Learn step-by-step how to define a budget model in Microsoft Dynamics 365 Finance that aligns with financial dimensions and budget cycles, ensuring seamless budget control for your organization.
Table of Contents
Question
The finance team at Contoso Ltd. is preparing for the upcoming fiscal year. They need to create a new budget model that will be used for all budget register entries. They want to ensure that the budget model aligns with their financial dimensions and can be associated with a specific budget cycle time span. You need to create a budget model that meets these requirements and can be used in the budget control framework. What should you do?
A. Configure the budget planning functionality to automatically generate a new budget model for the fiscal year.
B. Create multiple budget models for each financial dimension and link them together for the budget cycle.
C. Define a budget model with the appropriate financial dimensions and associate it with the required budget cycle time span.
D. Use an existing budget model and modify its financial dimensions to match the upcoming fiscal year’s requirements.
Answer
C. Define a budget model with the appropriate financial dimensions and associate it with the required budget cycle time span.
Explanation
Defining a new budget model with the appropriate financial dimensions and associating it with the required budget cycle time span ensures that the budget model aligns with the company’s financial structure and can be used effectively in the budget control framework. Using an existing budget model or creating multiple models for each dimension would not meet the specified requirements. The budget planning functionality does not automatically generate new budget models; it is used for preparing budget data.
Microsoft Dynamics 365 Finance Functional Consultant MB-310 certification exam assessment practice question and answer (Q&A) dump including multiple choice questions (MCQ) and objective type questions, with detail explanation and reference available free, helpful to pass the Microsoft Dynamics 365 Finance Functional Consultant MB-310 exam and earn Microsoft Dynamics 365 Finance Functional Consultant MB-310 certification.