pass4sure microsoft MB4-535 v2.83

SL 7.0 Financials : MB4-535 Exam

Product DescriptionExam Number/Code: MB4-535
Exam Name: SL 7.0 Financials

“SL 7.0 Financials”, also known as MB4-535 exam, is a Microsoft certification. With the complete collection of questions and answers, Pass4sure has assembled to take you through 100 Q&As to your MB4-535 Exam preparation. In the MB4-535 exam resources, you will cover every field and category in Microsoft Business Solutions helping to ready you for your successful Microsoft Certification.
Exam topics covered
The following list includes the topic areas covered on this exam. The percentage indicates the portion of the exam that addresses a particular skill.

• General Ledger (24 percent)
Basic Setups for General Ledger
Setting Up the Chart of Accounts
Budgeting and Financial Statements
Entering and Posting Transactions and Batches
Reports and Inquiries
History and Reconcile Function
Period and Year-End Procedures and Processes

• Accounts Payable (30 percent)
Basic Setups for Accounts Payable
Setting Up Vendors and Vendor Classes
Entering and Posting Transactions and Batches
Voids, Holds, and Applying Transactions
Manual and Computer Check Processing
Reports and Inquiries
Period and Year-End Procedures and Processes

• Accounts Receivable (26 percent)
Basic Setups for Accounts Receivable
Setting Up Sales Territories and Salespeople
Setting Up Customers and Customer Classes
Entering and Posting Transactions and Batches
Applying and Editing Transactions
Reports and Inquiries
Period and Year-End Procedures and Processes

• Cash Manager (20 percent)
Basic Setups for Cash Manager
Setting Up Cash Accounts
Transactions and Deposits
Interaction with Other Modules
Bank Reconciliation Process
Reports and Inquiries

Audience profile
Individuals who want to obtain a certification on Microsoft Dynamics SL 7.0 Financials should take this exam.

Credit toward certification
When you pass this exam, you earn credit toward the following certifications:

• Microsoft Certified Business Management Solutions Specialist
• Microsoft Certified Business Management Solutions Professional – Applications for Microsoft Dynamics SL
• Microsoft Certified Business Management Solutions Professional – Installation and Configuration for Microsoft Dynamics SL

Preparation tools and resources
In addition to your hands-on experience working with the product, we highly recommend that you use the following tools and training to help you prepare for this exam.

E-Learning courses for this exam

• 8542: Accounts Payable in Microsoft Dynamics SL 6.5
• 8543: Accounts Receivable in Microsoft Dynamics SL 6.5
• 8545: Cash Manager in Microsoft Dynamics SL 6.5
• 8547: General Ledger in Microsoft Dynamics SL 6.5

Note We strongly recommend that you use training materials in conjunction with the corresponding E-Learning to prepare for a certification exam.

Training materials for this exam

Training materials for Microsoft Dynamics can be ordered through your local partner.

• 8830: General Ledger in Microsoft Dynamics SL 7.0

• 8829: Cash Manager in Microsoft Dynamics SL 7.0

• 8827: Accounts Receivable in Microsoft Dynamics SL 7.0

• 8826: Accounts Payable in Microsoft Dynamics SL 7.0

Classroom training for this exam

• 8830: General Ledger in Microsoft Dynamics SL 7.0
• 8829: Cash Manager in Microsoft Dynamics SL 7.0
• 8827: Accounts Receivable in Microsoft Dynamics SL 7.0
• 8826: Accounts Payable in Microsoft Dynamics SL 7.0

Supplemental learning resources

• General Ledger, Accounts Payable, Accounts Receivable, and Cash Manager printable manuals and tutorials found in online Help in the Microsoft Dynamics SL product.

Additional skills recommended

• General working knowledge of the Microsoft Windows operating system, and basic accounting knowledge.

Microsoft online resources

• MSDN: The Microsoft Developer Network (MSDN) is a reference for developers that features code samples, technical articles, newsgroups, chats, and more.

• Training and certification newsgroups: There is a newsgroup for every Microsoft certification. By participating in the ongoing dialogue, you take advantage of a unique opportunity to exchange ideas with and ask questions of others, including more than 750 Microsoft Most Valuable Professionals (MVPs) worldwide.

Skills being measured
This certification exam measures your ability to do the following:

• Understand and articulate how to set up and use the Microsoft Dynamics SL Financial modules effectively, and use the terms used in the application to adequately convey solutions to other users.

Exam specifics
Time requirements and questions

• 90 minutes to complete the exam

• 100 questions, with a passing rate of 80 percent

• Multiple choice and multiple answer questions

Registration

• Register now (Prometric.com)

