Setting up Office 365 account as Exchange server vs. Outlook.com

I was having mysterious behavior on my Microsoft calendar, so removed that account on my Mac, iPad, and iPhone, then added the account back to all three. I noticed that on my iPad and iPhone both Exchange and Outlook.com appear as options to choose for setting up a new account, but on my Mac the Outlook.com option doesn't appear, just Exchange.

Since my email account provided with my Microsoft Office 365 subscription is @outlook.com, I set up the iPad and iPhone using that choice. Since the Mac only gave me Exchange, I set up my account as an Exchange account. My understanding is that the Outlook.com setup uses IMAP/SMTE protocol instead of Exchange server, but I'm not confident I am correct.

All three appear to be working normally. (Hooray!)

My question is what is the difference from setting up as an Exchange account on Mac and as an Outlook.com account in iOS devices? More importantly, will this lead to more problems in the future because of this inconsistent set-up on my three devices?

Thanks,

Eric