The answer is Chart of accounts, along with Ledger calendar and Main accounts, as the three core components of the Dynamics 365 Finance General ledger module. Chart of accounts defines the entire account structure and framework for financial reporting, while Main accounts serve as the primary posting accounts for all transactions, and the Ledger calendar establishes the fiscal periods that govern when transactions can be posted. On the Microsoft Dynamics 365 Fundamentals ERP MB-920 exam, this question tests your ability to distinguish General ledger setup elements from transaction processing tools in other modules—a common trap is confusing Payment schedules (used in Payables and Receivables) or Inventory posting profiles (part of Inventory management) with General ledger components. To remember the trio, think of the GL as the financial backbone: the Chart of accounts provides the skeleton, Main accounts are the bones, and the Ledger calendar sets the rhythm of when the bones move.
MB-920 Describe Dynamics 365 Finance Practice Question
This MB-920 practice question tests your understanding of describe dynamics 365 finance. Read the scenario carefully and evaluate each option against the stated constraints before committing to an answer. 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.
Which THREE components are part of the Dynamics 365 Finance General ledger module?
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
✓
Main accounts
Options A, C, and D are correct because Chart of accounts defines the account structure, Ledger calendar defines fiscal periods, and Main accounts are the primary accounts used for posting. Option B is wrong because Payment schedules are used in Accounts payable and Accounts receivable, not General ledger. Option E is wrong because Inventory posting profiles are part of Inventory management.
Key principle: Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
✗
Inventory posting profiles
Why it's wrong here
Inventory posting profiles are part of Inventory management, not General ledger.
✓
Main accounts
Why this is correct
Main accounts are the primary accounts used for posting transactions in General ledger.
Related concept
Read the scenario before looking for a memorised answer.
✓
Ledger calendar
Why this is correct
Ledger calendar defines fiscal periods for the general ledger.
Related concept
Read the scenario before looking for a memorised answer.
✓
Chart of accounts
Why this is correct
Chart of accounts is a core component of General ledger that defines the account structure.
Related concept
Read the scenario before looking for a memorised answer.
✗
Payment schedule
Why it's wrong here
Payment schedules are used for vendor and customer payments, not in General ledger.
Common exam traps
Common exam trap: answer the scenario, not the keyword
Many certification questions include familiar terms but test a specific constraint. Read the exact wording before choosing an answer that is generally true but wrong for this case.
Detailed technical explanation
How to think about this question
This question should be treated as a scenario, not a definition check. Identify the problem, the constraint and the best action. Then compare each option against those facts.
KKey Concepts to Remember
Read the scenario before looking for a memorised answer.
Find the constraint that changes the correct option.
Eliminate answers that are true in general but not in this case.
Use explanations to understand the rule behind the answer.
TExam Day Tips
→Underline the problem statement mentally.
→Watch for words such as best, first, most likely and least administrative effort.
→Review why wrong options are wrong, not only why the correct option is correct.
Key takeaway
Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option.
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. Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option. 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.
Identify which MB-920 exam domain this question belongs to, then review the specific concept being tested. Practise related questions in that domain and focus on understanding why each wrong answer is tempting — not just why the correct answer is right.
Describe Dynamics 365 Finance — This question tests Describe Dynamics 365 Finance — Read the scenario before looking for a memorised answer..
What is the correct answer to this question?
The correct answer is: Main accounts — Options A, C, and D are correct because Chart of accounts defines the account structure, Ledger calendar defines fiscal periods, and Main accounts are the primary accounts used for posting. Option B is wrong because Payment schedules are used in Accounts payable and Accounts receivable, not General ledger. Option E is wrong because Inventory posting profiles are part of Inventory management.
What should I do if I get this MB-920 question wrong?
Identify which MB-920 exam domain this question belongs to, then review the specific concept being tested. Practise related questions in that domain and focus on understanding why each wrong answer is tempting — not just why the correct answer is right.
What is the key concept behind this question?
Read the scenario before looking for a memorised answer.
About these practice questions
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Variation 1. Which THREE components are typically part of the general ledger setup in Dynamics 365 Finance? (Select THREE.)
hard
✓ A.Chart of accounts
✓ B.Main accounts
C.Payment schedule
D.Customer payment journal
✓ E.Financial dimensions
Why A: Option A is correct because chart of accounts is the foundation. Option C is correct because financial dimensions are used for reporting. Option E is correct because main accounts are part of the chart of accounts. Option B is wrong because it is a subledger. Option D is wrong because it is for payments.
Last reviewed: Jun 21, 2026
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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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