pass4sure microsoft MB7-255 v2.83

Navision 4.0 Costing : MB7-255 Exam

Exam Number/Code: MB7-255
Exam Name: Navision 4.0 Costing
VUE Code: NAV 40-255
Questions Type: Multiple choice,
Real Exam Question Numbers: 50
Passing Scores: 70%
Exam Language(s): English

“Navision 4.0 Costing”, also known as MB7-255 exam, is a Microsoft certification.
Preparing for the MB7-255 exam? Searching MB7-255 Test Questions, MB7-255 Practice Exam, MB7-255 Dumps?

With the complete collection of questions and answers, Pass4sure has assembled to take you through 153 Q&A to your MB7-255 Exam preparation. In the MB7-255 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.

• Inventory Costing (39 percent)
Inventory Costing Overview, Setup, and Principles
Inventory Costing Functionality
Inventory Valuation Functionality

• Manufacturing Costing (34 percent)
Manufacturing Costing Concepts
Manufacturing Costing Principles and Functionality
Standard Cost Worksheet

• Job Costing (27 percent)
Job Costing Posting
Job Costing Analysis
Job Costing Setup and Periodic Activities

Audience profile
Individuals who want to obtain a certification on Microsoft Business Solutions – Navision (now Microsoft Dynamics NAV) 4.0 Costing 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 NAV
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.

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

• Microsoft Business Solutions – Navision 4.0 Inventory Costing

• Microsoft Business Solutions – Navision 4.0 Manufacturing Costing

• Microsoft Business Solutions – Navision 4.0 Job Costing

Classroom training for this exam

• Course 8388B: Microsoft Business Solutions – Navision 4.0 Inventory Costing
• Course 8389B: Microsoft Business Solutions – Navision 4.0 Manufacturing Costing
• Course 8424: Microsoft Business Solutions – Navision 4.0 Job Costing

Additional skills recommended

• General working knowledge of Microsoft Windows 98, Windows 2000, or Windows XP

• Knowledge of the setup and configuration process

• Understanding of costing rules and practices

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 effectively use the costing modules in Microsoft Dynamics 4.0.

Exam specifics
Time requirements and questions

• 90 minutes to complete the exam

• 50 questions, with a passing rate of 70 percent

• Multiple choice and multiple answer questions

Registration

• Register now (Prometric.com)
Question: 1
An item has two purchase entries, 02/04/04 and 03/06/04. Each purchase was for 10 items with a direct cost of 50 LCY and 60 LCY, respectively. What would the direct cost be if a transfer
occurred on 03/05/04, using the average costing method?

A – 55
B – 60
C – 50
D – 45
Answer: C Question: 2
What is the generic formula for calculating the total acquisition cost of an item?

A – Purchase costs (+ discounts) + additional acquisition costs + indirect costs
B – Purchase costs (- discounts) + additional acquisition costs – indirect costs
C – Purchase costs (+ discounts) + additional acquisition costs + direct costs
D – Purchase costs (- discounts) + additional acquisition costs + indirect costs
Answer: D Question: 3
Which of the following costing methods are supported by Microsoft Navision?

A – Standard B – Specific C – Average D – FILO
Answer: A, B, C Question: 4
What is the calculation for finding the value of ending inventory?

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A – Beginning inventory + net purchases – manufacturing cost
B – Beginning inventory + net purchases – cost of goods sold
C – Beginning inventory + value of all increases – value of all decreases
D – Beginning inventory + manufacturing cost – cost of goods sold
Answer: B Question: 5
How does Microsoft Navision treat customer and vendor returns?

A – Both are considered an increase in inventory
B – They are a decrease and increase, respectively to inventory
C – Both are considered a decrease to inventory
D – They are an increase and decrease, respectively, to inventory
Answer: D Question: 6
How does Microsoft Navision allow for the creation of lines for the items for which you want a physical count in the Phys. Inventory Journal?

A – The Calculate Accounting Period function
B – Manually
C – The Calculate Physical Inventory function
D – The Calculate Inventory function
Answer: B, D Question: 7
How are the expected inventory costs posted to the G/L for a receipt that is posted as invoiced?

A – Credited to the Inventory (Interim) account
B – Debited to the Inventory account
C – Credited to the Direct Cost Applied account
D – Debited to the Inventory Accrual (Interim) account
Answer: A, D Question: 8
According to the Physical Inventory Journal, you are supposed to have 1250 units of item A. After completing a physical inventory count, you discover that you are 1 09 units short. How do you
input this difference into Microsoft Navision?

A – On the Physical InventoryJournal, enter-109 in the Quantityfield and post
B – On the Physical InventoryJournal, enter-109 in the Qty (Physical) field and post
C – On the Physical Inventory Journal, enter 1141 in the Quantity field and post
D – On the Physical Inventory Journal, enter 1141 in the Qty (Physical) field and post
Answer: D Question: 9
What is the posting date for the rounding value entry for an item using the standard costing method and the following information?

A – 05/05/04
B – 05/07/04
C – 05/08/04
D – 05/15/04
Answer: A Question: 10
How does Microsoft Navision handle posting cost adjustments after the accounting period if the occurred cost has been closed?

A – The original accounting period for the occurred is reopened and the cost adjustments are made

B – The cost adjustments are applied to the current open accounting period
C – As long as the year-end process has not run, cost adjustments can be posted to any period
D – The cost adjustments are applied to the next open accounting period
Answer: B Question: 11
In which of the following scenarios will a decrease in inventory be affected by revaluation?

A – The entry number is later than the revaluation entry number and the posting date is later than the revaluation posting date
B – The entry number is earlier than the revaluation entry number and the posting date is later than the revaluation posting date
C – The entry number is earlier than the revaluation entry number and the posting date is equal to
than the revaluation posting date
D – The entry number is later than the revaluation entry number and the posting date is earlier than the revaluation posting date
Answer: A, B, D Question: 12
Microsoft Navision handles rounding for which of the costing methods?

A – Average
B – FIFO C – LIFO
D – Weighted
Answer: A, B, C Question: 13
For which of the following value tjpes can Microsoft Navision create separate value entries?

A – Direct cost B – Rounding C – Variances D – Scrap
Answer: A, B, C Question: 14
An item has two purchase entries, 02/04/04 and 03/06/04. Each purchase was for 10 items with a direct cost of 50 LCY and 60 LCY, respectively. What would the value of a 8 item transfer be if it occurred on 03/07/04, using the FIFO costing method?

A – 440
B – 400
C – 480
D – 360
Answer: B Question: 15
Microsoft Navision supports which of the following cost flow assumptions?

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Questions and Answers : 153 Q&A
Updated: 2008-2-25
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