Microsoft Dynamics 365 Finance Functional Consultant

Here you have the best Microsoft MB-310 practice exam questions

  • You have 408 total questions across 82 pages (5 per page)
  • These questions were last updated on February 20, 2026
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Question 1 of 408

Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question in this section, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are configuring the year-end setup in Dynamics 365 Finance.
You need to configure the year-end setup to meet the following requirements:
✑ The accounting adjustments that are received in the first quarter must be able to be posted into the previous year's Period 13.
✑ The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.
✑ All dimensions from profit and loss must carry over into the retained earnings.
✑ All future and previous periods must have an On Hold status.
Solution:
✑ Configure General ledger parameters.
- Set the Delete close of year transactions option to Yes.
- Set the Create closing transactions during transfer option to Yes.
- Set the Fiscal year status to permanently closed option to No.
✑ Define the Year-end close template.
- Designate a retained earnings main account for each legal entity.
- Set the Financial dimensions will be used on the Opening transactions option to No.
- Set the Transfer profit and loss dimensions option to Close All.
✑ Set all prior and future Ledger periods to a status of On Hold.
Does the solution meet the goal?
Answer

Suggested Answer

The suggested answer is B.

The solution provided does not meet all the stated requirements. Specifically, setting 'Set the Financial dimensions will be used on the Opening transactions option to No' contradicts the requirement that 'All dimensions from profit and loss must carry over into the retained earnings.' To meet this requirement, the option should be set to Yes to ensure that financial dimensions are used. Additionally, setting the 'Delete close of year transactions option to Yes' means previous year-closing transactions would be deleted, which does not align with the goal of only keeping the most recent closing entry.

Community Votes6 votes
AMost voted
67%
BSuggested
33%
Question 2 of 408

Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question in this section, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are configuring the year-end setup in Dynamics 365 Finance.
You need to configure the year-end setup to meet the following requirements:
✑ The accounting adjustments that are received in the first quarter must be able to be posted into the previous year's Period 13.
✑ The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.
✑ All dimensions from profit and loss must carry over into the retained earnings.
✑ All future and previous periods must have an On Hold status.
Solution:
✑ Configure General ledger parameters.
- Set the Delete close of year transactions option to Yes.
- Set the Create closing transactions during transfer option to Yes.
- Set the Fiscal year status to permanently closed option to Yes.
✑ Define the Year-end close template.
- Designate a retained earnings main account for each legal entity.
- Set the Financial dimensions will be used on the Opening transactions option to Yes.
- Set the Transfer profit and loss dimensions to Close All.
✑ Set all prior and future Ledger periods to a status of On Hold.
Does the solution meet the goal?
Answer

Suggested Answer

The suggested answer is B.

The solution does not meet the goal because setting the Fiscal year status to permanently closed means that the fiscal year cannot be reopened if needed, which is against the requirement that the fiscal year closing can be run again with only the most recent closing entry remaining in the transactions. Additionally, both the Create closing transactions during transfer and the Transfer profit and loss dimensions set to Close All meet the requirements, but the fiscal year status setting is crucial and incorrect.

Community Votes9 votes
BSuggested
78%
A
22%
Question 3 of 408

Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question in this section, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are configuring the year-end setup in Dynamics 365 Finance.
You need to configure the year-end setup to meet the following requirements:
✑ The accounting adjustments that are received in the first quarter must be able to be posted into the previous year's Period 13.
✑ The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.
✑ All dimensions from profit and loss must carry over into the retained earnings.
✑ All future and previous periods must have an On Hold status.
Solution:
✑ Configure General ledger parameters.
- Set the Delete close of year transactions option to No.
- Set the Create closing transactions during transfer option to No.
- Set the Fiscal year status to permanently closed option to No.
✑ Define the Year-end close template.
- Designate a retained earnings main account for each legal entity.
- Set the Financial dimensions will be used on the Opening transactions option to No.
- Set the Transfer profit and loss dimensions to Close All.
✑ Set all prior and future Ledger periods to a status of On Hold.
Does the solution meet the goal?
Answer

Suggested Answer

The suggested answer is B.

The solution does not meet the goal. To ensure that the fiscal year can be closed again with only the most recent closing entry remaining, the Delete close of year transactions option should be set to Yes. Additionally, setting the Create closing transactions during transfer option to No and the Fiscal year status to permanently closed option to No does not align with the requirement to re-run the fiscal year closing while retaining the most recent closing entry.

Community Votes4 votes
BSuggested
100%
Question 4 of 408

HOTSPOT -
You are implementing a Dynamics 365 Finance general ledger module for a client that has multiple legal entities.
The client has the following requirements:
✑ Configure automatic creation of due to/due from transactions based on when LegalEntityA transacts with LegalEntityB.
✑ Automatically split the dollar amount in half between DimensionA and DimensionB when the journal is posted.
✑ Set up fixed or variable allocations, and then review the allocations in a journal before posting.
✑ Automatically post year-end results to account 30016 during year-end close.
You need to configure the system.
Which system capability should you configure? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Hot Area:
Exam MB-310: Question 4 - Image 1
Answer

Suggested Answer

Exam MB-310: Question 4 - Image 2
Question 5 of 408

A company is preparing to complete a year-end close process.
You need to configure the Dynamics 365 Finance general ledger module.
Which three configurations actions should you perform? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
Answer

Suggested Answer

The suggested answer is A, B, E.

To properly configure the Dynamics 365 Finance general ledger module for a year-end close process, several key configurations must be completed. First, configuring the Fiscal year close parameters ensures the system's settings align with the specific requirements of the close process. Second, configuring the ledger calendar for the new fiscal year is crucial as it allows the system to recognize and create periods for the upcoming year. Finally, creating the next fiscal year is necessary since the new fiscal year needs to exist for the system to carry over the beginning balances correctly into the opening period. These steps lay the groundwork for an effective and accurate year-end closing.

Community Votes13 votes
ACEMost voted
54%
ADE
46%

About the Microsoft MB-310 Certification Exam

About the Exam

The Microsoft MB-310 (Microsoft Dynamics 365 Finance Functional Consultant) validates your knowledge and skills. Passing demonstrates proficiency and can boost your career prospects in the field.

How to Prepare

Work through all 408 practice questions across 82 pages. Focus on understanding the reasoning behind each answer rather than memorizing responses to be ready for any variation on the real exam.

Why Practice Exams?

Practice exams help you familiarize yourself with the question format, manage your time, and reduce anxiety on the test day. Our MB-310 questions are regularly updated to reflect the latest exam objectives.