Microsoft MB3-862 questions and answers

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Exam Code: MB3-862
Exam Name: Microsoft (Microsoft Dynamics GP 2010 Inventory & Order Processingt)
Guaranteed success with practice guides, No help, Full refund!
75 Questions and Answers
Updated: 2013-12-29

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NO.1 What is the effect of selecting the checkboxes in Inventory Setup to Allow Overrides for adjustment,
variance, or transfer transactions?
A. The quantity entered on the transaction can be changed after posting.
B. Quantities that are greater than the quantity available can be entered.
C. Item quantity shortages can be substituted.
D. The item number can be changed on a transaction.
Answer: B

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NO.2 You have decided to implement cycle counting for certain inventory items and want to perform the
counts every three weeks. What feature in Inventory allows you to set working or non-working days for
counting purposes?
A. Item Resource Planning
B. Cycle Count Assignment
C. Stock Calendar
D. Stock Schedule
Answer: C

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NO.3 You have created a SmartList that displays On Hand, Available, and Allocated quantities for your
inventory items. What does the Allocated quantity represent?
A. The quantity available to sell.
B. The quantity reserved for sale or assembly.
C. The quantity On Hand less the quantity reserved for sale or assembly.
D. The quantity Available less the quantity reserved for sale or assembly.
Answer: B

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NO.4 In addition to Price Levels what other fields can be defined when creating a price list in Item Price List
Maintenance? Choose the 2 that apply.
A. Expiration Date
B. Quantity
C. Sales Tax Option
D. Unit of Measure
Answer: BD

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NO.5 In addition to transferring current-year quantities to history, what does the Inventory Year-End Closing
process allow you to do? Choose the 2 that apply.
A. Remove purchase receipts for items that have been completely sold.
B. Remove any discontinued items that have been completely sold.
C. Update item history for items that have not been sold.
D. Update lot and serial numbers for new items that have not been sold.
Answer: AB

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NO.6 Which item type tracks quantity, but not current cost?
A. Kit
B. Miscellaneous Charges
C. Sales Inventory
D. Services
Answer: D

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NO.7 When an item is entered on a sales transaction, in what order does the system search for a default
price level?
A. Item's default price level, customer card, Receivables Management Setup
B. Receivables Management Setup, item's default price level, customer card
C. Customer card, Receivables Management Setup, item's default price level
D. Item's default price level, Receivables Management Setup, customer card
Answer: C

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NO.8 The Landed Cost Apportionment window allows you to distribute landed costs based on weight and
what other methods.? Choose the 2 that apply.
A. Percentage
B. Quantity
C. Site ID
D. Value
Answer: BD

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NO.9 What allows documents to be tracked back to their original source in Sales Order Processing?
A. Batch ID
B. Document Number
C. Master Number
D. Transfer Number
Answer: C

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NO.10 When selecting the Quantity Decimals for an inventory item what requirement must be met to save the
selection?
A. The Quantity Decimals must equal the number of decimals set for the Price Level assigned to the item.
B. The Quantity Decimals must equal the number of decimals set for the Unit of Measure schedule
assigned to the item.
C. The Quantity Decimals must equal the number of Currency Decimals set for the item.
D. The Quantity Decimals must equal the number of decimals set for the Price Group.
Answer: B

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