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

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QUESTION 31
Which of the two types of activities can you monitor by using Activity Tracking? (Each correct answer presents a complete solution. Choose two.)

A.    File tracking
B.    Posting tracking
C.    SmartList tracking
D.    Field tracking

Answer: AB
Explanation:
http://onzasolutions.com/blog/using-activity-tracking-in-gp#.UgDXR0HvvUk ¹

QUESTION 32
Which statement is true for user classes?

A.    Are no longer used.
B.    Assign users to Organizational Structures.
C.    Provide the default information that displays on the home page.
D.    Simplify user setup by providing the default task and role information.

Answer: C

QUESTION 33
The Payables Transaction Entry window is open.
You need to add the window to the Navigation page as a shortcut.
What should you do?

A.    Drag and drop the window to the shortcut area on the Navigation Pane.
B.    Right-click in the window and then select Add to Shortcuts.
C.    Right-click in the shortcut area on your Navigation Pane and then select Add Current Window.
D.    Click File on the window menu bar and then select Add to Shortcuts.

Answer: D

QUESTION 34
What is the maximum number of periods that can be defined for a fiscal year?

A.    12
B.    13
C.    52
D.    367

Answer: D

QUESTION 35
Which condition must be met in order to void a receivables cash receipt?

A.    The cash receipt must be in the open file.
B.    The cash receipt must be fully applied to one or more invoices.
C.    The cash receipt must not be posted.
D.    The cash receipt must be on hold-

Answer: A

QUESTION 36
Which is true when you create a refund check?

A.    You must set up a customer/vendor relationship.
B.    You must place the Sales document to be refunded on hold.
C.    You can only create a refund check to the parent company if the customer is part of a National Account.
D.    You must set up customer Electronic Funds Transfer (EFT) information in the Customer Card.

Answer: A

QUESTION 37
What is the effect of placing a customer record on hold?

A.    The customer record is inactivated automatically.
B.    You can enter only customer payments for that customer.
C.    A warning message appears when you enter a new sales transaction.
D.    You cannot post new transactions for that customer.

Answer: C

QUESTION 38
Which two processes can you perform in Paid Sales Transaction Removal? (Each correct answer presents part of the solution, Choose two.)

A.    Delete inactive customers.
B.    Transfer sales commissions to employees.
C.    Consolidate balance forward accounts.
D.    Transfer fully applied transactions to history.

Answer: CD
Explanation:
http://www.dynamicsgpinsights.com/2012/07/03/receivables-management-period-end-closing-in-dynamics-gp/ ^{3 2}

QUESTION 39
You need finance charges to appear on customer statements.
What should you do? (Each correct answer presents part of the solution. Choose two.)

A.    Run the receivables aging process.
B.    Post the receivables finance charge batch.
C.    Reconcile the outstanding document amounts.
D.    Run the assess finance charge process.

Answer: BD
Explanation:
http://www.dynamicsgpinsights.com/2012/07/03/receivables-management-period-end-closing-in-dynamics-gp/ ^{3 2}

QUESTION 40
You set up a National Account.
Which two are true? (Each correct answer presents part of the solution. Choose two.)

A.    Individual sales summary and demographic information about both the parent customer and the associated child customers are retained in Dynamics tables.
B.    You can combine all sales transaction activity for both the parent customer and associated child customers into one statement.
C.    You can enter a cash receipt for the child customer and apply the receipt to the parent customer.
D.    If you delete the parent customer, the associated child customers are deleted also.

Answer: CD

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

1. http://onzasolutions.com/blog/using-activity-track ing-in-gp#.UgDXR0HvvUk
2. http://www.dynamicsgpinsights.com/2012/07/03/recei vables-management-period-end-closing-in-dynamics-g p/
3. http://www.dynamicsgpinsights.com/2012/07/03/recei vables-management-period-end-closing-in-dynamics-g p/