MB7-701 by Microsoft Valid Free Exam Practice Test

Question 1

A user posts a fixed asset (FA) appreciation of $20,000 on fixed asset X.
The value of this appreciation must also be taken into account o the next monthly depreciation calculation.
You need to ensure that the added value of fixed asset X is depreciated over time. You enable Part of Depreciable Basis for the FA posting type Appreciation.
Where is the correct location to set up the depreciable basis?

A. FA G/L journals B. Fixed asset cards C. Fixed assets setup D. Depreciation books

Correct Answer: D

Question 2

Which options can be compared by the Budgets feature in Microsoft Dynamics NAV?

A. Departments, projects, and G/L accounts B. G/L accounts, periods, and global dimensions C. G/L accounts, periods, and analysis views D. Departments, projects, and customer groups

Correct Answer: A

Question 3

How do you adjust the amount of payment discount on an invoice entry in the Customer Ledger Entry table?

A. Enter the new discount amount in the Remaining Pmt. Disc. Possible field. B. Enter the new discount amount in the Original Pmt. Disc. Possible field. C. You cannot adjust the discount amount after posting. D. Reduce the value in the Remaining Amount field, so the difference between the Original Amount and Remaining Amount will be posted to the payment discount account.

Correct Answer: A

Question 4

A company has a large number of part-time employees, each working a different number of hours every week. The payroll expense for these employees must be recorded weekly. You set up a recurring journal.
Which Recurring Method should you use to record the payroll expenses?

A. Variable B. Fixed C. Balance D. Reversing Fixed

Correct Answer: C

Question 5

A company uses dimension values for every posting on ledger accounts for sales turnover.
A sales order invoice is posted. The sales order header includes a valid code for the relevant salesperson.
Which statement is true?

A. The dimension value posting on the sales revenue ledger account cards is set to Code Mandatory for the relevant sales dimension values. B. Dimension set IDs on the sales order lines cannot have the same code as the dimension set ID on the sales order header. C. Dimension values on the sales order lines cannot be taken from the customer card. D. Dimension set IDs on the sales order lines and the dimension set ID on the sales order header cannot be viewed before posting.

Correct Answer: A

Question 6

A company uses Microsoft Dynamics NAV Fixed Assets (FA) to keep track of gains and losses when selling fixed assets.
A fixed asset has a value of $800. You sell the asset for $600.
What steps should you take to post this transaction to the G/L entries and FA entries?

A. Create a sales invoice on a line using the Fixed Asset type with the amount of $800 dollars and a second line using the G/L Account type with the amount of -/- $200. B. Create a sales invoice on a line using theG/LAccount type with the amount of 5600, then dispose of the fixed asset in the FAG/Ljournal for $800. C. Create a sales invoice on a line using the Fixed Asset type with the amount of $600. The difference value (loss) is posted automatically. D. Create a sales invoice on a line using the Fixed Asset type with the amount of $600, and then dispose of the fixed asset in the FA G/L journal for $200.

Correct Answer: C

Question 7

You need to change the description of an item on the Item List page for the RoleTailored client. Which standard keyboard shortcut should you use?

A. CTRL+SHIFT+E B. CTRL+E C. CTRL+O D. CTRL+W

Correct Answer: A

Question 8

You create a new customer.
You need to add posting group information.
Which FastTab do you use to add the posting group information?

A. Payments FastTab B. General FastTab C. Foreign Trade FastTab D. Invoicing FastTab

Correct Answer: D

Microsoft Dynamics NAV 2013 Core Setup and Finance - MB7-701 Exam Practice Test