Q1. You are implementing consolidations for your company. You want to use the consolidation conversion principles to convert subsidiary data in foreign currencies.

What are three requirements for starting the consolidation process? Each correct answer presents part of the solution.

A. Consolidation accounts

B. Balance control account

C. Consolidation account group

D. Legal Entity

E. Ledger elimination rule

View Answer

Q2. 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

View Answer

Q3. 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.

View Answer

Q4. 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

View Answer

Q5. 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.

View Answer

Q6. 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

View Answer

Q7. You need all budget transfers to use a workflow except the specific members of the budget transfer rules.

When creating a budget transfer rule, what information is used to define when transfers are allowed?

A. the dimensions on the transfer

B. the amount of the transfer

C. the date of the transfer

D. the employee requesting the transfer

View Answer

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

View Answer

Q9. 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.

View Answer

Q10. 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.

View Answer