MB6-702 - Microsoft Dynamics AX 2012 R3 Financials
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Which three objects can be used to define fixed asset posting profiles? Each correct answer presents part of the solution.
Fixed asset group
Which statement about generating deposit slips is correct?
You can generate one deposit slip per journal per bank account.
You need to update the organization hierarchy to prepare for a reorganization of your business. Which effective date is valid when you publish the updated hierarchy?
Any day after the last published effective date
You need to create vendor accounts by using Microsoft Dynamics AX. Which field is mandatory for creating a vendor account?
You need to ensure that you have the most current data to manage customer collections. What should you create first?
A customer aging snapshot
Which three transaction types can you use to dispose of an asset? Each correct answer presents a complete solution.
What is the purpose of collections cases?
To group collection activities and transactions
You create a new bank account. You configure the check layout to be fixed. You need to create the first batch of checks. Where should you create the checks?
The Checks form that is accessed from the Bank account form
You need to configure fixed assets so that information such as asset purchase, depreciation, revaluation, adjustment, and sale or disposal is tracked over the lifetime of the assets. Which form tracks this financial information?
Fixed asset depreciation books form
You enable invoice matching validation by using Microsoft Dynamics AX. Your organization has a policy that requires you to monitor freight cost variances by matching the purchase order to the vendor invoices. Which type of matching should you use?
You are the administrator for a multinational corporation (MNC). The corporation uses multiple chart of accounts and their corresponding financial dimension sets to meet the requirements of different regions. Each region is defined as a separate legal entity. You have defined multiple account structures as a combination of chart of accounts and dimensions. You need to assign these account structures to a specific region. Which form should you use to accomplish this goal?
Your company plans to implement vendor invoice matching. Your company policy states that vendor invoices must be reviewed to compare the prices and quantities on the invoices for accuracy. You need to configure the invoice matching setup. Which type of invoice matching should you configure?
You need to create a fixed asset that records depreciation quarterly. Which form should you use to configure the period frequency for posting depreciation?
What is the purpose of budget control?
To enforce that sufficient budget funds are available for planned or actual purchases
You have an invoice for $10,000. One payment of $3,000 has already posted against this invoice. You need to allow cash discounts on the $3,000 payment. Which action should you perform?
On the Accounts receivable parameters form, select the Calculate cash discounts for partial payments check box.
You are implementing Microsoft Dynamics AX 2012 for an organization that has multiple regions of operation. The organization has a policy that states that centralized payments should be processed through the main office. Which three actions should you perform to enable centralized payments? Each correct answer presents part of the solution.
Set up the organizational hierarchy and the organization hierarchy purposes.
Set up intercompany accounting.
Set up currencies and their respective exchange rates.
What is the purpose of a budget model?
To assign workflow to budget register entries
You are implementing Microsoft Dynamics AX 2012. You need to set up invoices for payment so they are summed up for the payment proposal period. Which period option should you choose?
You need to configure how fixed assets will be numbered. Which two techniques accomplish this goal? Each correct answer presents a
Automatically number fixed assets based on fixed asset groups
Automatically number fixed assets based on a fixed asset calendar.
Which step must be taken before you can record an acquisition of a fixed asset on the General journal form?
Create a fixed asset record.
Your organization has a policy of validating the accuracy of beneficiary account details such as routing numbers and account numbers. Which functionality in Microsoft Dynamics AX 2012 should you set up?
You need to set up the posting profile for realized and unrealized gains and losses. Which two forms should you use? Each correct answer presents a complete solution.
Currency revaluation accounts form
You are setting up cash flow management in your organization by using Microsoft Dynamics AX 2012. A delay of five days is expected from the due date of the payments to the date on which the payments are drawn from your bank account Where on the Vendor groups form should you set up this delay?
The Settle period field
To which two entities can you lend a fixed asset? Each correct answer presents a complete solution.
Another legal entity LIB
A fixed asset group
Which two documents can you use to set up fixed asset acquisitions? Each correct answer presents a complete solution.
Free text invoice
You need to set up preprinted checks in the Cash and bank management module. Which two settings should you define? Each correct answer presents part of the solution.
Check number method set to Fixed
In which three modules can a fixed asset be acquired? Each correct answer presents a complete solution.
General ledger module
Accounts payable module
Which two forms can be used to assign a default item sales tax group? Each correct answer presents a complete solution.
General ledger parameters
When you post an invoice, you receive an error message. Which two actions does the system apply to the invoice? Each correct answer presents a complete solution.
The error log is presented to the user and then saved.
The invoice is placed on hold.
