No, if the application was compiled against the desktop framework it will
not work on the device. The reverse may be possible assuming your code
doesn't call into any device specific functionality e.g. System.Net.Irda etc
or P/Invokes.
In most cases it's impractical to use the same exe on all platforms, it can
make sense to share your logic in a dll (built as a .NETCF project) and then
have two different exes to provide platform specific UI.
Peter