Q1. You are the accounts payable manager in a European subsidiary of your company.
Your company purchases goods from a vendor that is not located in Europe. The vendor did not charge sales tax on the invoice but the customs office sends an invoice because the goods crossed the border and the company declared them at customs.
What should you do?
A. Report sales tax on the imported goods.
B. Report withholding sales tax on the imported goods.
C. Report conditional sales tax on the imported goods
D. Report sales tax exemption on the imported goods.
Answer: A
Q2. You are an account manager. At the end of each month when you close an account, you are required to make the same entry with the same account numbers and currency amounts. You want to make the process quicker so that each month, you process the journal and post it with the appropriate ac-counting date. What should you create?
A. Voucher template
B. Ledger accruals
C. Periodic journal
D. Ledger allocation rules
Answer: D
Q3. You want a 2% bank charge to appear by default on all electronic methods of payment. What do you need to set up and then link to the method of payment?
A. terms of payment
B. payment specification
C. payment fee
D. payment control
Answer: B
Q4. You need to create a new fixed asset and assign a depreciation profile.
You want this fixed asset to be depreciated by the same percentage in each depreciation period.
Which depreciation method should be set in the depreciation profile?
A. factor
B. manual
C. reducing balance
D. straight line service life
Answer: D
Q5. 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
Q6. You are setting up a sales tax for your customer.
You need to define the ledger account 100001 of posting type "Sales tax" on the ledger posting group for the customer.
Which account group should you choose?
A. use-tax payable
B. use-tax expense
C. sales-tax receivable
D. sales-tax payable
Answer: C
Q7. You are the director of finance.
You are starting to create budgets for the fiscal year and want to generate budget plans from prior year expenses. However, this year, you know your expenses will be more than last.
Which field should you set in the generate budget plan from the general ledger form to account for this increase in budget?
A. Minimum
B. Percent
C. Factor
D. Rounding rule
Answer: B
Q8. An organization has a policy of charging the same depreciation amount for the fixed asset in each de-preciation period. You need to configure depreciation according to this policy. Which depreciation method should you use?
A. Straight line service life
B. Consumption
C. Reducing balance
D. Factor
Answer: A
Q9. You are an account manager. At the end of each month when you close an account, you are required to make the same entry with the same account numbers and currency amounts. You want to make the process quicker so that each month, you process the journal and post it with the appropriate ac-counting date. What should you create?
A. Voucher template
B. Ledger accruals
C. Periodic journal
D. Ledger allocation rules
Answer: D
Q10. You are generating a budget plan from the general ledger.
You first need to select an Action (reason) for how you want to create this budget plan. Which three options can you choose from in Microsoft Dynamics AX Financials? Each
correct answer presents a complete solution.
A. Update the existing budget plan scenario based on a factor.
B. Update the existing budget plan scenario, and append new data.
C. Create a new budget plan from a template.
D. Create a new budget plan.
E. Replace the existing budget plan scenario.
Answer: A,B,C