Microsoft MB7-701 Exam : Microsoft Dynamics NAV 2013 Core Setup and Finance

  • Exam Code: MB7-701
  • Exam Name: Microsoft Dynamics NAV 2013 Core Setup and Finance
  • Updated: Sep 01, 2025
  • Q & A: 78 Questions and Answers

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Microsoft Dynamics NAV 2013 Core Setup and Finance Sample Questions:

1. Which statement about the value added tax (VAT) calculation type reverse charge VAT is true?

A) This option creates two G/L entries with the VAT amount that balance to U and two VAT entries.
B) This option is used only by Sales & Receivables and creates two VAT entries with the VAT amount that balance to 0.
C) This option is used only by Purchases & Payables transactions and creates two VAT entries with the VAT amount that balance to 0.
D) This option creates two G/L entries with the VAT amount that balance to 0 and one VAT entry.


2. Which options can be compared by the Budgets feature in Microsoft Dynamics NAV?

A) Departments, projects, and customer groups
B) G/L accounts, periods, and analysis views
C) G/L accounts, periods, and global dimensions
D) Departments, projects, and G/L accounts


3. Before posting a sales order invoice into the Financial module, you enter a valid dimension value code for DEPARTMENT and CUSTOMERGROUP in the sales order header. These dimensions, plus an additional dimension value code for PRODUCTGROUP, are entering on the sales order lines.
What dimension information is posted on the value added tax (VAT) entries as a result of the sales order?

A) The valid dimension combinations
B) None
C) Dimension value codes for each unique posting line
D) Dimension set ID


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 so that it is easier to filter them
C) To group items when printing statistics reports
D) To create templates with pre-defined values so users do not have to enter posting groups when setting up an item card


5. 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?

A) Reversing Fixed
B) Fixed
C) Variable
D) Balance


Solutions:

Question # 1
Answer: D
Question # 2
Answer: D
Question # 3
Answer: B
Question # 4
Answer: D
Question # 5
Answer: D

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