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Microsoft MB3-207 Exam - Cheat-Test.com

Free MB3-207 Sample Questions:

1.When using a Cost Plus or Fixed Price project when is revenue actually recognized?
A: When billings are posted.
B: When costs are recorded.
C: When a Revenue Recognition transaction is posted.
D: When the budget it updated.
Answer: C

2.Which of the following is a valid reason the Total Accrued Revenue field at the bottom of the Timesheet entry window would be zero?
A:All projects entered on the timesheet are either Cost Plus or Fixed Price.
B:The Billing Rate field was not added to the Timesheet entry window.
C:All timesheet line items are set to 'N/B'.
D:All projects have rate tables assigned and the employee profit type has a billing rate of $50 an hour.
Answer: A, C

3.Which of the following is NOT an available default source of posting accounts for a project budget?
A: Budget
B: Contract
C: Customer
D: Cost Category
Answer: A

4.Which of the following is true regarding the role Personal Data Keeper has with Project Time and Expense for Business Portal?
A: It has no role.
B: Personal Data Keeper is needed to process transactions to the Project Accounting module.
C: Personal Data Keeper is needed for set up of users only.
D: Personal Data Keeper is optional when using Time & Expense for Business Portal.
Answer: B

5.When revenue is recognized based on the summation of values from multiple cost categories in a project, what are the earnings said to be?
A: Complete
B: Combined
C: Augmented
D: Segmented
Answer: B

6.In order to bill a Retention fee, what must the status of a project be?
A: open
B: closed
C: Estimate
D: Completed
Answer: D

7.When using Personal Data Keeper, which of the following is true?
A: All Personal Data Keeper users must also have access to the accounting system.
B: All Personal Data Keeper users must have the accounting system open whenever they are using Personal Data Keeper.
C: Personal Data Keeper users are not required to have access to the accounting system.
D: Only the Administrator users must have access to the accounting system.
Answer: C

8.Billing cycles may be assigned at which of the following Project Accounting hierarchical levels?
A: Contract and project
B: Customer and project
C: Customer and contract
D: Customer, project and contract
Answer: D

9.Which of the following is a valid reason the Total Accrued Revenue field at the bottom of the Timesheet entry window would be zero?
A:All projects entered on the timesheet are either Cost Plus or Fixed Price.
B:The Billing Rate field was not added to the Timesheet entry window.
C:All timesheet line items are set to 'N/B'.
D:All projects have rate tables assigned and the employee profit type has a billing rate of $50 an hour.
Answer: A, C

10.Which of the following statements accurately represents a difference between Personal Data Keeper and Project Time and Expense for Business Portal?
A: Only Personal Data Keeper uses web services to interface with SQL server.
B: Project Time & Expense for Business Portal may be used to approve expenses but Personal Data Keeper cannot.
C: Only Personal Data Keeper timesheets can be entered in a week based format.
D: In Time & Expense for Business Portal employees must be assigned to a project before they can enter a timesheet for it.
Answer: D


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