Exam MB-310 topic 2 question 40 discussion

Actual exam question from Microsoft's MB-310

Question #: 40
Topic #: 2

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A company uses Dynamics 365 Finance.

The company has prepaid insurance expenses at the beginning of the calendar year that cover the entire year. The company must expense the prepaid insurance automatically and equally during a month-end process.

You need to configure the accrual scheme.

How should you configure the accrual scheme? To answer, select the appropriate options in the answer area.

NOTE: Each correct answer is worth one point.

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Suggested Answer:

by python123 at Dec. 21, 2023, 8:49 p.m.

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python123

Highly Voted 11 months, 3 weeks ago

Debit: Insurance expense account - increase the expense Credit: Prepaid insurance account - decrease the asset account Accrual basis : Calendar Post in week, month, or quarter: by end of every month

upvoted 6 times

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achokler

Most Recent 2 weeks, 4 days ago

The answer is wrong. Debit expense, credit prepai,d calendar at the end of the month

upvoted 1 times

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globeearth

1 month, 1 week ago

1 (Debit): B. Insurance expense account 2 (Credit): A. Prepaid insurance account 3 (Accrual basis): A. Calendar 4 (Post in week, month, or quarter): C. End accrual scheme’s Debit field is for the expense account(PL Account, insurance) in the monthly entries, The Prepaid insurance account(Asset account) is correctly used as the Credit account to reduce the asset.

upvoted 1 times

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Warlock1

8 months ago

Debit - Insurance expense account Credit - Prepaid insurance account

upvoted 1 times

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Flo2021

9 months, 3 weeks ago

Debit: Prepaid insurance account (will replace the expense account ) Credit: either of the two

upvoted 2 times

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