MB-920 Chart of accounts Practice Question
Which THREE components are typically part of the general ledger setup in Dynamics 365 Finance? (Select THREE.)
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
✓
Chart of accounts
Options A, B, and E are correct. The chart of accounts (A) is the foundational structure for organizing financial accounts. Main accounts (B) represent individual accounts within the chart of accounts, such as cash or revenue. Financial dimensions (E) provide additional segmentation for reporting, like department or cost center. Option C (Payment schedule) is used for vendor payments and is not part of the general ledger setup. Option D (Customer payment journal) is a subledger journal for recording customer payments, not a component of the general ledger setup.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✓
Chart of accounts
Why this is correct
Correct. The chart of accounts is the foundation of the general ledger.
- ✓
Main accounts
Why this is correct
Correct. Main accounts are part of the chart of accounts and are essential for general ledger setup.
- ✗
Payment schedule
Why it's wrong here
Incorrect. Payment schedule is used in accounts payable, not as part of the general ledger setup.
- ✗
Customer payment journal
Why it's wrong here
Incorrect. Customer payment journal is a subledger journal, not part of the general ledger setup.
- ✓
Financial dimensions
Why this is correct
Correct. Financial dimensions provide additional analysis and reporting capabilities within the general ledger.
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