exam questions

Exam MB-310 All Questions

View all questions & answers for the MB-310 exam

Exam MB-310 topic 23 question 1 discussion

Actual exam question from Microsoft's MB-310
Question #: 1
Topic #: 23
[All MB-310 Questions]

You need to configure the system to meet the fiscal year requirements.
What should you do?

  • A. Add an additional fiscal year.
  • B. Divide the twelfth period.
  • C. Add an additional period to ledger calendars.
  • D. Create a closing period.
  • E. Create a new fiscal calendar.
Show Suggested Answer Hide Answer
Suggested Answer: E 🗳️
Create fiscal calendars, fiscal years, and periods
You can create and delete fiscal calendars, fiscal years, and periods on the Fiscal calendars page. You can also divide existing periods and create closing periods that can be used to close a fiscal year.
A closing period is used to separate general ledger transactions that are generated when a fiscal year is closed. When the closing transactions are in one fiscal period, it is easier to create financial statements that either include or exclude different types of closing entries. If a fiscal year is divided into 12 fiscal periods, the closing period is usually the 13th period.
Note: Configuring calendars for the ledger
Another component of the ledger is the fiscal calendar. A fiscal calendar must be selected for each legal entity. You can use the same fiscal calendar in more than one legal entity. When you select a fiscal calendar for the ledger, a copy is made. This copy is referred to as the ledger calendar. The ledger calendar lets you select the status of the periods and the modules in each period.
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/fiscal-calendars-fiscal-years-periods

Comments

Chosen Answer:
This is a voting comment (?). It is better to Upvote an existing comment if you don't have anything to add.
Switch to a voting comment New
Peachtree2022
Highly Voted 7 months, 2 weeks ago
Should be D
upvoted 7 times
...
Community vote distribution
A (35%)
C (25%)
B (20%)
Other
Most Voted
A voting comment increases the vote count for the chosen answer by one.

Upvoting a comment with a selected answer will also increase the vote count towards that answer by one. So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.

SaveCancel
Loading ...
exam
Someone Bought Contributor Access for:
SY0-701
London, 1 minute ago