MB-310 PRACTICE QUESTIONS WITH VERIFIED
ACCURATE SOLUTION 2026
Which system account is not a required system account? - Answers -Cash difference
Which task is not completed from the chart of accounts in Finance? - Answers -Create
periods
Which account type is used for budgetary control? - Answers -Expense
You plan to transfer the balances to the Closing sheet forms during the closing process.
What option should you select to update operating accounts? - Answers -Result
Which functionality in Finance helps companies manage delinquent customers? -
Answers -Credit and collections
Which functionality in Finance helps companies cancel wrong deposits? - Answers -
Cash and bank management
Which functionality in Finance helps companies to prioritize payments received? -
Answers -Accounts receivable
What type of currency is known as a ledger currency? - Answers -Accounting currency
What type of currency is known as a secondary currency? - Answers -Reporting
currency
How can a fiscal calendar be copied from one legal entity to another? - Answers -The
fiscal calendar is shared master data, so there is no need to copy it. You only need to
associate it with the Ledger page of the legal entity
How many opening periods can you have in a fiscal calendar year? - Answers -One
How many closing periods can you have in a fiscal calendar year? - Answers -
Unlimited
Which journal type registers basic information about customer invoices? - Answers -
Invoice register
Which journal type creates a file that can be sent to your organization's bank? -
Answers -Customer bank remittance
What is one of the benefits of the chart of accounts in Finance? - Answers -A chart of
accounts can be used for multiple legal entities in an organization.
, Which report has an option to show transactions by day, account, dimension and
period? - Answers -Dimension statement
In which tab of a journal header can you make the journal private for your own use, so
no one else can edit the journal? - Answers -Blocking
You are working with a journal that has been created by your CFO from a different
company. Which form has the CFO used in his/her legal entity for you to be able to view
it? - Answers -Global general journal
You must set up the chart of accounts for intercompany transactions. Which ledger
account type should you specify for the Due to and Due from ledger accounts? -
Answers -Balance sheet
You want to post an intercompany general ledger journal. The companies for which you
will set up intercompany accounting, share the same chart of accounts. What do you set
up to enable intercompany posting? - Answers -Set up the intercompany journal name
in both companies
You are using a General journals page to create and post intercompany journals to be
posted. In this journal, you have one voucher with three lines. When you post, how
many total vouchers will be posted, and how many per company? - Answers -Two
vouchers total and one voucher for each company
Which option is not considered part of setting up an allocation rule? - Answers -Source
document
Which allocation method defines how, and in what proportion, the source amounts are
distributed to the various destination lines, by referring to balances in other account
dimensions? - Answers -Basis
If you receive and post a vendor invoice, but want to recognize that expense later,
which Finance functionality is the best solution? - Answers -Accrual scheme
Which one of the following components defines how the result of the allocation
calculation should be distributed and accounted for? - Answers -Destination
Which one of the following methods in foreign currency revaluation jobs is used to post,
regardless of whether the result is a profit or loss? - Answers -Standard
You need to process exchange rate adjustments on eligible main accounts. What
should you do? - Answers -Use the periodic General Ledger function, Foreign currency
revaluation.
ACCURATE SOLUTION 2026
Which system account is not a required system account? - Answers -Cash difference
Which task is not completed from the chart of accounts in Finance? - Answers -Create
periods
Which account type is used for budgetary control? - Answers -Expense
You plan to transfer the balances to the Closing sheet forms during the closing process.
What option should you select to update operating accounts? - Answers -Result
Which functionality in Finance helps companies manage delinquent customers? -
Answers -Credit and collections
Which functionality in Finance helps companies cancel wrong deposits? - Answers -
Cash and bank management
Which functionality in Finance helps companies to prioritize payments received? -
Answers -Accounts receivable
What type of currency is known as a ledger currency? - Answers -Accounting currency
What type of currency is known as a secondary currency? - Answers -Reporting
currency
How can a fiscal calendar be copied from one legal entity to another? - Answers -The
fiscal calendar is shared master data, so there is no need to copy it. You only need to
associate it with the Ledger page of the legal entity
How many opening periods can you have in a fiscal calendar year? - Answers -One
How many closing periods can you have in a fiscal calendar year? - Answers -
Unlimited
Which journal type registers basic information about customer invoices? - Answers -
Invoice register
Which journal type creates a file that can be sent to your organization's bank? -
Answers -Customer bank remittance
What is one of the benefits of the chart of accounts in Finance? - Answers -A chart of
accounts can be used for multiple legal entities in an organization.
, Which report has an option to show transactions by day, account, dimension and
period? - Answers -Dimension statement
In which tab of a journal header can you make the journal private for your own use, so
no one else can edit the journal? - Answers -Blocking
You are working with a journal that has been created by your CFO from a different
company. Which form has the CFO used in his/her legal entity for you to be able to view
it? - Answers -Global general journal
You must set up the chart of accounts for intercompany transactions. Which ledger
account type should you specify for the Due to and Due from ledger accounts? -
Answers -Balance sheet
You want to post an intercompany general ledger journal. The companies for which you
will set up intercompany accounting, share the same chart of accounts. What do you set
up to enable intercompany posting? - Answers -Set up the intercompany journal name
in both companies
You are using a General journals page to create and post intercompany journals to be
posted. In this journal, you have one voucher with three lines. When you post, how
many total vouchers will be posted, and how many per company? - Answers -Two
vouchers total and one voucher for each company
Which option is not considered part of setting up an allocation rule? - Answers -Source
document
Which allocation method defines how, and in what proportion, the source amounts are
distributed to the various destination lines, by referring to balances in other account
dimensions? - Answers -Basis
If you receive and post a vendor invoice, but want to recognize that expense later,
which Finance functionality is the best solution? - Answers -Accrual scheme
Which one of the following components defines how the result of the allocation
calculation should be distributed and accounted for? - Answers -Destination
Which one of the following methods in foreign currency revaluation jobs is used to post,
regardless of whether the result is a profit or loss? - Answers -Standard
You need to process exchange rate adjustments on eligible main accounts. What
should you do? - Answers -Use the periodic General Ledger function, Foreign currency
revaluation.
