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Microsoft Microsoft Dynamics NAV 2013 MB7-701

MB7-701

Exam Code: MB7-701

Exam Name: Microsoft Dynamics NAV 2013 Core Setup and Finance

Updated: Jul 30, 2026

Q & A: 78 Questions and Answers

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Microsoft Microsoft Dynamics NAV 2013 MB7-701 Microsoft Dynamics NAV 2013 Core Setup and Finance Exams

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Microsoft MB7-701 Exam Syllabus Topics:

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

                                          Microsoft Dynamics NAV 2013 Core Setup and Finance Sample Questions:

                                          1. You implement the following rule in the Cost Accounting module: Income (G/L) = Operational Value + Actual Accruals
                                          Which two statements are always true? (Each correct answer presents part of the solution. Choose two.)

                                          A) AllG/Lentries from income statements are transferred.
                                          B) Non-G/L-related cost postings are always posted to a cost center and a cost object.
                                          C) G/Laccounts of type Balance Sheet are not transferred.
                                          D) Non-G/L-related cost postings are always posted with a single balancing account.


                                          2. You need to configure Microsoft Dynamics NAV to register when specific users log on and for how long they stay logged on. Which page should you use?

                                          A) Permission Set
                                          B) User Setup
                                          C) Application Setup
                                          D) Users


                                          3. A company purchases 10 laptops and enters them in Microsoft Dynamics NAV as one asset code X.
                                          The company sells one of the laptops after two years.
                                          What steps should you take, in order, to process this change in the Fixed Assets (FA) module?

                                          A) Dispose and post 10% of asset values X using an FA G/L journal, and then sell asset X using a Fixed Asset sales invoice line type.
                                          B) Create fixed asset card Y, post 10% of asset values X to asset Y by using an FA reclassification journal, and then sell asset Y using a Fixed Asset sales invoice line type.
                                          C) Create fixed asset card Y, post 10% of asset values X as a disposal to asset Y by using an FA reclassification journal, and then sell asset Y using a Fixed Asset sales invoice line type.
                                          D) Create fixed asset card Y, post 10% of asset values X to asset Y by using an FA journal, and then sell asset Y using a Fixed Asset sales invoice line type.


                                          4. What is the main purpose of the Item Category Code field?

                                          A) To enable users to run the Post Inventory Cost to C/I batch job
                                          B) To group items when printing statistics reports
                                          C) To create templates with pre-defined values so users do not have to enter posting groups when setting up an item card
                                          D) To group items so that it is easier to filter them


                                          5. Which window do you use to create a new user?

                                          A) User Card
                                          B) User Setup
                                          C) Permission Sets
                                          D) User Personalization Card


                                          Solutions:

                                          Question # 1
                                          Answer: B,C
                                          Question # 2
                                          Answer: B
                                          Question # 3
                                          Answer: B
                                          Question # 4
                                          Answer: C
                                          Question # 5
                                          Answer: A

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