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Microsoft MB7-701 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Manage Finance Essentials | 24% | - Process accounts receivable and payable - Work with chart of accounts and G/L entries - Use journals, batches, and posting routines - Manage VAT, currencies, and exchange rates |
| Set Up an Application | 21% | - Set up number series and posting groups - Configure company information and fiscal periods - Define dimensions and dimension sets - Configure general ledger setup |
| Set Up the Microsoft Dynamics NAV Environment | 21% | - Implement Rapid Start Services - Personalize and customize the interface - Configure basic system settings - Manage users, permissions, and security |
| Configure Fixed Assets | 14% | - Manage acquisitions, disposals, and transfers - Set up fixed asset cards and depreciation books - Configure insurance and reporting - Process depreciation and maintenance |
| Manage Advanced Finance | 20% | - Create account schedules and financial reports - Set up and use cost accounting - Configure cash flow management - Perform closing procedures and consolidations |
Microsoft Dynamics NAV 2013 Core Setup and Finance Sample Questions:
Question 1
How do you prevent users from posting transactions into a prior accounting period?
A. Populate the Allow Posting To field on the General Ledger Setup window.
B. Populate the Allow Posting From field on the General Ledger Setup window.
C. Check the Closed field in the relevant accounting period record.
D. Check the Date Locked field in the relevant accounting period record.
Question 2
When processing purchase invoices, employees at a company enter the following information: order number, invoice number, vendor number, vendor order number, vendor invoice number, and item numbers.
Which of these numbers can be made mandatory by using the Ext. Doc. No. Mandatory check box on the Purchases & Payables Setup window?
A. Vendor number
B. Vendor order number
C. Vendor invoice number
D. Invoice document number
Question 3
You need to zoom in on the Item List page in the RoleTailored client so that you can view all available fields and their values at the same time.
What should you do?
A. Right-click anywhere on the page and select Zoom
B. Expand the Table Fields FastTab on the About This Page window
C. Press SHIFT+CTRL+Z
D. Press CTRL+Z
Question 4
What effect does the Additional Reporting Currency field in the General Ledger Setup window have when running the Close Income Statement batch job?
A. The closing income general journal will be created and then posted automatically.
B. The Close Income Statement batch job is prevented from running if the Additional Reporting Currency field is populated.
C. The closing income general journal will be created in the currency specified in the Additional Reporting Currency field.
D. It has no effect.
Question 5
Which statement about the value added tax (VAT) calculation type reverse charge VAT is true?
A. This option creates two G/L entries with the VAT amount that balance to U and two VAT entries.
B. This option is used only by Sales & Receivables and creates two VAT entries with the VAT amount that balance to 0.
C. This option creates two G/L entries with the VAT amount that balance to 0 and one VAT entry.
D. This option is used only by Purchases & Payables transactions and creates two VAT entries with the VAT amount that balance to 0.
Solutions:
| Question 1 Answer: B | Question 2 Answer: C | Question 3 Answer: B | Question 4 Answer: A | Question 5 Answer: C |

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