MB-920 Describe Dynamics 365 Finance Practice Question
Which THREE features are available in Dynamics 365 Finance to support compliance with International Financial Reporting Standards (IFRS)?
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
✓
Revenue recognition schedules for deferred revenue
Options A, B, and C are correct. Dynamics 365 Finance supports revenue recognition schedules (A) for deferred revenue under IFRS 15, multi-currency accounting with exchange rate adjustments (B) for IAS 21, and depreciation profiles (C) for IAS 16. Option D (vendor collaboration portal) is a procurement feature unrelated to IFRS compliance. Option E (budget control) is for internal management, not external financial reporting standards.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✓
Revenue recognition schedules for deferred revenue
Why this is correct
IFRS 15 requires revenue recognition over time.
- ✓
Multi-currency accounting with exchange rate adjustments
Why this is correct
IFRS requires reporting in functional currency with translation.
- ✓
Depreciation profiles for different asset types
Why this is correct
IAS 16 requires systematic depreciation.
- ✗
Vendor collaboration portal
Why it's wrong here
Vendor collaboration is not related to IFRS compliance.
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Budget control for expenditure limits
Why it's wrong here
Budget control is not a GAAP/IFRS requirement.
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