Microsoft Financial Management in Microsoft Dynamics 365 for Finance and Operations (MB6-895) Free Practice Test
Question 1
The controller of your company has received notice from the taxing agency of another state that the sales tax rate on the company's products sold in that state will increase by 0.5% starting on January 1st and continuing in perpetuity.
You must make all changes necessary in Microsoft Dynamics 365 for Finance and Operations to make these changes take effect on January 1st.
Which object in Microsoft Dynamics 365 for Finance and Operations should be modified to make this change?
You must make all changes necessary in Microsoft Dynamics 365 for Finance and Operations to make these changes take effect on January 1st.
Which object in Microsoft Dynamics 365 for Finance and Operations should be modified to make this change?
Correct Answer: C
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Question 2
The accounting manager for your company has been manually processing payments to sales tax authorities for the past several years. You recently learned that Microsoft Dynamics 365 for Finance and Operations can automate much of those tasks.
You need to configure Microsoft Dynamics 365 Finance and Operations to calculate and make periodic payments to tax authorities automatically.
Which two tasks should be completed to make this configuration? Each correct answer presents part of the solution. (Choose two.)
You need to configure Microsoft Dynamics 365 Finance and Operations to calculate and make periodic payments to tax authorities automatically.
Which two tasks should be completed to make this configuration? Each correct answer presents part of the solution. (Choose two.)
Correct Answer: C,D
Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).
Question 3
While you are printing checks, one of the checks gets jammed in the printer and must be reprinted.
You need to cancel the damaged check.
Which feature should you use for cancelations?
You need to cancel the damaged check.
Which feature should you use for cancelations?
Correct Answer: C
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Question 4
You are creating and posting a sales tax transaction.
The sales tax percentage is incorrect for the current transaction and will need to be revised prior to posting a transaction.
You need to correct the sales tax percentage for this order and all future orders.
Where should you make the configuration change?
The sales tax percentage is incorrect for the current transaction and will need to be revised prior to posting a transaction.
You need to correct the sales tax percentage for this order and all future orders.
Where should you make the configuration change?
Correct Answer: A
Question 5
You have been tasked with reviewing and processing transactions in the General ledger module. You need an allocation to depend on the actual ledger balance.
When setting up an allocation rule, which method should you select?
When setting up an allocation rule, which method should you select?
Correct Answer: D
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Question 6
You want a summarized chart of accounts in the Consolidation company. Many accounts from Subsidiary companies combine into single summarized accounts within this Consolidation company.
Which two items do you need to set up? Each correct answer presents part of the solution. (Choose two.)
Which two items do you need to set up? Each correct answer presents part of the solution. (Choose two.)
Correct Answer: B,D
Question 7
Your company has acquired customers in a new state. The company must collect sales tax on the product sales to those customers.
As bookkeeper, you need to configure Microsoft Dynamics 365 for Finance and Operations to report collected sales tax to the new customers' state authorities.
Which configuration controls the payment of sales tax to the new state?
As bookkeeper, you need to configure Microsoft Dynamics 365 for Finance and Operations to report collected sales tax to the new customers' state authorities.
Which configuration controls the payment of sales tax to the new state?
Correct Answer: B
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Question 8
You need to send a notification to customers about invoices with outstanding balances at the end of the month.
Which three actions should you complete? Each correct answer presents part of the solution. (Choose three.)
Which three actions should you complete? Each correct answer presents part of the solution. (Choose three.)
Correct Answer: A,B,D
Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).