Q1. An accountant needs to define which main accounts and financial dimensions can t>e used together when entering journals and transactions.
The accountant sets up the chart of accounts and creates the financial dimensions.
What are two possible actions the accountant can perform next to achieve the goal? Each correct answer presents a complete solution.
A. Configure Account Structure.
B. Create Derived Financial Hierarchies.
C. Set up Advanced Rules.
D. Set up Financial Dimension Sets.
Answer: B,D
Q2. Your company needs to reuse a check number in case a check was printed incorrectly or the check stock was not used. You need to allow reuse of the check number. Where do you define this action?
A. in the Vendors area of the Accounts payable parameters setup form
B. in the Customers area of Accounts receivable parameters setup form
C. in the Cash and bank management parameters form of the Cash and bank management parameters setup form
D. in the Posting area of the General ledger parameters setup form
Answer: A
Q3. A financial controller wants to match the total amounts on an invoice to the total amounts on a pur-chase order. Which type of matching should the controller use?
B. Not required
C. Charges matching
D. Three-way matching
Answer: D
Q4. Your company is using basic budgeting and is planning to configure budget control. You need to identify the additional configuration that is needed.
Which three components will already be configured as s part of the basic Budgeting setup? Each correct answer presents part of the solution.
A. budget models
B. budget exchange rates
C. over budget permissions
D. budget cycles
E. documents and journals
Answer: C,D,E
Q5. Your company is considering tracking budgets by Account, Department, and Cost Center dimensions. There is a requirement to prevent exceeding the budgeted amounts for each Department but not for each Cost Center.
Which three actions must be performed to allow budget control for Accounts and Department, and basic budgeting by Account, Departments, and Cost Center, before budget control is enabled? Each correct answer presents part of the solution.
A. Select only “MainAccount” and “Department” as budgeting dimensions.
B. Select the main accounts for budget control.
C. Select only “MainAccount” and “Department” as budget control dimensions.
D. Select only “Department” as a budget control dimension.
E. Select only “MainAccount,” “Department” and “CostCenter” as budgeting dimensions.
Answer: B,C,D
Q6. You are an accounts payable clerk. During a check run, Microsoft Dynamics AX Financials generates a check and posts the payment journal. The check is sent to the vendor, but you then learn form the vendor that the check has not been received. In order to reverse the check payment, which two actions should you perform? Each correct answer presents part of the solution.
A. Go into the check reversal journal, and post the check reversal
B. From the Settle transaction screen on the vendor record, select the invoice and payment, and post it.
C. From the checks from select to reverse the check
D. Create a new vendor payment journal and add a reversing entry.
Answer: C,D
Q7. You are setting up an allocation rule and distributing amounts based on revenue dollars.
You need to share the cost of corporate advertising expenses across all departments and base each department’s sales in proportion to the total sales of all departments.
Which allocation should you choose?
A. Fixed Percentage
B. Equally
C. Fixed Weight
D. Basis
Answer: B
Q8. You are an accountant.
You are creating your travel expense budget for the fiscal year and want to enter the same budget amount for each month.
On the budget register entry, which option should you choose?
A. transfer balances
B. allocate across dimensions
C. enter recurrence
D. allocate across periods
Answer: A
Q9. Your company has acquired an additional company and wants any differences from the consolidation to be posted to the profit and loss account.
What should you configure to achieve this goal?
A. account for automatic transactions
B. transaction posting definitions
C. liquidity accounts
D. balance control account
Answer: A
Q10. You are processing a customer payment and want to generate a payment line based on due date so that you can search the invoice lines that meet selected search criteria.
What should you do?
A. Use Settlement
B. Use payment transfer.
C. Use Manual Payment Journal
D. Use Payment proposal
Answer: A