Exam MB-310 topic 1 question 98 discussion

HOTSPOT -
A company is implementing Dynamics 365 Finance.
The company must be able to record sales orders in the following currencies: USD. EUR. and GBP.
✑ Company A uses USD as the accounting and reporting currency.
✑ Company B uses GBP as the accounting and reporting currency.
✑ Each company is consolidated into Company CON that uses EUR as the accounting and reporting currency.
Assets and liabilities are revalued at the current exchange rate.
You need to configure the system to meet the requirements.
Which option should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Hot Area:

Suggested Answer:
Box 1: An imported exchange rate for EUR to USD dated yesterday.
If a legal entity has received invoices in foreign currencies, the foreign currency must be converted into the local currency. This means that up-to-date exchange rates for different currencies are required.
Before you can import exchange rates, you must set up the information that is required by the providers who offer the exchange rates. Use the Configure exchange rate providers page to select the exchange rate providers.
Import as of - This parameter manages whether to import as of the current date or for a specific date range. If you want to use a date range, enter or select the start and end dates.
Box 2: Set the Use for financial elimination process to Yes for both legal entities Company A and Company B
The setup for eliminations is found in the Setup area of the Consolidations module. After you enter a description for the rule, you must pick the company that the elimination journal will post to. This should be a company that has Use for financial elimination process selected in the Legal entity setup.
Note: Elimination rules can be set up in the system, and then processed during the consolidation process or through an elimination proposal. The rules can be posted to any company that has Use for financial elimination process selected in the legal entity setup.
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/import-currency-exchange-rates https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/consolidation-elimination-overview