Which three methods can you use to assign bar codes to fixed assets? Each correct answer presents a complete solution.
Assign the bar codes to fixed assets groups.
Assign the bar codes to current fixed assets.
Manually assign the bar codes when you create fixed assets.
You are configuring a budget plan to automatically spread. Which allocation method should you use?
The Allocate across periods method
You are entering a customer sales order that has two lines: one line for item A and one line for item B. The following statements are necessary to calculate sales tax for the sales order: The sales tax group linked to the customer includes sales tax codes ST1, ST2, ST3, and ST4. The item sales tax group linked to item A includes sales tax codes ST1, ST2, and ST5. The item sales tax group linked to item B includes sales tax codes ST1, ST3, and ST5. You need to calculate sales taxes for each of the sales order lines. Which two statements describe how sales taxes are calculated for the sales order? Each correct answer presents part of the solution.
The line with item B is calculated based on sales tax codes ST1 and ST3.
The line with item A is calculated based on sales tax codes ST1 and ST2.
To which object can you link a budget register entry workflow?
You are setting up cash flow forecasting in Microsoft Dynamics AX 2012. You need to ensure that the budget entries are shown in the cash flow. Which action should you perform?
Include the cash flow forecast for the budget model.
You are setting up the cash flow forecast in Microsoft Dynamics AX for your organization. The organization has accounts that are identified as cash or cash equivalents. You need to set up these accounts as liquidity accounts for cash flow forecast purposes. Where do you set up the accounts?
In the Posting area of the General ledger module setup
Which entity is used to define sales tax percentages or amounts?
Sales tax codes
Which two options prevent new checks from posting to a bank account? Each correct answer presents a complete solution.
Set the active dates on the selected Bank account form.
Select the Use review process for deposit slip payment cancellations parameter.
You need to configure a workflow to approve all budget amounts at the line level. Which workflow configuration type should you use?
Budget account entry workflow
Your company uses a fiscal calendar that has the following pattern: First fiscal period is four weeks long. Second fiscal period is four weeks long. Third fiscal period is five weeks long. This pattern repeats throughout the entire fiscal year. You need to configure the fiscal calendar in Microsoft Dynamics AX. How should you create the fiscal calendar?
Set the Unit to Years, and then use the Divide period function to divide the periods appropriately
You are using a voucher template to create a journal voucher. The template type is Percent. The template has four lines with the following amounts: First line: $100 Second line: $200 Third line: S300 Fourth line: $400 When prompted for a voucher amount you enter $2,000. What is the default amount on the third line of the journal voucher?
You need to set up the aging period definitions for the Vendor aging report. What is the maximum number of aging periods that you can define?
Which two transactions can be reversed? Each correct answer presents a complete solution.
Fixed asset depreciation adjustment
A transaction that has already been reversed
What is the difference in the setup of periodic journals and voucher templates?
Periodic journals can contain only one voucher.
You have enabled the Bill of exchange feature in Microsoft Dynamics AX. You post a protest bill of exchange to a customer account. Which account type on the customer posting profile should be debited?
The accounts receivable manager runs a foreign currency revaluation on February 5. The foreign currency revaluation has a considered date of January 31. The period closing for this revaluation is set for January 31. What is the result of this invoice revaluation if the invoice is settled on February 3?
The revaluation includes all documents, excluding unposted, that have open amounts on the considered date.
You are implementing fixed assets for your company. The company requires the following business process for creating assets: 1. A worker completes a capital expenditure form and submits it to the accounting department for review and approval. 2. After the form is approved, the asset is created. 3. A purchasing agent creates a purchase order and submits it to the vendor for processing. 4. When the invoice is received from the vendor, the accounts payable clerk processes an invoice to acquire the asset. No other users are allowed to process the acquisition. You need to configure Microsoft Dynamics AX to meet these requirements. Which two configurations should you complete? Each correct answer presents part of the solution.
Configure the Business rule for fixed assets determination rule.
Set the Check for fixed assets creation during line entry parameter to true.
You need to record fixed asset transactions by using journals. What should you configure before you can begin the recording process?
A journal name that uses the Post fixed assets journal type
In which three scenarios should you use a bridging account? Each correct answer presents a complete solution.
As a method of payment for customers
As a method of payment for vendors
To settle postdated checks for a vendor
What are three operating units that can be used as a financial dimension? Each correct answer presents a complete solution.
You need to create a budget register entry that will spread the amount you enter into the line across multiple business units based on the revenue from the previous quarter. What should you do?
Create a budget allocation term and apply it to the budget register entry.