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

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Which two modules integrate with Fixed Assets? (Each correct answer presents a complete solution. Choose two.)

A.    General Ledger
B.    Bank Reconciliation
C.    payables Management
D.    inventory
E.    Sales Order Processing

Answer: AC
Explanation: (Fixed Asset Management section)

You need to view an asset in Asset Maintenance.
Which two statuses can the asset have? {Each correct answer presents a complete solution. Choose two.)

A.    Retired
B.    Active
C.    Partial Open
D.    Transferred
E.    Sold

Answer: AB

A company enters all sales transactions as General Ledger transactions.
The company wants to use the tax features (details and schedules) in General Ledger.
Where must they go to activate this feature?

A.    General Ledger Setup
B.    Account Maintenance
C.    Company Setup Options
D.    Tax Schedule Maintenance

Answer: C

What is the maximum account length and maximum number of segments for an account in Microsoft Dynamics GP?

A.    66 and 10
B.    50 and 20
C.    25 and 5
D.    20 and 10

Answer: A

What is the maximum number of fiscal periods that can be created when setting up a new fiscal year in Microsoft Dynamics GP?

A.    13
B.    52
C.    366
D.    367

Answer: D

Selena, the accounting manager, is concerned because there is going to be some adjusting entries that need to be made to accounts in General Ledger.
Selena does not want to close the year until after these adjustments are made.
How many open years does Microsoft Dynamics GP allow?

A.    1
B.    2
C.    3
D.    Unlimited

Answer: D

Which of the following tasks are provided when using Advanced Lookups Setup?

A.    Set up additional keys to sort on within lookup windows
B.    Select a SmartList favorite for a lookup option
C.    Change the default sort for a lookup window
D.    Restrict on the items appearing in the lookup window

Answer: A

The System Administrator is setting up posting rules in Posting Setup.
The Administrator decidedto select the use Account Settings option in Posting Setup.
What is the purpose of this option?

A.    It allows posting to be limited to certain accounts.
B.    It allows some accounts to be posted to in detail and others in summary.
C.    It allows for the restriction of which accounts appear in each series
D.    It allows the use of the account level security option.

Answer: B

Which two operations can you perform by using Mass Modify Chart of Accounts? (Each correct answer presents a complete solution. Choose two.)

A.    Copy accounts to a new account range.
B.    Inactivate accounts.
C.    Modify accounts to have new account numbers.
D.    Combine multiple accounts into a single account.

Answer: AC

In Account Maintenance, what is the purpose of Posting Type?

A.    Determines which account category can be assigned to the account.
B.    Determines when the account balance will print in brackets on a report.
C.    Determines whether or not the balance in the account is a debit or a credit.
D.    Determines which accounts are closed to retained earnings at the end of the fiscal year.

Answer: D

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