MB3-701 Exam Questions

What is the purpose of the Fixed Assets calendar?

In the Asset Book window, what is the purpose of the Place in Service Date?

Your coworker creates an asset group. You want to use the asset group to process a mass retirement. You are unable access the asset group. Why is the asset group unavailable?

Which event prevents you from editing the Last Reconciled Balance for a checkbook?

Which two Bank Reconciliation transactions update the General Ledger cash account? (Each correct answer presents a complete solution. Choose two.)

The Accounting Manager has set up users, security tasks and security roles. How are these used in Microsoft Dynamics GP?

Which date is used as the posting date in General Ledger if a batch of transactions is posted in summary from a subsidiary ledger in Microsoft Dynamics GP?

Which of these statements are true about users that are set up in Microsoft Dynamics GP? Choose the 2 that apply.

Which two item types can you add to Series Checklist? (Each correct answer presents a complete solution. Choose two.)

You have a vendor list that contains 12,000 records. You generate the list by using SmartList. How many records are returned by default?

You need to add a new calculated report field to a Microsoft Word template. Which tool should you use to create the report field?

A company has a monthly subscription of Microsoft Dynamics GP 2013. The subscription includes 10 registered users. Which is true for the user setup?

You need to print an edit list prior to posting a General Ledger transaction. Which method of posting should you use?

On what do you base a partial retirement for an asset? (Each correct answer presents part of the solution. Choose two.)

You process the year end close for the Fixed Assets corporate book. Which two statements are true? (Each correct answer presents a complete solution. Choose two.)

A customer makes a large purchase that they will repay monthly. You must set up the repayment to calculate 10% compounded interest automatically. What should you do?

You receive a cash payment from a customer before a sales invoice is produced What should you do with the payment?

You need to perform period-end procedures for Receivable Management. Which routine should you complete first?

Which field is required when you create a new customer record?

Which is a requirement when you delete a customer record?

You enter and post an intercompany payables transaction. Which type of transaction is created in the destination company?

You need to reprint a batch of unposted vendor checks. Which window should you use?

You need to void a Payables Management invoice. Which two are requirements to void the invoice? (Each correct answer presents part of the solution. Choose two.)

You print all your financial statements for a specific fiscal period. You need to prevent users from posting any Payables Management transactions to that fiscal period. What should...

By default, how many aging buckets appear on the Payables Management Aged Trial Balance report?

You enter the Next Number in the Bank Reconciliation Setup window. Which two types of transactions use the Next Number? (Each correct answer presents a complete solution. Choose tw...

You do bank reconciliation. You discover that a vendor check that was printed, posted, and fully applied was returned. The check was returned because of an incorrect vendor check a...

A check clears for an amount that differs from the posted transaction amount in the Bank Reconciliation module. You record the difference in the Cleared Amount Entry window. What i...

You need to print the Bank Transaction Posting Journal for all transactions that you post in Bank Transaction Entry. When does the Bank Transaction Posting Journal print?

You need to save Report Writer reports to multiple file types. Which three items are valid file types for Report Writer reports? (Each correct answer presents a complete solution....

Which of the two types of activities can you monitor by using Activity Tracking? (Each correct answer presents a complete solution. Choose two.)

Which statement is true for user classes?

The Payables Transaction Entry window is open. You need to add the window to the Navigation page as a shortcut. What should you do?

What is the maximum number of periods that can be defined for a fiscal year?

Which condition must be met in order to void a receivables cash receipt?

Which is true when you create a refund check?

What is the effect of placing a customer record on hold?

Which two processes can you perform in Paid Sales Transaction Removal? (Each correct answer presents part of the solution, Choose two.)

You need finance charges to appear on customer statements. What should you do? (Each correct answer presents part of the solution. Choose two.)

You set up a National Account. Which two are true? (Each correct answer presents part of the solution. Choose two.)

You enter a transaction in the Receivables module. You need to apply the entry to a Receivables document that was posted previously. Which two document types should you use? (Each...

Which setup is required to create salesperson records?

You process depreciation for a single asset by using the Depreciate Asset window. What is the maximum number of books that you can select at one time?

You process the depreciation routine for the corporate book. You review the General Ledger account balances. You do not find any record of the financial detailed transactions that...

What is the purpose of the General Ledger reconcile utility? (Each correct answer presents a complete solution. Choose two.)

Which two modules can you use to create intercompany transactions? (Each correct answer presents a complete solution. Choose two.)

Which two transaction types are available in the Transaction Entry window in the General Ledger? (Each correct answer presents part of the solution. Choose two.)

You create a new budget by using the Budget Wizard for Excel. The new budget must include a 5% increase over the historical 2010 budget. Which budget calculation method should you...

You need to create a new account to record the number of employees that are in a department. Which type of account records the number of employees?

You notice a variance between the Inventory sub-ledger and the corresponding General Ledger account. Which function should you use to identify the variance?