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2016 Apr MB6-702 Study Guide Questions:
Q1. Which two forms can be used to assign a default item sales tax group? Each correct answer presents a complete solution.
C. Released products
E. General ledger parameters
Q2. You need to update the organization hierarchy to prepare for a reorganization of your business.
Which effective date is valid when you publish the updated hierarchy?
A. Any of the published effective dates
B. Any day after the last published effective date
C. Any day between two of the published effective dates
D. The last published effective date
Q3. 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, including unposted, that have open amounts on the considered date.
D. The revaluation includes all documents, excluding unposted, that have open amounts on the considered date.
Q4. You create a new bank account.
You configure the check layout to be fixed. You need to create the first batch of checks. Where should you create the checks?
A. The Checks form that is accessed from the Bank account form
B. The Payment journal form that is accessed from the Journals area of the Accounts payable module
C. The Checks form that is accessed from the Common area of the Cash and bank management module
D. The Bank documents area that is accessed from the Setup area of the Cash and bank management module
Q5. You apply a customer payment. The payment amount is less than the amount of the invoice.
What are two results of this payment? Each correct answer presents part of the solution.
A. The payment remains open for the amount of the difference between the payment and the invoice.
B. The invoice remains open for the amount of the difference between the payment and the invoice.
C. The payment is settled and closed.
D. The invoice is settled and closed.
Q6. Your organization has a policy of validating the accuracy of beneficiary account details such as routing numbers and account numbers.
Which functionality in Microsoft Dynamics AX 2012 should you set up?
A. Deposit slip
B. Letter of guarantee
D. Bank reconciliation
Up to the immediate present MB6-702 answers:
Q7. Where do you define the Main account information for bank and cash subledger journal account transactions?
A. On the Bank document posting profiles form
B. On the Bank transaction groups form
C. On the Bank groups form
D. On the Bank accounts form
Q8. You are implementing fixed assets for your company.
The company requires the following business process for creating assets:
1. A worker completes a capital expenditure form and submits it to the accounting department for review and approval.
2. After the form is approved, the asset is created.
3. A purchasing agent creates a purchase order and submits it to the vendor for processing.
4. When the invoice is received from the vendor, the accounts payable clerk processes an invoice to acquire the asset. No other users are allowed to process the acquisition.
You need to configure Microsoft Dynamics AX to meet these requirements.
Which two configurations should you complete? Each correct answer presents part of the solution.
A. Configure the Business rule for fixed assets determination rule.
B. Set the Create asset during product receipt or invoice posting parameter to true.
C. Configure a user group for the Restrict asset acquisition posting to user group parameter.
D. Set the Check for fixed assets creation during line entry parameter to true.
E. Set the Allow asset acquisition from Purchasing parameter to true.
Q9. In which three modules is currency rounding configuration an option? Each correct answer presents a complete solution.
B. Project management and accounting
C. Accounts receivable
D. Procurement and sourcing
E. Accounts payable
Q10. When you post an invoice, you receive an error message.
Which two actions does the system apply to the invoice? Each correct answer presents a complete solution.
A. The error log is presented to the user and then deleted.
B. The error log is presented to the user and then saved.
C. The invoice is placed in the pending vendor invoices list.
D. The invoice is placed on hold.
Q11. You are setting up cash flow forecasting in Microsoft Dynamics AX 2012. You need to ensure that the budget entries are shown in the cash flow. Which action should you perform?
A. Set up the settle accounts for the vendor/customer posting profiles to include with the budget accounts.
B. Set up the cash flow forecast in the Accounts receivable and Accounts payable modules.
C. Include the cash flow forecast for the budget model.
D. Calculate the cash flow forecasts for the budget accounts.
Q12. You need to update the depreciation periods for a specific fixed asset. Where can you update the depreciation periods?
A. On the value model for the fixed asset
B. On the Fixed asset parameters form
C. On the main account for the fixed asset
D. On the Fixed asset group form
Approved MB6-702 lab:
Q13. You need to ensure that you have the most current data to manage customer collections. What should you create first?
A. A customer account statement
B. A customer balance list
C. A customer aging snapshot
D. A customer pool
Q14. You are implementing Microsoft Dynamics AX 2012.
You need to set up invoices for payment so they are summed up for the payment proposal period.
Which period option should you choose?
Q15. You have an invoice for $10,000. One payment of $3,000 has already posted against this invoice.
You need to allow cashdiscounts on the $3,000 payment. Which action should you perform?
A. On the Accounts receivable parameters form, select the Calculate cash discounts for partial payments check box.
B. On the Accounts receivable parameters form, select the Calculate cash discounts for credit notes check box.
C. On the Cash discounts form, define the Discount principle area.
D. On the Accounts receivable parameters form, select the Automatic settlement check box.
Q16. You need to configure a workflow to approve all budget amounts at the line level. Which workflow configuration type should you use?
A. Budget register entry workflow
B. Ledger fixed assets budget journal workflow
C. Budget plan workflows
D. Budget account entry workflow
Q17. Which two elements are required to create a budget plan in Microsoft Dynamics AX 2012? Each correct answer presents part of the solution.
A. Budget plan priority
B. Budget plan preparer
C. Budget planning user group
D. Budget planning process
Q18. Which two documents can you use to set up fixed asset acquisitions? Each correct answer presents a complete solution.
A. Free text invoice
B. Invoice journal
C. Sales order
D. Purchase order
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