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Question: 1
What occurs in the system when General Ledger is closed for a period and the Delete Detail box
is checked? Choose the 2 that apply.
A. The Period to Post field defaults to the next period in the Journal Transaction screen.
B. A transaction is created to post the difference between income and expense accounts to the
Net Income account.
C. Detail is deleted based on GL Setup retention settings.
D. The period being closed is flagged as “Closed” and no additional batches may be entered for
that period.
Answer: A, C
Question: 2
Which Allocation Method is used to allocate office supplies posted to an administrative account to
each department based on the amount of office supply expense in each departmental
subaccount?
A. Actual Period-to-Date
B. Ledger-Period-to-Date
C. Percent
D. Unit Ratio
Answer: A
Question: 3
Which of the following functions would save data entry time if a user inputs a similar journal entry
each month?
A. Manual or Recurring batch
B. Consolidation batch
C. Allocation Group
D. Adjustment batch
Answer: A
Question: 4
General Ledger transaction and account history detail is being retained for one year. General
Ledger was closed for the year in period 12-2005 and the Delete Detail option was checked.
Which of the following functions may still be performed? Choose the 3 that apply.
A. Print a Trial Balance Report for period 01-2005.
B. Inquire on account balances for period 06-2005.
C. Enter a batch to post to period 12-2005.
D. Enter a batch to post to period 12-2003.
Answer: A, B, C
Question: 5
What determines the fiscal period for posting a transaction?
A. Current fiscal period value from the GL Setup screen
B. Transaction Date
C. Current business date
D. Period to Post in the data entry screen
Exam Name: SL 7.0 Financials
Exam Type: Microsoft
Exam Code: MB4-535 Total Questions: 100
Page 2 of 21
Answer: D
Question: 6
Which of the following functions can be accomplished in the General Ledger Closing screen?
Choose the 3 that apply.
A. Close particular modules or all modules for the Period.
B. Close particular modules or all modules for the Year.
C. Delete detail for one or more modules.
D. Re-open a prior period so additional transactions can be entered.
Answer: A, B, C
Question: 7
The option “Edit only in Init Mode” is checked in GL Setup. How do you edit a General Ledger
batch that is “Released” but not “Posted”?
A. The “Released” batch cannot be edited.
B. Any batch is always available for editing.
C. Use Initialize Mode to edit the batch.
D. Change the status to “Unreleased” and edit the batch.
Answer: C
Question: 8
How do you change the Default Ledger ID specified in the GL Setup screen?
A. Use Initialize Mode
B. The field can be changed at any time.
C. Once set, this field cannot be changed.
D. Use Customization Manager
Answer: C
Question: 9
In Flexkey Definition, the “Validate” option for each segment is not checked and the “Valid
Combos Required” option is not checked. Which will occur during maintenance and data entry?
Choose the 2 that apply.
A. There will be limited account/subaccount combinations available for data entry.
B. When setting up new subaccounts, any value may be entered for any segment.
C. It will not be necessary to enter a subaccount during data entry.
D. All subaccounts entered during data entry will be accepted and automatically created in
Subaccount Maintenance.
Answer: B, D
Question: 10
A batch was posted to period 03-2007 and should have been posted to period 02-2007. Which
steps are required to correct the situation? Choose the 2 that apply.
A. Enter a batch with the same debits and credits as the original and post it to period 03-2007.
B. Edit the Period to Post on the original batch and run the Post Transactions process again.
C. Enter a batch with the opposite debits and credits and post it to period 03-2007.
Exam Name: SL 7.0 Financials
Exam Type: Microsoft
Exam Code: MB4-535 Total Questions: 100
Page 3 of 21
D. Enter a batch with the same debits and credits as the original and post it to period 02-2007.
Answer: C, D
Question: 11
How many ledgers can be affected by a single Journal Transactions batch?
A. One
B. One ledger per transaction line
C. One ledger per transaction line, as long as debits equal credits for each ledger in the batch
D. Unlimited
Answer: A
Question: 12
Which batch status values will post during the Post Transactions process?
A. Unposted
B. Hold
C. Balanced
D. Posted
Answer: A
Question: 13
Which “Account Types” are recognized by Microsoft Dynamics SL?
A. Asset, Liability, Revenue only
B. Asset, Liability, Income, Expense
C. Asset, Payable, Receivable, Expense
D. Any account type can be assigned
Answer: B
Question: 14
Which fiscal periods can be entered as the Period to Post in the Journal transactions screen?
Choose the 3 that apply.
A. Any Future Period
B. Any period in the current fiscal year
C. Any prior period in any year.
D. Any prior period as far back as the General Ledger history retention settings.
Answer: A, B, D
Question: 15
In which periods will transactions update account balances when the Post Transactions process
is run? Choose the 2 that apply.
A. Current period
B. Future periods
C. Prior periods
D. Only periods that have not had transactions posted yet.
Answer: A, C
Exam Name: SL 7.0 Financials
Exam Type: Microsoft
Exam Code: MB4-535 Total Questions: 100
Page 4 of 21
Question: 16
Which ledger type is used to track the number of employees associated with each payroll
expense account?
A. Budget
B. Statistical
C. Actual
D. Reporting Currency
Answer: B
Question: 17
A company wishes to segment their subaccount as follows: 1. Company Segment, 2. Location, 3.
Department, 4. Event, 5. Region, 6. Project, 7. Sales Type. How is this accomplished?
A. Define the Subaccount as seven Segments in Flexkey Definition.
B. Recommend the company not use Solomon as the subaccount does not accommodate this
scenario.
C. Recommend the client use three segments as seven is just too many.
D. Define one of the segments as part of the natural account and create a subaccount with six
segments.
Answer: A
Question: 18
When is the “Adjustment” batch type used?
A. Correct a batch of transactions entered in error
B. Link a corrected batch to an original batch
C. Enter statistical transactions
D. Make a one-sided journal entry
Answer: D
Question: 19
Which scenarios would require a new Budget distribution with assigned percentages? Choose the
2 that apply.
A. Seasonal variations for employee expenses.
B. Equally distribute expenses for office supplies.
C. Monthly variation for utilities.
D. Distribute an expense based on the actual balances for the prior year.
Answer: A, C
Question: 20
Which ledger do transactions from Accounts Payable update?
A. Any Actual type of ledger
B. Any Statistical type of ledger
C. Only the ledger in the “Default Ledger ID” field in the GL setup screen
D. Any Budget Ledger
Answer: C
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