Exam MB-920: Microsoft Dynamics 365 Fundamentals (ERP) MCQ - Quiz

This item tests the candidate's knowledge of configuring a Dynamics 365 Supply Chain Management product and delineating between a product item and a service.

The Service **** product type is used to describe service products. The technical support in the requirements is a service offering and the company is selling hourly labor to customers to troubleshoot issues. The Item **** product type is for products that are purchased, and you can use them for consumption, distribution, and resell, and you can include them in the production of manufactured (BOM) items. The Search name field is an optional secondary name field for products and released products which allows for quicker searching. The Vendor **** field is a lookup to the list of available suppliers. Since this is an in-house service offering and not an item, no vendor is required.

Concept of a product - Training | Microsoft Learn

Product identifiers - Supply Chain Management | Dynamics 365 | Microsoft Learn

Product information overview - Supply Chain Management | Dynamics 365 | Microsoft Learn

This item tests the candidate’s knowledge of Dynamics 365 Finance core capabilities. Creating legal entities is a core function of Dynamics 365 Finance.

The legal entity is an organization that is identified through registration with a legal authority. The workflow system provides functionality that you can use to create individual workflows or business processes. Organizational hierarchies represent the relationships between the organizations that make up a business. An operating unit is an organization that is used to divide the control of economic resources and operational processes in a business.

Create a legal entity - Training | Microsoft Learn

Create a legal entity - Finance & Operations | Dynamics 365 | Microsoft Learn

This item tests the candidate’s knowledge of the general ledger features in Dynamic 365 Finance.

Legal entity overrides are for short-term use. Not all main accounts are valid for all legal entities, and some main accounts might be relevant only for a specific period. Legal entity overrides are for short-term use. Not all main accounts are valid for all legal entities, and some main accounts might be relevant only for a specific period. Journal entries are used only for adjustments. Period-end close is when you run the process for the end of the period.

Get started with chart of accounts in Dynamics 365 Finance - Training | Microsoft Learn

Plan your chart of accounts - Finance | Dynamics 365 | Microsoft Learn

This item tests the candidate’s knowledge of making payments to international vendors by using the letter of credit functionality.

Letter of credit is a bank document that are commonly used for the purchase and sale of goods across international borders. In Dynamics 365 Finance, it is configured in the Cash and bank management module. Letter of credit is a bank document that is referenced in accounts payable for payment, but it is neither configured nor maintained in the Accounts payables module. The General ledger module maintains the chart of accounts to link the bank account. It does not maintain or create bank documents. Letter of credit is a bank document, which may be used to receive payment; it is neither configured nor maintained in the Accounts receivable module.

Configure letters of credit and guarantees in Dynamics 365 Finance - Training | Microsoft Learn

Letters of credit - Finance | Dynamics 365 | Microsoft Learn

This item tests the candidate’s knowledge of legal entities and how they can be used within a company to localize operations for financial management purposes.

A legal entity is a country/region-specific organization that has a registered or legislated legal structure. Legal entities can enter legal contracts and are required to prepare statements that report on their performance. In the scenario, a legal entity would be used for the Canadian operations of the automotive company to support its legal contract execution within Canada and financial statement preparation.

Sales tax groups are incorrect because they are used to support sales tax codes when goods or services are traded with customers and vendors.

Fixed assets are incorrect because they are items such as buildings, vehicles, land, and equipment that are of value and owned by an individual or organization.

The registration category is part of recording registration numbers or IDs that many countries/regions require. This is incorrect because the registration category is a country/region registration identifier approved for use in a country/region for tax, customs, and other purposes.

Explore Microsoft Dynamics 365 Finance core capabilities - Training | Microsoft Learn

This item tests the candidate’s knowledge of manufacturing strategies.

The make-to-stock principle is the classic manufacturing principle where you produce products for stock based on forecast or minimum stock refill. You calculate the latter based on forecast or historic consumption. The make-to-order principle is triggered by a sales order or transfer order. The configure-to-order principle is triggered by a sales order or transfer order. The actual product variant you produce is not predefined; you create it at the time of order entry based on the configuration model of the sales product. Engineer to order processes is typically addressed by a project and usually start with the engineering phase. During the engineering phase, the actual products that are required to fulfill the order are designed and described. Production orders, batch orders, or Kanbans can then be created to produce the products.

Explore manufacturing strategies - Training | Microsoft Learn

Production process overview - Supply Chain Management | Dynamics 365 | Microsoft Learn