Microsoft Dynamics 365 Fundamentals Practice Exam

What type of report is prebuilt and included in Dynamics 365 Finance?

1. Custom report

2. Income statement report

3. Statistical report

4. Audit report

The correct answer is: Income statement report

The income statement report is a prebuilt report included in Dynamics 365 Finance, designed to provide users with streamlined insights into their financial performance over a specific period. This report allows users to view revenues, expenses, profits, and other key financial metrics easily, facilitating the analysis of the organization's financial health. In Dynamics 365 Finance, the prebuilt nature of the income statement means that it is readily available for users to generate without requiring time-consuming configurations or setups. This report supports standard accounting practices and can be customized further if needed, but it comes out of the box with the system. While there are other reports within Dynamics 365 Finance, such as custom reports tailored to specific business needs or statistical and audit reports that focus on different aspects of data, none carry the standardized and widely recognized importance of the income statement, making it a fundamental component for most organizations operating within this software environment. The inclusion of an income statement ensures users have immediate access to vital financial information as part of their standard reporting capabilities.