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QUESTION NO: 1
Your company has purchased 10 new trucks for $20,000 each for the service department. The controller has determined that the trucks will be sold after 10 years with a salvage value of about
10%. The county assessor lists 7 years as the useful life of these trucks. For purposes of financial statement reporting, the company will carry these on the books for 5 years. The controller wants these tracked with other vehicles in the VEH group.
You need information from the controller in order to set up accounting for these fixed assets.
What information will be entered into the books for these trucks?
A. a depreciation period of 36 months for tax purposes
B. a depreciation period of 120 months for tax purposes
C. a depreciation period of 60 months for tax purposes
D. a depreciation period of 84 months for tax purposes
Answer: C
QUESTION NO: 2
You are assisting a customer with the initial setup of Microsoft Dynamics 365 for finance and
Operation.
You need to start the Fiscal Calendar setup process.
Which capability of Microsoft Dynamics 365 for Finance and Operations will meet this customer's need?
(Choose two.)
A. Multiple fiscal calendars can be defined for a single legal entity.
B. Once a fiscal year is defined, months and quarters are auto-populated.
C. A fiscal year can be divided into either quarters or months.
D. A fiscal year can be set to any length of time.
Answer: B D
QUESTION NO: 3
You want to import foreign currency exchange rates on a daily basis, rather than having to enter them manually.
Besides the date or dates of the rates to be imported, which two pieces of information are required on the import currency exchange rates from? Each correct answer presents a complete solution.
(Choose two.)
A. Exchange rate type
B. Currency revaluation account
C. Currency codes
D. Exchange rate provider
Answer: A D
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general- ledger/import-currencyexch
QUESTION NO: 4
You need to configure an allocation on account 606785 for the Utilities expense. The amount must be spread across a variety of departments based on percentage.
What should you do?
A. Create a legal entity override on main account 606785 and then define the allocation percentage.
B. Create an allocation term and link it to main account 606785.
C. Create a financial dimension default template with allocation percentages and link it to main account 606785.
D. Create a ledger allocation basis and link it to main account 606785.
Answer: D
QUESTION NO: 5
You open up the Financial period close workspace and see an exclamation point icon next to one of your tasks. What does the exclamation point icon next to the task mean?
A. That task has not been completed yet
B. The task has been completed
C. The tasks depends on other incomplete tasks
D. The task is past due
Answer: D
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general- ledger/financial-periodcloseworkspace
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Updated: May 28, 2022