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Vendor: Microsoft
Exam Code: MB3-701
Exam Name: Microsoft Dynamics GP 2013 Financials

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QUESTION 11
You need to add a new calculated report field to a Microsoft Word template.
Which tool should you use to create the report field?

A.    Report Writer
B.    Microsoft Word
C.    Report Builder
D.    Business Intelligence Development Studio

Answer: A

QUESTION 12
A company has a monthly subscription of Microsoft Dynamics GP 2013.
The subscription includes 10 registered users.
Which is true for the user setup?

A.    You can set up 10 active users and 5 inactive users because the maximum number of registered users only applies to the active users.
B.    You can set up users of any type as long as the user count does not exceed 10 because the maximum number of registered users is 10.
C.    You can set up 7 active users and 3 limited users because the maximum number of registered users applies to both active and limited users.
D.    You can set up 30 active users and 10 inactive users because Microsoft Dynamics GP allows concurrent users.

Answer: A

QUESTION 13
You need to print an edit list prior to posting a General Ledger transaction.
Which method of posting should you use?

A.    Series Posting
B.    Batch Posting
C.    Master Posting
D.    Transaction Posting

Answer: B

QUESTION 14
On what do you base a partial retirement for an asset? (Each correct answer presents part of the solution. Choose two.)

A.    cost
B.    quantity
C.    cash proceeds
D.    year to date depreciation
E.    remaining life

Answer: AB
Explanation:
http://www.goerpcloud.com/dynamics-gp-fixed-assets-retirement/ ¹ (video)

QUESTION 15
You process the year end close for the Fixed Assets corporate book.
Which two statements are true? (Each correct answer presents a complete solution.
Choose two.)

A.    You must manually update the fiscal year for your corporate book to the next year.
B.    The Cost Basis amount is copied to the Begin Cost field for each asset in the book.
C.    A year end General Ledger entry is created automatically for each asset in the book.
D.    The fiscal year for your corporate book is set automatically to the next year.

Answer: BD
Explanation:
http://support.microsoft.com/kb/865653 ²

QUESTION 16
A customer makes a large purchase that they will repay monthly.
You must set up the repayment to calculate 10% compounded interest automatically.
What should you do?

A.    Set up a recurring receivables batch.
B.    Set up a Quick Journal entry.
C.    Set up a scheduled payment.
D.    Create a transaction each time that a payment is made.

Answer: C

QUESTION 17
You receive a cash payment from a customer before a sales invoice is produced
What should you do with the payment?

A.    Keep the cash until you create an invoice, but do not create a cash receipt.
B.    Create a cash receipt and apply to open documents.
C.    Return the cash to the customer until you create an invoice, but do not create a cash receipt.
D.    Create a cash receipt, but leave the cash receipt as unapplied until you create the invoice.

Answer: D

QUESTION 18
You need to perform period-end procedures for Receivable Management.
Which routine should you complete first?

A.    Run the aging process.
B.    Assess finance charges.
C.    Run paid transaction removal.
D.    Print customer statements.

Answer: A

QUESTION 19
Which field is required when you create a new customer record?

A.    class ID
B.    Customer ID
C.    Payment Terms
D.    Accounts Receivable account

Answer: B

QUESTION 20
Which is a requirement when you delete a customer record?

A.    The customer record has posted transactions.
B.    The customer record must be archived.
C.    The customer record must be on hold.
D.    The customer record has no historical transactions.

Answer: D

http://www.braindump2go.com/mb3-701.html

1. http://www.goerpcloud.com/dynamics-gp-fixed-assets -retirement/
2. http://support.microsoft.com/kb/865653