- A
The chart of accounts can be shared across multiple legal entities.
In Dynamics 365 Finance, the chart of accounts is typically shared to ensure consistency.
- B
The chart of accounts includes account structures that define valid dimension combinations.
Why wrong: Account structures are separate from the chart of accounts; they define valid combinations of main accounts and dimensions.
- C
Main accounts can be deleted even if they have posted transactions.
Why wrong: Main accounts with transactions cannot be deleted; they must be marked as inactive.
- D
The chart of accounts must be unique for each legal entity.
Why wrong: The chart of accounts is usually shared; it does not have to be unique per legal entity.
- E
The chart of accounts defines the list of main accounts that can be used in the general ledger.
The chart of accounts contains all main accounts, which are the primary accounts for posting.
Quick Answer
The answer is that the chart of accounts defines the list of main accounts used in the general ledger and can be shared across legal entities. This is correct because the chart of accounts in Dynamics 365 Finance serves as the foundational framework for financial reporting, allowing a single, standardized list of main accounts to be reused by multiple legal entities within the same organization. On the MB-920 exam, this concept tests your understanding of shared financial data structures versus entity-specific configurations; a common trap is confusing the chart of accounts with account structures, which instead define valid dimension combinations for transactions. Remember the key distinction: the chart of accounts is the "what" (the list of accounts), while account structures are the "how" (the rules for using them). A helpful memory tip is to think of the chart of accounts as a shared dictionary that every legal entity in the organization can reference, ensuring consistent financial language across the enterprise.
MB-920 Describe Dynamics 365 Finance Practice Question
This MB-920 practice question tests your understanding of describe dynamics 365 finance. This is a configuration task: choose the command set that satisfies every stated requirement. Small differences — like 'secret' vs 'password' or 'transport input ssh' vs 'all' — change whether the answer is correct. After answering, compare your reasoning against the explanation and wrong-answer breakdown below. Once you have made your selection, read the full explanation to reinforce the concept and understand why each distractor is designed to mislead on exam day.
A company is implementing Dynamics 365 Finance and needs to configure the chart of accounts. Which TWO statements are true about the chart of accounts?
Answer choices
Why each option matters
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
The chart of accounts can be shared across multiple legal entities.
Options A and D are correct. The chart of accounts defines the structure of financial accounts, and it can be shared across legal entities. Option B is wrong because main accounts are not deleted if they have transactions. Option C is wrong because account structures define valid combinations, not the chart of accounts itself.
Key principle: NAT direction and interface roles matter as much as the IP address mapping. Inside/outside designation controls which traffic is translated.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✓
The chart of accounts can be shared across multiple legal entities.
Why this is correct
In Dynamics 365 Finance, the chart of accounts is typically shared to ensure consistency.
Related concept
Static NAT maps one inside address to one outside address.
- ✗
The chart of accounts includes account structures that define valid dimension combinations.
Why it's wrong here
Account structures are separate from the chart of accounts; they define valid combinations of main accounts and dimensions.
- ✗
Main accounts can be deleted even if they have posted transactions.
Why it's wrong here
Main accounts with transactions cannot be deleted; they must be marked as inactive.
- ✗
The chart of accounts must be unique for each legal entity.
Why it's wrong here
The chart of accounts is usually shared; it does not have to be unique per legal entity.
- ✓
The chart of accounts defines the list of main accounts that can be used in the general ledger.
Why this is correct
The chart of accounts contains all main accounts, which are the primary accounts for posting.
Related concept
Static NAT maps one inside address to one outside address.
Common exam traps
Common exam trap: NAT rules depend on direction and matching traffic
NAT is not only about the public address. The inside/outside interface roles and the ACL or rule that matches traffic are just as important.
Detailed technical explanation
How to think about this question
NAT questions usually test address translation, overload/PAT behaviour, static mappings and whether the right traffic is being translated. Read the interface direction and address terms carefully.
KKey Concepts to Remember
- Static NAT maps one inside address to one outside address.
- PAT allows many inside hosts to share one public address using ports.
- Inside local and inside global describe the private and translated addresses.
- NAT ACLs identify traffic for translation, not always security filtering.
TExam Day Tips
- Identify inside and outside interfaces first.
- Check whether the scenario needs static NAT, dynamic NAT or PAT.
- Do not confuse NAT matching ACLs with normal packet-filtering intent.
Key takeaway
NAT direction and interface roles matter as much as the IP address mapping. Inside/outside designation controls which traffic is translated.
Real-world example
How this comes up in practice
A cloud solutions architect for a retail company is evaluating services for a new workload. The correct answer here reflects best practice for the specific scenario described — not a general cloud recommendation. NAT direction and interface roles matter as much as the IP address mapping. Inside/outside designation controls which traffic is translated. Cloud exam questions reward reading the constraint carefully: the same technology can be right or wrong depending on the use case.
What to study next
Got this wrong? Here's your next step.
Review the four NAT address types (inside local, inside global, outside local, outside global), PAT port overload, and static vs dynamic NAT use cases. Then practise related MB-920 NAT questions on configuration and troubleshooting.
- →
Describe Dynamics 365 Finance — study guide chapter
Learn the concepts, then practise the questions
- →
Describe Dynamics 365 Finance practice questions
Targeted practice on this topic area only
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FAQ
Questions learners often ask
What does this MB-920 question test?
Describe Dynamics 365 Finance — This question tests Describe Dynamics 365 Finance — Static NAT maps one inside address to one outside address..
What is the correct answer to this question?
The correct answer is: The chart of accounts can be shared across multiple legal entities. — Options A and D are correct. The chart of accounts defines the structure of financial accounts, and it can be shared across legal entities. Option B is wrong because main accounts are not deleted if they have transactions. Option C is wrong because account structures define valid combinations, not the chart of accounts itself.
What should I do if I get this MB-920 question wrong?
Review the four NAT address types (inside local, inside global, outside local, outside global), PAT port overload, and static vs dynamic NAT use cases. Then practise related MB-920 NAT questions on configuration and troubleshooting.
What is the key concept behind this question?
Static NAT maps one inside address to one outside address.
About these practice questions
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Last reviewed: Jun 21, 2026
This MB-920 practice question is part of Courseiva's free Microsoft certification practice question bank. Courseiva provides original exam-style practice questions with explanations, topic-based practice, mock exams, readiness tracking, and study analytics to help learners prepare for the MB-920 exam.
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