Microsoft MB7-255 PDF download - Education - Study Techniques

Navision 4.0 Costing MB7-255 Test

Question: 1An item has two purchase entries, 02/04/04 and 03/06/04. Each purchase was for 10 items with adirect cost of 50 LCY and 60 LCY, respectively. What would the direct cost be if a transferoccurred on 03/05/04, using the average costing method?

A - 55B - 60C - 50D - 45

Answer: C

Question: 2What is the generic formula for calculating the total acquisition cost of an item?

A - Purchase costs (+ discounts) + additional acquisition costs + indirect costsB - Purchase costs (- discounts) + additional acquisition costs - indirect costsC - Purchase costs (+ discounts) + additional acquisition costs + direct costsD - Purchase costs (- discounts) + additional acquisition costs + indirect costs

Answer: D

Question: 3Which of the following costing methods are supported by Microsoft Navision?

A - StandardB - SpecificC - AverageD - FILO

Answer: A, B, C

Question: 4What is the calculation for finding the value of ending inventory?

A - Beginning inventory + net purchases - manufacturing costB - Beginning inventory + net purchases - cost of goods soldC - Beginning inventory + value of all increases - value of all decreasesD - Beginning inventory + manufacturing cost - cost of goods sold

Answer: B

Question: 5How does Microsoft Navision treat customer and vendor returns?

A - Both are considered an increase in inventoryB - They are a decrease and increase, respectively to inventoryC - Both are considered a decrease to inventoryD - They are an increase and decrease, respectively, to inventory

Answer: D

Question: 6How does Microsoft Navision allow for the creation of lines for the items for which you want aphysical count in the Phys. Inventory Journal?A - The Calculate Accounting Period functionB - ManuallyC - The Calculate Physical Inventory functionD - The Calculate Inventory function

Answer: B, D

Question: 7How are the expected inventory costs posted to the G/L for a receipt that is posted as invoiced?

A - Credited to the Inventory (Interim) accountB - Debited to the Inventory accountC - Credited to the Direct Cost Applied accountD - Debited to the Inventory Accrual (Interim) account

Answer: A, D

Question: 8According to the Physical Inventory Journal, you are supposed to have 1250 units of item A. Aftercompleting a physical inventory count, you discover that you are 1 09 units short. How do youinput this difference into Microsoft Navision?

A - On the Physical InventoryJournal, enter-109 in the Quantityfield and postB - On the Physical InventoryJournal, enter-109 in the Qty (Physical) field and postC - On the Physical Inventory Journal, enter 1141 in the Quantity field and postD - On the Physical Inventory Journal, enter 1141 in the Qty (Physical) field and post

Answer: D

Question: 9What is the posting date for the rounding value entry for an item using the standard costingmethod and the following information?

A - 05/05/04B - 05/07/04C - 05/08/04D - 05/15/04

Answer: A

Question: 10How does Microsoft Navision handle posting cost adjustments after the accounting period if theoccurred cost has been closed?

A - The original accounting period for the occurred is reopened and the cost adjustments are madeB - The cost adjustments are applied to the current open accounting periodC - As long as the year-end process has not run, cost adjustments can be posted to any periodD - The cost adjustments are applied to the next open accounting period

Answer: B

Question: 11In which of the following scenarios will a decrease in inventory be affected by revaluation?

A - The entry number is later than the revaluation entry number and the posting date is later than the revaluation posting dateB - The entry number is earlier than the revaluation entry number and the posting date is later than the revaluation posting dateC - The entry number is earlier than the revaluation entry number and the posting date is equal to than the revaluation posting dateD - The entry number is later than the revaluation entry number and the posting date is earlier than the revaluation posting date

Answer: A, B, D

Question: 12Microsoft Navision handles rounding for which of the costing methods?

A - AverageB - FIFOC - LIFOD - Weighted

Answer: A, B, C

Question: 13For which of the following value tjpes can Microsoft Navision create separate value entries?

A - Direct costB - RoundingC - VariancesD - Scrap

Answer: A, B, C

Question: 14An item has two purchase entries, 02/04/04 and 03/06/04. Each purchase was for 10 items with adirect cost of 50 LCY and 60 LCY, respectively. What would the value of a 8 item transfer be if itoccurred on 03/07/04, using the FIFO costing method?

A - 440B - 400C - 480D - 360

Answer: B

Question: 15Microsoft Navision supports which of the following cost flow assumptions?

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