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Question No : 1
You set up three pay-when-paid (PWP) terms and assign them to the vendors for a project.
For the first PWP term, you set the account code for all vendors (All). For the second PWP term, you set the account code for an individual vendor (Table). For the third PWP term, you set the account code for a group of vendors (Group). What is the order of precedence for assigning the PWP terms when you create a project purchase order?
A. Table, All, Group
B. All, Group, Table
C. Table, Group, All
D. All, Table, Group
Answer: C
Question No : 2 MB6-700 exam
You need to track the project costs in balance accounts until the customer is invoiced.
Which type of project should you use?
A. fixed-price project with completed contract
B. fixed-price project with completed percentage and sales value
C. time and material project with work in process (WIP)
D. internal project with work in process (WIP)
E. time and material projects with accruals
Answer: C
Question No : 3
You set up a new internal project. You need to manually create a hierarchical representation of the activities for the project. Which form should you use?
A. Activities
B. Assign resources
C. Work breakdown structure template
D. Work breakdown structure
Answer: D
Question No : 4
You attach an invoice format to the project contract. Which item is controlled by the invoice format setting?
A. invoice output destination
B. invoice currency
C. invoice summarization
D. invoice orientation
Answer: C
Question No : 5
You configure a timesheet workflow. What is the Assignment function used to define?
A. conditions for approval of the timesheet
B. notifications after approval of a timesheet
C. submitters of the timesheet
D. reviewers of the timesheet
Answer: D
Question No : 6
Which journalizing option is used only for time tracking?
A. No ledger
B. Profit and loss
C. Never ledger
D. Balance
Answer: A
Question No : 7 MB6-700 exam
You need to set up a pay when paid (PWP) term for a project. Which project type should you choose?
A. time and material
B. internal
C. cost
D. fixed-price
Answer: A
Question No : 8
You need to configure worker validation project assignments to ensure that certain projects are available for a specific worker. On which form should you configure this type of validation?
A. project
B. project contract
C. worker
D. project management and accounting parameters
Answer: C
Question No : 9
Which three items are valid project types? (Each correct answer presents part of the solution. Choose three.)
A. Investment
B. Profit and loss
C. Time
D. Time and material
E. Quotation
Answer: A,B,E
Question No : 10
Which two statements about a header project are true? MB6-700 exam (Each correct answer presents a complete solution. Choose two.)
A. Transactions cannot be posted to a header project.
B. A header project is designated by the Project group field.
C. Each level of a project hierarchy can have only one project header.
D. A header project must be created at the top level of a hierarchy.
Answer: A,D
QUESTION 11
You set up project management and accounting. You need to represent the types of costs and revenues
that are defined for all projects in your entire organization.
Which item should you create to organize categories?
A. shared category
B. expense category
C. project category
D. category group
Correct Answer: D
Explanation
Explanation/Reference:
QUESTION 12
You need a quick snapshot view of a project’s progress. Which form should you use?
A. Invoice control
B. Project statements
C. Cash flow
D. Cost control
Correct Answer: B
Explanation
QUESTION 13
Which two items are determined by the cost templates for advanced fixed-price projects? (Each correct
answer presents part of the solution. Choose two.)
A. the amount of hours that can be posted for advanced fixed-price projects
B. the amount of expenses that can be posted for advanced fixed-price projects
C. whether to calculate the degree of completion on the posted amount or quantity
D. the categories included in calculating the degree of completion
Correct Answer: CD
Explanation
Explanation/Reference:
QUESTION 14
You have several transactions that are not going to be invoiced. You need to ensure that these
transactions are still moved to the profit and loss accounts.
Which form should you use?
A. Post costs
B. Hour journal
C. Expense journal
D. Item journal
Correct Answer: A
Explanation
Explanation/Reference:
QUESTION 15
Which two statements about project hierarchies are true? (Each correct answer presents part of the
solution. Choose two.)
A. Only the parent project can be used for invoicing.
B. Subprojects must be configured with the same project type.
C. Subprojects must be configured to represent different project phases.
D. Subprojects can be used to process special accounting requirements.
Correct Answer: AD
Explanation
Explanation/Reference:
QUESTION 16
You set up an effective labor rate for a worker. The hourly cost price is 60 USD. 40 hours are available in
the work week calendar. The worker submits only 30 hours for the week.
What is the effective labor rate that is calculated for this worker?
A. (30*40)/60 = 20
B. (30/40)*60 = 45
C. (60*30)/40 = 45
D. (60*40)/30 = 80
Correct Answer: D
Explanation
Explanation/Reference:
QUESTION 17
Which statement about the effective labor rate (ELR) feature is true?
A. Effective labor rate is not enabled by default for all workers and can be enabled for the workers you
select.
B. Effective labor rate is enabled when a cost price amount and calendar are specified for that worker.
C. Effective labor rate is enabled by default for all workers and can be disabled for the workers you select.
D. Effective labor rate is enabled by default for all workers and cannot be disabled.
Correct Answer: A
Explanation
Explanation/Reference:
QUESTION 18
Which item is used to transfer costs from work in process (WIP) accounts to profit and loss accounts?
A. Post costs form
B. Adjustments form
C. On-account posting
D. Expense journal
Correct Answer: A
Explanation
Explanation/Reference:
QUESTION 19
Which statement for both the cost and the time project types is true?
