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Microsoft Dynamics AX 2012 R2 Project

Question No: 1

Why would you create an estimate?

  1. To set a project#39;s budget

  2. To create an hours forecast

  3. To define the forecast model

  4. To monitor a project#39;s progress

Answer: D

Question No: 2

Which statement about fee forecasts is true?

  1. Fee forecasts are included as part of the regular billing process.

  2. Fee forecasts apply only to fixed-price projects.

  3. Fee forecasts apply only to time and material projects.

  4. Fee forecasts can be used for unexpected costs.

Answer: C

Question No: 3

You set up an effective labor rate for a worker. The hourly cost price is 60 USD. 40 hours are available in the work week calendar.

The worker submits only 30 hours for the week.

What is the effective labor rate that is calculated for this worker?

A. (30*40)/60 = 20 B. (30/40)*60 = 45 C. (60*30)/40 = 45 D. (60*40)/30 = 80

Answer: D

Question No: 4

You need to track the project costs in balance accounts until the customer is invoiced. Which type of project should you use?

  1. Fixed-price project with completed contract

  2. Fixed-price project with completed percentage and sales value

  3. Time and material project with work in process (WIP)

  4. Internal project with work in process (WIP)

  5. Time and material projects with accruals

Answer: C

Question No: 5

Which two items are determined by the cost templates for advanced fixed-price projects? (Each correct answer presents part of the solution. Choose two.)

  1. The amount of hours that can be posted for advanced fixed-price projects

  2. The amount of expenses that can be posted for advanced fixed-price projects

  3. Whether to calculate the degree of completion on the posted amount or quantity

  4. The categories included in calculating the degree of completion

Answer: C,D

Question No: 6

Your company invoices in U.S. dollars on a project for a company whose currency is euros.

To avoid any issues with currency exchange rate fluctuations,you agree on a fixed currency exchange rate for invoices.

How should you set up the project?

  1. Specify a fixed-rate agreement on the project.

  2. Specify a fixed exchange rate on the invoice proposal.

  3. Specify a fixed exchange rate on the sales order.

  4. Specify a fixed-rate agreement on the project contract.

Answer: D

Question No: 7

Which item is used to transfer costs from work in process (WIP) accounts to profit and loss accounts?

  1. Post costs form

  2. Adjustments form

  3. On-account posting

  4. Expense journal

Answer: A

Question No: 8

You need to recognize revenue as project costs are posted. Which type of project should you use?

  1. Fixed-price project with completed percentage and production plus profit

  2. Time and material project with work in process (WIP)

  3. Time and material project with accruals

  4. Fixed-price project with completed percentage and sales value

  5. Internal project with work in process (WIP)

Answer: C

Question No: 9

You are responsible for a customer’s fixed-price project.

The customer requests that you provide additional spare parts. The purchase of these spare parts falls outside the scope of the project.

You need to ensure that the customer is charged for the spare parts.

How should you create the sales order so that the customer is invoiced for the spare parts?

  1. Create the sales order by using a subproject of the type cost.

  2. Create the sales order by using a subproject of the type time and material.

  3. The sales order cannot be created because this is a fixed-price project.

  4. Create the sales order from the fixed-price project and ensure that the line property for the order lines is chargeable to the customer.

Answer: B

Question No: 10

Which journalizing option is used only for time tracking?

  1. No ledger

  2. Profit and loss

  3. Never ledger

  4. Balance

Answer: A

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