Microsoft MB7-701 Q&A - in .pdf

  • MB7-701 pdf
  • Exam Code: MB7-701
  • Exam Name: Microsoft Dynamics NAV 2013 Core Setup and Finance
  • Updated: Oct 27, 2026
  • Q & A: 78 Questions and Answers
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  • Exam Code: MB7-701
  • Exam Name: Microsoft Dynamics NAV 2013 Core Setup and Finance
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  • Updated: Oct 27, 2026
  • Q & A: 78 Questions and Answers
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  • Exam Code: MB7-701
  • Exam Name: Microsoft Dynamics NAV 2013 Core Setup and Finance
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  • Q & A: 78 Questions and Answers
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Microsoft MB7-701 Exam Syllabus Topics:

SectionObjectives
Core Financial Processes- Cash and bank management
  • 1. Bank account setup and reconciliation
    • 2. Cash flow management
      - Accounts Payable and Receivable
      • 1. Vendor and customer management
        • 2. Invoice and payment processing
          Inventory and Resource Management- Inventory setup
          • 1. Item cards and categories
            • 2. Inventory posting setup
              - Costing and valuation
              • 1. Inventory valuation and adjustments
                • 2. Costing methods
                  Microsoft Dynamics NAV Installation and Setup- System requirements and installation planning
                  • 1. Installation components and architecture
                    • 2. Hardware and software prerequisites
                      - Company and environment configuration
                      • 1. User setup and permissions
                        • 2. Creating and configuring companies
                          Reporting and Analysis- Financial reporting
                          • 1. Standard financial statements
                            • 2. Account schedules
                              - Data analysis tools
                              • 1. Dimensions analysis
                                • 2. Business intelligence integration
                                  Financial Management Setup- Posting and accounting setup
                                  • 1. VAT and tax configuration
                                    • 2. Posting setup rules
                                      - General Ledger configuration
                                      • 1. Posting groups and dimensions
                                        • 2. Chart of accounts setup

                                          Microsoft Dynamics NAV 2013 Core Setup and Finance Sample Questions:

                                          Question #1

                                          How do you adjust the amount of payment discount on an invoice entry in the Customer Ledger Entry table?

                                          • A. Enter the new discount amount in the Original Pmt. Disc. Possible field.
                                          • B. Enter the new discount amount in the Remaining Pmt. Disc. Possible field.
                                          • C. You cannot adjust the discount amount after posting.
                                          • D. Reduce the value in the Remaining Amount field, so the difference between the Original Amount and Remaining Amount will be posted to the payment discount account.
                                          Reveal Solution  Discussion  0

                                          Correct Answer: B  🗳️

                                          Question #2

                                          When processing purchase invoices, employees at a company enter the following information: order number, invoice number, vendor number, vendor order number, vendor invoice number, and item numbers.
                                          Which of these numbers can be made mandatory by using the Ext. Doc. No. Mandatory check box on the Purchases & Payables Setup window?

                                          • A. Vendor invoice number
                                          • B. Vendor order number
                                          • C. Invoice document number
                                          • D. Vendor number
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

                                          Question #3

                                          You create a sales quote, your customer accepts the quote, and you convert the quote to an order. Which statement is true?

                                          • A. The new order keeps the Document Date from the quote. The order lines are updated with the unit prices from the item cards.
                                          • B. The new order's Document Date and Order Date are the same as the work date. The order lines are updated with the unit prices from the item cards.
                                          • C. The new order keeps the Document Date from the quote, and the Order Date is the same as the work date. The order lines are not updated with the unit prices from the item cards.
                                          • D. The new order keeps the Document Date from the quote, and the Order Date is the same as the Document Date from the quote. The order lines are not updated with the unit prices from the item cards.
                                          Reveal Solution  Discussion  0

                                          Correct Answer: C  🗳️

                                          Question #4

                                          Which window is not an option for analyzing cash flow?

                                          • A. Cash Flow Report Selection
                                          • B. Cash Flow Ledger Entries
                                          • C. Cash Flow Date List
                                          • D. Cash Flow Account Schedule
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A  🗳️

                                          Question #5

                                          When entering a purchase invoice based on an associated purchase order, a user finds multiple item numbers on the vendor's invoice.
                                          You advise the user to process the invoice lines using the data on the Get Receipt Lines window for each item-related invoice line, instead of entering these item lines manually.
                                          What are two reasons you advise this action? (Each correct answer presents a complete solution. Choose two.)

                                          • A. It prevents the items from being received again, creating double stock, when posting the invoice.
                                          • B. Lines that are entered manually are not accepted on a purchase invoice based on an associated purchase order.
                                          • C. It is the only way to add the packing slip number to the invoice lines.
                                          • D. It enables the user to check immediately whether the invoiced items have all been received completely and if they have been invoiced.
                                          Reveal Solution  Discussion  0

                                          Correct Answer: A,D  🗳️

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