MB-920 Describe Dynamics 365 Finance Practice Question
Which TWO account types are commonly used in the chart of accounts in Dynamics 365 Finance? (Choose two.)
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
✓
Profit and loss accounts.
Options C and D are correct. Profit and loss accounts and balance sheet accounts are the two main account types in a standard chart of accounts for Dynamics 365 Finance. Option A is incorrect because statistical accounts are used for non-financial data, not as primary account types. Option B is incorrect because budget accounts are separate from the chart of accounts and used for budgeting purposes. Option E is incorrect because reporting accounts are not a standard account type in the chart of accounts.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✗
Statistical accounts.
Why it's wrong here
Statistical accounts are for non-financial data.
- ✗
Budget accounts.
Why it's wrong here
Budget accounts are not part of the chart of accounts.
- ✓
Profit and loss accounts.
Why this is correct
Profit and loss accounts track revenues and expenses.
- ✓
Balance sheet accounts.
Why this is correct
Balance sheet accounts track assets, liabilities, and equity.
- ✗
Reporting accounts.
Why it's wrong here
Reporting accounts are not a standard account type.
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