Microsoft Dynamics AX 2012 R3 Financials (MB6-702) Free Practice Test

Question 1

Which three statements about value models are correct? Each correct answer presents a complete solution.

A. A value model defines how an asset is depreciated.

B. Assigning a value model to a fixed asset is required.

C. Value models define the number sequence to be used when creating a fixed asset.

D. An unlimited number of value models can be assigned to an asset.

E. Value models track the financial value of a fixed asset over time.

Correct Answer: A,D,E

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Question 2

You are setting up cash flow management in your organization by using Microsoft Dynamics AX 2012.
A delay of five days is expected from the due date of the payments to the date on which the payments are drawn from
your bank account
Where on the Vendor groups form should you set up this delay?

A. The Terms of payment field

B. The Settle period field

C. The Forecast tab

D. The Default account setup tab

Correct Answer: B

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Question 3

Which three transaction types can you use to dispose of an asset? Each correct answer presents a complete solution.

A. Write off

B. Provision for reserve

C. Scrap

D. Extraordinary depreciation

E. Sale

Correct Answer: A,C,E

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Question 4

You are configuring budgets for your organization. Your organization uses a scientifically calculated, predefined
percentage of direct expenses for each of its departments.
You need to define these percentages so that the budget automatically allocates to these departments from the main
accounts.
What should you configure?

A. Budget period allocation keys

B. Budget control rules

C. Budget transfer rules

D. Budget allocation terms

Correct Answer: D

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Question 5

To which two entities can you lend a fixed asset? Each correct answer presents a complete solution.

A. Another legal entity LIB

B. An employee

C. A fixed asset group

D. A contractor

Correct Answer: A,C

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Question 6

You need to ensure that you have the most current data to manage customer collections.
What should you create first?

A. A customer pool

B. A customer account statement

C. A customer aging snapshot

D. A customer balance list

Correct Answer: C

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Question 7

The accounts receivable manager runs a foreign currency revaluation on February 5. The foreign currency revaluation
has a considered date of January 31. The period closing for this revaluation is set for January 31.
What is the result of this invoice revaluation if the invoice is settled on February 3?

A. The revaluation includes only documents that have settled amounts on the considered date.

B. The revaluation excludes documents that have been settled on the considered date.

C. The revaluation includes all documents, excluding unposted, that have open amounts on the considered date.

D. The revaluation includes all documents, including unposted, that have open amounts on the considered date.

Correct Answer: C

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Question 8

What is the purpose of a budget planning stage?

A. To identify categories and objectives for a budget plan

B. To link the budget plan workflows to the budget plan scenarios

C. To identify the quantities or amounts that are included in a budget plan

D. To identify the steps that a budget plan goes through

Correct Answer: C

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Question 9

Which entity is used to define sales tax percentages or amounts?

A. Sales tax codes

B. Sales tax groups

C. Sales tax authorities

D. Item sales tax groups

Correct Answer: A

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Microsoft Dynamics AX 2012 R3 Financials (MB6-702) Free Practice Test