a journal.

You can generate one deposit slip for each journal related to each bank account.

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[MB6-895 Free Questions] MB6-895 Financial Management in Microsoft Dynamics 365 for Finance and Operations

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