SIMULATION
You are a functional consultant for a legal entity named Contoso Group (GLCO).
You plan to sell new products that will increase in quality over time.
You need to implement a solution that uses the Last in, First out (LIFO) inventory model for GLCO.
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Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
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You are configuring the year-end setup in Dynamics 365 Finance.
You need to configure the year-end setup to meet the following requirements:
* The accounting adjustments that are received in the first quarter must be able to be posted into the previous year's Period 13.
* The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.
* All dimensions from profit and loss must carry over into the retained earnings.
* All future and previous periods must have an On Hold status.
Solution:
* Configure General ledger parameters.
- Set the Delete close of year transactions option to No.
- Set the Create closing transactions during transfer option to No.
- Set the Fiscal year status to permanently closed option to No.
* Define the Year-end close template.
- Designate a retained earnings main account for each legal entity.
- Set the Financial dimensions will be used on the Opening transactions option to No.
- Set the Transfer profit and loss dimensions to Close All.
* Set all prior and future Ledger periods to a status of On Hold.
Does the solution meet the goal?

A rental service company hires you to configure their system to implement accrual schemes.
You need to configure the accrual schemes for this company.
Which configuration and transaction options should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

A client observes that some customers are late paying their invoices. The client wants to use the Credit and Collections functionality to send collection letters to customers.
need to configure the system to support collection letter functionality and processing.
In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.

A company makes frequent payments to its vendors by using various due dates and discounts.
You need to set up and create a vendor payment by using a payment proposal.
In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.