Microsoft Dynamics AX 2012 R2 Project - MB6-700 Exam Practice Test

Question 1

Which three statements about on-account invoices are true? (Each correct answer presents part of the solution. Choose three.)

A. On-account invoices can specify offset transactions when used for fixed-price projects.

B. On-account invoices must specify a project date.

C. On-account invoices can be used for both fixed-price and time and material projects.

D. On-account invoices can be created by using an invoice proposal.

E. On-account invoices can only be used for external project types.

Correct Answer: B,C,D

Question 2

You enter and post a vendor invoice. You do not know to which project to allocate the expenses.
You need to ensure that the vendor invoice will be posted with basic information and transferred to an invoice pool for approval.
Which method of managing incoming invoices should you use?

A. Invoice approval journal

B. Invoice register

C. Invoice pool excluding posting

D. Invoice journal

Correct Answer: B

Question 3

You create an invoice proposal and use the Manage invoice form to manage the presentment of the invoice.
Which two steps are required to group transactions with a subtotal on the invoice? (Each correct answer presents part of the solution. Choose two.)

A. Select the transactions to be included.

B. Select the user-defined invoice format.

C. Define the type of transactions to be included.

D. Enter text for the invoice header and footer.

E. Create an invoice line summary.

Correct Answer: A,E

Question 4

Which statement about the customer advance feature is true?

A. The customer advance amount can be defined as a percentage of an existing invoice amount.

B. The customer advance is created by using the payment journal.

C. The customer advance can be used to offset billable charges by using the invoice proposal process.

D. The customer advance cannot be created once transactions have been posted to the project.

Correct Answer: C

Question 5

You have a project with multiple funding sources.
You need to set up the allocation of funds in the project contract.
How many funding sources can you select for rounding off the differences?

A. Only the funding source with the highest or equal fund allocation percentage

B. Only the funding source with the lowest fund allocation percentage

C. One funding source for rounding off the differences is automatically selected and cannot be changed

D. All funding sources on the project contract

Correct Answer: A

Question 6

Which item is used to transfer costs from work in process (WIP) accounts to profit and loss accounts?

A. Adjustments form

B. Expense journal

C. On-account posting

D. Post costs form

Correct Answer: D

Question 7

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. Time and material project with work in process (WIP)

C. Time and material projects with accruals

D. Internal project with work in process (WIP)

E. Fixed-price project with completed percentage and sales value

Correct Answer: B

Question 8

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 expenses that can be posted for advanced fixed-price projects

B. The categories included in calculating the degree of completion

C. The amount of hours that can be posted for advanced fixed-price projects

D. Whether to calculate the degree of completion on the posted amount or quantity

Correct Answer: B,D

Microsoft Dynamics AX 2012 R2 Project - MB6-700 Exam Practice Test

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