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Microsoft Dynamics AX 2012 Financials Sample Questions:

1. In Microsoft Dynamics AX 2012, which of the following statements about encumbrance accounting (also known as commitment accounting) are true? (Choose all that apply.)

A) Closing purchase order encumbrances is part of the fiscal year closing process.
B) To use encumbrance accounting with budget appropriation enabled, budget control is required.
C) When the pre-encumbrance process is enabled, the encumbrance process is required.
D) To use encumbrance accounting, posting definitions are required.
E) A sales order is a typical encumbrance transaction for which there has been an expenditure of funds.

2. You need to import an electronic bank confirmation for a vendor payment. In Microsoft Dynamics AX 2012, which form should you use?

A) General ledger journal
B) Bank journal
C) Payment transfer journal
D) Payment journal

3. In Microsoft Dynamics AX 2012, what process allows you to view inconsistencies at the bottom of a printed financial statement?

A) Print the miscellaneous section of the financial statement.
B) Print the footer section of the financial statement.
C) Create a dimension set section in the row definition.
D) Create an exceptionrow type in the row definition.

4. In Microsoft Dynamics AX 2012, you generate a fixed assets acquisition transaction directly from a purchase order invoice. Where will the associated General Ledger postings be made?

A) To only the Fixed asset suspense account.
B) To the Fixed asset issue and Fixed asset receipt accounts.
C) To only the Fixed asset issue account.
D) To only the Fixed asset receipt account.

5. Which of the following statements about value models for fixed assets in Microsoft Dynamics AX 2012 is true?

A) Value models connect all financial information about fixed assets.
B) Value models are optional when setting up depreciation for a fixed asset.
C) Value models are used to assign additional life cycles to a fixed asset.
D) Value models are a subset of the value of a fixed asset.

Solutions: