Infor M3 M3-123 Practice Test Engine: Try These 75 Exam Questions
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The Infor M3-123: Infor Certified M3 Finance Consultant exam is a certification exam designed for individuals who are seeking to become certified professionals in the field of finance consulting in the Infor M3 system. This exam is offered by Infor, a global leader in enterprise software solutions.
NEW QUESTION # 28
You are matching a purchase order to a supplier invoice. There is a difference between the purchase order record and the amount of the invoice received from the supplier. Which one of the following tasks do you complete prior to recoding the invoice?
- A. Approve the invoice for payment
- B. Approve the invoice variance
- C. Split the invoice
- D. Reject the invoice for payment
Answer: B
NEW QUESTION # 29
You need to retrieve the purchase price for purchase costing. Which two of the following programs should you use? (Choose two.)
- A. Purchase Agreement.Open (PPS100)
- B. Supplier.Connect Item (PPS040)
- C. Item.Connect Warehouse (MMS002)
- D. Purchase Costing. Simulate (PPS295)
- E. Item. Open (MMS001)
Answer: A,D
NEW QUESTION # 30
When configuring the supplier master Supplier. Open (CRS620) in Infor M3, another table setup is mandatory. Which one of the following table setups is required?
- A. Supplier. Connect Address (CRS622)
- B. Supplier. Connect Item (PPS040)
- C. Bank Account. Open (CRS692/B)
- D. Supplier. Define Purchase Financial (CRS624)
Answer: D
NEW QUESTION # 31
Which two of the following Cost Accounting Errors exist in Internal Cost Accounting? (Choose two.)
- A. Zero Price error correct
- B. Accounting string error
- C. Rounding differences error
- D. Currency error
Answer: A,C
NEW QUESTION # 32
Which one of the following describes the general accounts receivable setup program?
- A. Settings - Accounts Receivable (ARS905)
- B. Company. Open (MNS095)
- C. Settings - General Ledger (CRS750)
- D. Account Group. Open (CRS633)
Answer: A
NEW QUESTION # 33
The manufacturing order processing flow includes the following four tasks:
1. Production receipt
2. Issue material to manufacturing order
3. Create manufacturing order
4. Report operations
Which one of the following is the correct order in which those tasks should be performed?
- A. 2, 3, 1, 4
- B. 1, 2, 3, 4
- C. 3, 2, 4, 1
- D. 4, 3, 2, 1
Answer: B
NEW QUESTION # 34
You need to add 10% of the net purchase price to the cost of the acquired item, which requires the following four steps:
1. Add the element to the costing model
2. Add a costing value
3. Add the costing model to the item
4. Create a costing element with operator 5
Which one of the following is the correct order in which those tasks should be performed?
- A. 2, 3, 4, 1
- B. 4, 2, 1, 3
- C. 3, 1, 4, 2
- D. 1, 2, 3, 4
Answer: D
NEW QUESTION # 35
Which one of the following Accounts Payable master files is common for all divisions related to a company and needs to be defined in Infor M3?
- A. Bank
- B. Number series
- C. Supplier
- D. User
Answer: C
NEW QUESTION # 36
Which one of the following Financial Application Management (FAM) functions contains most of the workflow options for processing supplier invoices?
- A. AP30
- B. AP20
- C. AP10
- D. AP50
Answer: B
NEW QUESTION # 37
You need to review the standard cost calculation of acquired items. Which one of the following should you use?
- A. CAS310 Order Costing. Display
- B. PCS265 Actual Cost. Update/Display
- C. CAS371 Average Cost. Display/Update History
- D. PCS300 Product Costing. Display
Answer: D
NEW QUESTION # 38
Which one of the following program screens do you use to check the three-way match process agrees to your supplier invoice?
- A. Purchase Order. Receive Goods (PPS300)
- B. Supplier Invoice. Match GR Line (APS360)
- C. Internal Account Entry. Open (CAS300)
- D. Purchase Order. Open (PPS200)
Answer: B
NEW QUESTION # 39
Which one of the following describes what is created in Infor M3 to prepare a list of invoices that are due for payment?
- A. Journal voucher entry
- B. Payment proposal
- C. Invoice proposal
- D. Cost account entry
Answer: B
NEW QUESTION # 40
You want to regularly trigger an automatic check for invoice lines that are not completely matched and have their quantities automatically matched and approved. Which one of the following programs do you use to do this check?
- A. Supplier Invoice.Recode (APS100)
- B. Supplier Invoice.Select Trans to Match (APS351)
- C. Supplier Invoice.Auto Match GL Line (APS375)
- D. Supplier Invoice.Select to Match (APS350)
Answer: A
NEW QUESTION # 41
Which one of the following options describes why you use distribution costing?
- A. To centralize manufacturing and move goods to the customer
- B. To move goods to a vendor
- C. To calculate the company's cost for moving goods internally between warehouses/facilities
- D. To calculate the company's cost for moving goods to the manufacturer
Answer: C
NEW QUESTION # 42
Which one of the following describes the relationship of the Financial Application Management (FAM) functions with the Accounts Payable workflow?
- A. Control some of the workflow
- B. Entirely control the workflow
- C. Permit only single detail records to be attached to the main record
- D. Have nothing to do with the workflow
Answer: D
NEW QUESTION # 43
Which two of the following describe account groups in Infor M3? (Choose two.)
- A. Account group levels determine the order in which accounts within an account group are listed on an income statement of income or balance sheet.
- B. Account groups are defined at the division level but not the company level.
- C. Six levels of account groups exist.
- D. Each account group must be defined as included in the statement of account or the balance sheet.
Answer: A,D
NEW QUESTION # 44
Which one of the following occurs when a cost accounting error occurs?
- A. General ledger balance file is generated
- B. Transactions are stopped from being transferred to the general ledger
- C. Transactions are transferred and flagged in the general ledger
- D. Transaction error log is created in the system
Answer: C
NEW QUESTION # 45
You just ran the Internal Account Entry.Create (CAS950). Which one of the following database files is an internal account entry that is created?
- A. OOLINE
- B. MITBAL
- C. CINACC
- D. MITTRA
Answer: D
NEW QUESTION # 46
Which one of the following General Ledger Financial Accounting Management (FAM) functions do you use for account allocations and accounts distributions?
- A. Unrealized Exchange Rate Variance. Update (GLS160)
- B. A/C Allocation. Update (GLS130)
- C. Period Accounting. Update (GLS140)
- D. Journal Voucher. Update Recurring (GLS175)
Answer: B
NEW QUESTION # 47
Which one of the following options needs to be generated for at least the current year and the next two years and also needs to be generated as far back as the earliest period for which historical data will be entered?
- A. Accounting Identity. Open (CRS630)
- B. Fiscal Year. Periods (GLS986/B)
- C. System Calendar. Open (CRS900)
- D. Period Accounting. Update (GLS140)
Answer: D
NEW QUESTION # 48
You are configuring multi unit coordination (MUC) and defining the invoice number series. Which one of the following needs invoice number series definition?
- A. Only the central (blank) division
- B. Each division included in MUC
- C. Each production warehouse separately in each division
- D. Only one local division
Answer: B
NEW QUESTION # 49
Which two of the following programs need to be checked at Year End and updated? (Choose two.)
- A. CRS400
- B. CRS410
- C. MFS165
- D. MFS240
Answer: B,C
NEW QUESTION # 50
Which two of the following are benefits of Ad Hoc Reporting? (Choose two.)
- A. Integrates with Infor M3's auto jobs to enable reports to run and be delivered to users on an ad hoc basis
- B. Reduces the cost of modifications to Infor M3 standard reports and extra customer-unique reports during and after implementation
- C. Requires minimal training as the tool is built on all the existing standards that exist within Infor M3 and Infor Smart Office
- D. Ensures that Infor M3 users can view everything they want to see
Answer: A,B
NEW QUESTION # 51
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