Exam MB-330 topic 4 question 45 discussion

Actual exam question from Microsoft's MB-330

Question #: 45
Topic #: 4

HOTSPOT -
A company sells licensed products.
You must pay the licensor royalties for the items each month.
You need to set up a royalty agreement to pay the licensor.
How should you set up the royalty agreement? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
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Suggested Answer:

Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/royalty-contract

by Sienna at Nov. 26, 2020, 8:53 a.m.

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abdul_hadi

Highly Voted 2 years, 5 months ago

in my opinion on the third question right answer is the first one which is "post the royalty accrual journal and create and post the vendor invoice" Reference: https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/royalty-contract

upvoted 29 times

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Sam_Onyx

Most Recent 8 months, 2 weeks ago

It should be: "post the royalty accrual journal and create and post the vendor invoice" for third option. Reference:https://docs.microsoft.com/en-us/learn/modules/configure-use-agreements-dyn365-supply-chain-mgmt/7-royalty

upvoted 3 times

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Niqs

1 year, 2 months ago

For 3rd question, answer should be: post the royalty accrual journal and create and post the vendor invoice. Since Accounts payable journals can be either an invoice or vendor payment journal.

upvoted 3 times

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Karl127

1 year, 3 months ago

First option to third answer should be correct: The following events occur, and the claim's status is changed to Completed: A Royalty accrual journal posting reverses the previous interim amounts on the accrual payable and expense amounts. A vendor invoice for the royalty amount is created and posted. As a result, the vendor's payable account is credited, and the royalty fees account is debited.

upvoted 1 times

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Sam_spella

2 years, 4 months ago

That is correct @abdul_hadi based on this statement: A vendor invoice for the royalty amount is created and posted

upvoted 4 times

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Sienna

2 years, 5 months ago

To move the claims to the regular A/P process, the A/P clerk must complete the royalty claim. On the Royalty claims page, on the Action Pane, select Process. The following events occur, and the claim's status is changed to Completed: A Royalty accrual journal posting reverses the previous interim amounts on the accrual payable and expense amounts. A vendor invoice for the royalty amount is created and posted. As a result, the vendor's payable account is credited, and the royalty fees account is debited. The last question should be vendor invoice posted. Isn't it?