MB7-515 - Microsoft Dynamics NAV 5.0 Financials

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Example Questions

The Adjust Exchange Rates batch job posts the exchange adjustments related to customer and vendor ledger entries to which G/L accounts? You have set up a bank account with the USD currency code. What rules apply in relation to vendor payments made from this bank account? Which of the following statements is TRUE about dimensions? For LCY Conversion Rounding to take place, the following accounts need to be set up in the Currency Card: When using the date compression option in the analysis view card, the Posting Date for the compressed entries will be the: General Business Posting Groups are: Choose the 2 that apply. To reverse a Customer Ledger Entry, all of the following statements are true except: Which of the following statements are correct for budgets? Choose the 2 that apply. Choosing the "Limited" option in Dimension Combination Setup allows which of the following? When you have selected the Recurring Method of Reversing Fixed on a recurring journal line, the program will post a reversing entry on what date? It is possible to unapply Customer Ledger Entries from which of the following windows? Choose the 2 that apply. In the Apply Customer Entries window, which of the tabs must contain an entry so that you are allowed to post? What is the Debit/Credit field on the Chart of Accounts Card used for? Dimension Priorities for Sales Journal entries are set as "2" for the Item table and "1" for the Customer table. What is the effect? If you want to see the dimensions assigned to the entries in a specific G/L account, you must use the: In addition to summarizing per Vendor, you can also select what other option in the Suggest Vendor Payment window? What information is entered in the Totaling field of a row in an Account Schedule if the Totaling Type field has the "Total Accounts" option selected? Your client has posted an application of an invoice entry and a payment entry. A payment discount was possible but was not calculated by the program when the entries were applied. What is the most likely reason for the payment discount being ignored? If you choose the "Variable" Recurring Method on a Recurring Journal, which one of the following describes how Microsoft Dynamics NAV will process the journal? You are creating an account schedule column that displays the net change in account balances for the fiscal year in which the account schedule period ends. In the Column Layout, you select a Column Type of: Which RIM Toolkit elements help to structure new data? Choose the 2 that apply. To post VAT adjustment entries when payment discounts are granted, you must click the Adjust for Payment Disc. field in the General Ledger Setup window and: In order to reverse Vendor Ledger Entries, the following must be true: Choose the 3 that apply. What is the result of blocking a Dimension Code? How are menus assigned to users? Which of the following is TRUE of closed VAT Entries? When you run the Adjust Exchange Rate batch job, which of the three date fields on the Options tab of the batch job request form is used to select the Currency Exchange Rates entry to be used in the update? You want to compare actual and budgeted amounts for a single G/L account over several time intervals. This information can be found in the: A customer has several invoices and credit memos so that the customer's balance is now negative. You have entered a Customer as the Account Type in a Cash Receipt Journal and applied all the credit memos and invoices. What else must occur so that when you post the journal it will bring the customer balance to 0. Choose the 3 that apply. The Adjust Exchange Rates process will not update which of the following records? Each department in a company prepares a department budget but not all departments have access to Microsoft Dynamics NAV. How can you create both the consolidated and department budgets in Microsoft Dynamics NAV? What is the minimum acceptable level of security that requires that each user is assigned an ID and a password? The number of G/L Accounts that you can specify in the Currency window in relation to the Additional Reporting Currency is: You are about to implement a new Microsoft Dynamics NAV installation by using the RIM Toolkit. The customer is a small furniture manufacturing company with two years in business. The company has not used an ERP system before, and legacy data is available in Microsoft Excel format. Which of the following overall RIM processes do you follow to achieve the fastest implementation? The primary balance sheet G/L Account associated with the Customer Posting Group is: What criteria must be satisfied before you can post the bank reconciliation? In order to suggest the lines for the Bank Reconciliation, what must you do? It is possible to unapply Vendor Ledger Entries from which forms? Choose the 2 that apply. One of the consequences of closing a fiscal year is that you: In regard to applying entries after posting, which of the following statements is TRUE? You are about to post payment of a vendor's invoice, two days past the payment discount date. Your vendor has agreed to still give you the discount. What must you do to have Microsoft Dynamics NAV accept the discounted amount when you post the payment? What field must equal zero before you can post a General Journal? What technique does Microsoft Dynamics NAV use to allow multiple users access to the database at the same time? In the General Ledger Setup window and the Currencies window, you define the maximum VAT difference allowed for LCY and each foreign currency. Do you need to do more before you can enter VAT manually in a purchase order document? Which of the following is TRUE in relation to account schedules that do not have an analysis view assigned? You have inserted a check mark in the "Calculate Interest" field for the reminder terms code REMINT. What else do you need to do to make sure the program calculates interest on reminders? Your client wants the program to automatically assign a set of dimensions to every transaction posted for a specific customer. This is achieved by setting up: London Postmasters has limited funds available for paying its vendors, therefore; on each vendor card, the company has entered a number from 1 to 3 in the "Priority" field. What have they specified? You have posted a cash payment of 290 which appears incorrectly on the bank statement as 209. When completing the bank reconciliation, how can you record this difference? Which dimension feature needs to be set up to prevent the posting of the "LARGE" Business Group dimension value with the "HOME" Customer Group dimension value?