Microsoft Certified: Dynamics 365 Fundamentals (ERP) - (MB-920) Exam Questions

The correct answer is: Root task. It is a task which neither contains nor is contained by any task.

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The incorrect answers are:

Summary task. This contains other summary tasks or leaf node tasks.

Container task. This is another name for a summary task.

The correct answer is: It is an internal document, which provides balance information for all accounts for a given period of time.

A trial balance is a preliminary report used by accountants to ensure that all debits and credits match, helping detect posting errors before finalizing financial reports.

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Incorrect answers are:

It is a formal document, used for external reporting. This is a balance sheet, not a trial balance.

It is the company’s profitability calculations for the current period and the year to date. This is the Income statement financial report.

It is the legal entity's sales tax liability for the current period. This is a sales tax report, which can be produced by code, by customer, by vendor, as a list, or by transaction.

The correct answer is: Product dimensions allow you to create product variants from a product master.

For example:

• You may have a Product master called "Boys T-Shirt",

• Product dimensions are include Color (Blue) and Size (Large).

• A product variant could then be: Boys T-Shirt - Blue - Large.

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Incorrect answers are:

Product dimensions allow you to create a product from a product master. Products are standalone items/services. You cannot create them from product masters.

Product dimensions allow you to create product masters from a product variant. No - you create product variants from product masters.

Product dimensions allow you to create product from multiple product variants. Products are standalone items/services. You cannot create them from product masters.

The correct answer is: Running average cost price.

This calculates an average cost price, based on total of prices divided by number of items. It regenerates after each purchase.

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The incorrect answers are:

Weighted average. This is similar to the running average cost price. However, it is weighted towards items which have had more quantities. It is calculated when the inventory period is closed.

Standard cost average. There is no such thing. However, the "Standard cost" is a predicted cost.

First in, first out average. There is no such thing. However, the "First in, first out (FIFO)" matches items which are the first to be produced or acquired against items which are the first to be sold, used or disposed of.

The correct answer is: At the Bank Account level. Two-way matching cannot be set for each Bank Account.

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You can set two-way matching at each of the level shown in each of the incorrect answers.

The correct answer is: Accounts payable.

In this module, you can enter vendor invoices, either manually or electronically. You can then review/approve the invoices, using invoice matching, vendor invoice policies and workflows to automate it.

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The incorrect answers are:

Accounts receivable. You can create customer invoices based on sales orders/packing slips, or standalone invoices. You can get payments by cash, cheques, credit card, electronically, and more.

Cash and bank management. This maintains your bank accounts, together with deposit slips, cheques and other deposits. You can then reconcile bank statements, and print reports from your bank data.

General ledger. This is a register of debits (money going out) and credits (money coming in). You can move money to account(s) and dimension(s) (properties or attributes). You can settle transactions between accounts, and revalue amounts in different currencies. At the end of a period (such as a year), you can close your accounts (reconcile and lock them down) and prepare your accounts for the next year

The correct answers are: Workspaces and Modules.

The Navigation pane is on the left-hand side of the window.

The Search and Action center is in the Navigation bar, which is at the top of the window.

In the below graphic, the Workspaces and Modules are shown in green, and the Search and Action center are shown in red.

The correct answer is: Vendor payments. Vendor payments happen after the matching process is completed. They are not part of the three-way matching process.
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The incorrect answers are used in three-way matching. Invoices are matched with purchase order lines and product receipt lines.

The correct answer is: Open order.

If you only receive part of the order, the Line Status remains unchanged.

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The incorrect answers are:

• Received – this indicates that all the goods have been received, but not invoiced

• Invoiced – this indicates that this Purchase Order has been fully invoiced.

• Partly received - there is no such Line Status.

The correct answer is: It is an invoice which is not related to a sales order.

You can then create a pro forma invoice from a free text invoice.

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The incorrect answers are:

It is an invoice which has a zero amount. Pro forma invoices can have a non-zero amount.

It is a draft invoice which currently does not have a customer. Pro forma invoices must have a customer.

It is an invoice which is automatically generated using a sales order. No - that is a customer invoice, not a free text invoice.