Microsoft MB7-701 Actual Free Exam Questions & Community Discussion

A company has a large number of part-time employees, each working a different number of hours every week. The payroll expense for these employees must be recorded weekly. You set up a recurring journal.
Which Recurring Method should you use to record the payroll expenses?

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.)

What effect does the Additional Reporting Currency field in the General Ledger Setup window have when running the Close Income Statement batch job?

How is the Due Date of a Reminder calculated?

You have the rule:
Cost Type Balance = Cost Center Balance + Cost Object Balance
Which two statements are true? (Each correct answer presents part of the solution. Choose two.)

A user posts a fixed asset (FA) appreciation of $20,000 on fixed asset X.
The value of this appreciation must also be taken into account o the next monthly depreciation calculation.
You need to ensure that the added value of fixed asset X is depreciated over time. You enable Part of Depreciable Basis for the FA posting type Appreciation.
Where is the correct location to set up the depreciable basis?

You need to change the description of an item on the Item List page for the RoleTailored client. Which standard keyboard shortcut should you use?

You post a physical inventory journal line in the warehouse module. This posting creates a G/L entry. General posting groups X and Y are available to accommodate the resulting G/L entry.
Which set of general posting groups on the General Posting Setup window is used to create the G/L entry records?