A. Both allow registering hour transactions.
B. Both allow capitalizing on balance sheet accounts.
C. Both allow registering expense transactions.
D. Both allow posting hour transactions on profit and loss accounts.
Correct Answer: A
Explanation
QUESTION 20
You work with a fixed-price project. To which process do the completed contract and completedpercentage assessment principles relate?
A. posting revenue
B. transferring costs from balance sheet to profit and loss accounts
C. posting costs
D. accumulating costs in balance sheet accounts
Correct Answer: A
Explanation
Explanation/Reference:
QUESTION 21
What is the difference between advanced and simple internal projects?
A. Advanced internal projects can track expense transactions; simple internal projects cannot.
B. Advanced internal projects can use work in process (WIP) to post costs; simple internal projects
cannot.
C. Advanced internal projects can track hour transactions; simple internal projects cannot.
D. Advanced internal projects allow on-account posting; simple internal projects do not.
Correct Answer: B
Explanation
Explanation/Reference:
QUESTION 22
An internal project that includes work in process (WIP) is completed.
You need to ensure that the costs posted to the balance accounts from hour, expense, and item
transactions are moved back to profit and loss accounts.
Which form should you use to move the costs?
A. Ledger updates
B. Ledger posting setup
C. Project groups
D. Post costs
Correct Answer: D
Explanation
Explanation/Reference:
QUESTION 23
Which activity is enabled by configuring the project sort fields?
A. replacing the cost categories
B. substituting for a subproject
C. analyzing project profitability
D. allocating expenses related to the project
Correct Answer: C
Explanation
QUESTION 24
To which funding type can you apply payment retention?
A. On hold
B. Grant
C. Organization
D. Customer
Correct Answer: D
Explanation
QUESTION 25
Which funding source type can appear only once on a project contract?
A. On hold
B. Grant
C. Customer
D. Organization
Correct Answer: A
Explanation
QUESTION 26
You assign resources to a project.
You need to define the scheduling requirements for the project.
Which three actions are scheduling requirements? (Each correct answer presents part of the solution.
Choose three.)
A. Setting up the calendar to use for the workers on the project
B. Specifying the estimated hourly rate for the workers on the project
C. Specifying the type of calendar for the project
D. Setting the start date and end date of the project
E. Specifying the estimated number of worker hours required to complete the project
Correct Answer: ACE
Explanation
Explanation/Reference:
Explanation: Before you can use the resource scheduling feature and assign workers to projects, the
following prerequisites must be met:
* The Project III license code must be enabled.
* Project parameters must be set up to define the minimum thresholds for how closely a worker’s skills and
availability should match the requirements for a project or activity. This ust be done before the worker can
be included in search results.
* (A) A worker must be assigned a calendar so that the worker’s weekly capacity in hours be specified.
To assign a calendar to a worker, use the following procedure.
1. Click Human resources > Common > Workers > Workers.
2. Select a worker, and then, on the Action Pane, in the Maintain group, click Edit.
3. In the Workerform, click the Employment link, and then, in the Calendar field, select a calendar.
* (E) Before scheduling can occur, the scheduling calendar and the total work effort (in hours) for the
project or activity must be specified.* The worker’s education, skills, certifications, project experience, and other attributes must be specified.
Reference: Microsoft Dynamics AX 2012 R2 resource scheduling for projects, White Paper, Resource
scheduling prerequisites
QUESTION 27
You transfer a project quotation with a work breakdown structure to a new project.
Which three project data sets can be created during the transfer process? (Each correct answer presents
part of the solution. Choose three.)
A. Invoice proposal
B. Project budget
C. Forecast
D. Item requirements
E. Billing rules
Correct Answer: BCD
Explanation
Explanation/Reference:
Explanation: Transfer the Confirmed project quotation into an actual project(New or existing) and then run
a wizard to create project WBS, forecasts, project budgets etc. automatically right from the quotation.
Note:
* The work breakdown structure of dynamics AX 2012 is a hierarchical representation of the activities and
child activities in a project and helps the project managers to do the following.
Define the overall work scope of the projects.
Each descending level of the hierarchy represents increasingly detailed information about the project work.
It helps identifying and creating milestones in the project.
It also helps managers to soft/hard commit resources to the activities/tasks.
Project managers can create WBS templates and use them any time they want to plan a new project. They
can also create the WBS directly on a project.
QUESTION 28
You create a project contract.
You need to include indirect costs.
Which billing rule should you select?
A. Progress
B. Unit of delivery
C. Time and material
D. Milestone
Correct Answer: C
Explanation
QUESTION 29
You create an internal project.
You need to enable project budgeting for your project.
Which three actions are mandatory to enable budgeting for the project? (Each correct answer presents
part of the solution. Choose three.)
A. Selecting the budget overrun default
B. Setting the budget planning configurationC. Enabling budget tracking
D. Setting the budget control configuration
E. Setting the transaction type
Correct Answer: BDE
Explanation
Explanation/Reference:
Explanation:
DE: Budget control can be setup on the transactions that you desire to put in budget controls on. The
Budget control configuration allows you to select through check boxes which transactions types you want
to enable budget control on.
QUESTION 30
Why would you create an estimate?
A. To set a project’s budget
B. To create an hours forecast
C. To define the forecast model
D. To monitor a project’s progress
Correct Answer: D
Explanation
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