MB6-871 - Microsoft Dynamics AX 2012 Financials

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Example Questions

In Microsoft Dynamics AX 2012, the accounting currency is set to USD (United States dollars). You create a sales order that has a currency of CAD (Canadian dollars). When you generate the invoice, Microsoft Dynamics AX 2012 displays an error message that the account for penny differences in accounting currency is missing. You need to correct the error. What should you configure? In Microsoft Dynamics AX 2012, a customer has a credit balance in a customer account, but does not have a vendor account. You need to repay the credit balance. What should you do? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. A new employee, named Mia Hamm, has enquired what the definition of encumbrance is within the Microsoft Dynamics AX 2012 financial environment. Which of the following describes your response? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. A ABC.com user, named Mia Hamm, is preparing to post a product receipt. The product being received must be received as a fixed asset. Mia Hamm wants to automatically create the fixed asset during the posting process in Accounts Payable. Which of the following actions should she take? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. Mia Hamm has been asked to configure a process in Accounts Payable that detects discrepancies by comparing the vendor invoice, purchase order, and product receipts information. Which of the following actions should Mia Hamm take? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You are in the process of setting up sales tax codes for ABC.com's environment. Which of the following statements regarding sales tax codes are TRUE? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You have been instructed to delete a check on the Microsoft Dynamics AX 2012 system. Which of the following is TRUE with regards to deleting checks? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You have been instructed to set up the system with the default method for integrating Fixed assets and Accounts payable. Which of the following describes the default method? You need to enable sales tax calculation in Microsoft Dynamics AX 2012. Which of the following must you set up? In Microsoft Dynamics AX 2012, which of the following credit limit tolerances can be set up in Cash and Bank Management? (Choose all that apply.) In Microsoft Dynamics AX 2012 which journal type should you use in the Journal name form if budgets for fixed assets are required? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You have been instructed to configure centralized vendor payments. You are required to complete certain setup procedures before you can start on the required task. You start by creating legal entities, and setting up General ledger parameters. Which of the following describes the other two setup procedures that you first need to complete? (Choose two.) In Microsoft Dynamics AX 2012, where can you review value models that are linked to a fixed asset? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. An application user, named Kara Lang, has received instructions to reimburse a particular customer that has a credit balance. Which of the following statements regarding this process are TRUE? (Choose two.) In Microsoft Dynamics AX 2012, which fixed asset transaction can you process in the Free text invoice form? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You are in the process of performing a consolidation for consolidated legal entity. You have been informed that the previous consolidation data must not be used again. Which of the following actions should you take? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You are in the process of designing a financial statement for ABC.com. Which of the following options are TRUE with regards to financial statements? (Choose two.) In Microsoft Dynamics AX 2012, which of the following statements about depreciation for assets that have not yet been acquired is true? (Choose all that apply.) In Microsoft Dynamics AX 2012, what is a reason code? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You are required to make an adjustment to the acquisition price of an asset. The adjustment should reflect an increase to the value of the asset. Which of the following actions should you take? You set up an asset in Microsoft Dynamics AX 2012. What is the initial status of the value model? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. This includes the use of Inventory and warehouse management. The company has reached the end of the fiscal year, and the ABC.com's accountants have indicated that the fiscal year end process can be started. You have checked the closing options that were selected in the General ledger parameters form. Which of the following actions should you take NEXT? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You are in the process of creating a payment method for a certain ABC.com vendor. You need to choose the method by which invoices are summed in the automatic payment proposal period. Which of the following describes the default value for this method? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. An application user, named Kara Lang, has received instructions to configure the use of charges matching. Which of the following is TRUE with regards to charges matching? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. Mia Hamm has been asked to configure a process in Accounts Payable that detects discrepancies by comparing price information for the net unit price of each item on the invoice. Which of the following actions should Mia Hamm take? You need to loan fixed assets in Microsoft Dynamics AX 2012. What should you do? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You have been instructed to make sure that barcodes are assigned to fixed assets by setting up automatic number sequences. Which of the following forms should be used? (Choose all that apply.) In Microsoft Dynamics AX 2012, which fixed asset transaction type can post simultaneously with standard fixed asset depreciation? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You have been tasked with managing payments that have a status of Sent, but have not been posted as yet. Which of the following actions should you take? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You have previously set up cash flow forecast for sales and purchases. You now need to view the results of the cash flow calculation for sales orders. Which of the following is the path you should make use of? In Microsoft Dynamics AX 2012, which of the following can you analyze by using the Dimension statement? (Choose all that apply.) You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. A user, named Kara Lang, is preparing to set up a value model for a fixed asset. Which of the following actions should Kara Lang take? (Choose all that apply.) You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You have been asked to analyze the value models linked to a particular fixed asset. Which of the following actions should you take? In Microsoft Dynamics AX 2012, how can you assign fixed asset numbering? (Choose all that apply.) In Microsoft Dynamics AX 2012, which of the following is a mandatory step when posting bridging accounts? In Microsoft Dynamics AX 2012, what is the process of Accounts Payable three-way invoice matching? In Microsoft Dynamics AX 2012, which of the following is a requirement for using centralized payments? Which of the following statements about value models for fixed assets in Microsoft Dynamics AX 2012 is true? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You are in the process of setting up a general journal in the General ledger. You now need to specify the journal type. Which of the following actions should you take? Which of the following statements about customer account statements in Microsoft Dynamics AX 2012 are true? (Choose all that apply.) In Microsoft Dynamics AX 2012, you generate a fixed assets acquisition transaction directly from a purchase order invoice. Where will the associated General Ledger postings be made? In Microsoft Dynamics AX 2012, what is the purpose of an invoice register journal? In Microsoft Dynamics AX 2012, which of the following statements about encumbrance accounting (also known as commitment accounting) are true? (Choose all that apply.) In Microsoft Dynamics AX 2012, what is budget control functionality? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. You are working within a general journal. You want to create a new line in the general journal. Which of the following is a combination of account types that are available to you? You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. Mia Hamm is in the process of setting up a fixed asset group. Which two of the following are TRUE with regards to fixed asset groups? (Choose two.) You are employed as an administrator at ABC.com. ABC.com makes use of Microsoft Dynamics AX 2012 in their environment. A ABC.com user, named Kara Lang, is preparing to post an invoice that contains a fixed asset number for a ABC.com vendor. Which of the following is TRUE for this scenario? (Choose all that apply.) In Microsoft Dynamics AX 2012, what process allows you to view inconsistencies at the bottom of a printed financial statement? You need to set up the Microsoft Dynamics AX 2012 chart of accounts for intercompany transactions. Which ledger account type should you specify for the Due to and Due from ledger accounts? In Microsoft Dynamics AX 2012, when can you use the cross-rate functionality in the Accounts Receivable Settle open transaction form?