GFEBS L413E Financial Reporting questions and answers 2023
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Course
GFEBS
Institution
GFEBS
GFEBS L413E Financial Reporting questions and answers 2023
The Defense Departmental Reporting System (DDRS) takes the GFEBS Trial Balance and produces the official DoD Financial Statement
True
The DDRS Outbound Trial Balance includes Defense Reporting elements
true
The Business Ent...
GFEBS L413E Financial Reporting questions and answers 2023
The Defense Departmental Reporting System (DDRS) takes the GFEBS Trial Balance and produces the official DoD Financial Statement - answer True
The DDRS Outbound Trial Balance includes Defense Reporting elements - answer true
The Business Enterprise Information System (BEIS) - answer Is an organization in DoD that delivers enterprise business services to enable effective financial management throughout DoD
The Abnormal Balance Report can be run - answer all of the above
Which of the following statements concerning the Federal Agencies' Centralized Trial-
Balance System (FACTS) is true - answer It collects proprietary USSGL account balance information that is used to produce the government-wide consolidated financial statement
GFEBS formats its Trial Balance according to the Government-wide Financial Reporting
System (GFRS) requirements so that the DoD does not need to restructure data to make it GFRS compatible - answer true
Which of the following are Line Item Reports used by GFEBS Financials - answer all of the above
Which of the following statements concerning the Government-wide Financial Reporting
System (GFRS) is false - answer GFRS receives the Trial Balance sent by GFEBS and prepares the Army's external Financial Statements based on the GFEBS Trial Balance.
Which of the following statements concerning Federal Agencies' Centralized Trial-
Balance System (FACTS) II is false - answer FACTS II collects proprietary USSGL account balance information that is used to produce the government-wide consolidated financial statement
GFEBS complies with Standard Financial Information Structure (SFIS) standards by - answer Linking each GFEBS point account to the appropriate SFIS attribute and DoD reporting Chart of Account number
The Standard Financial Information Structure (SFIS) is a standard for categorizing financial information to support financial management and reporting systems with consistency across the DoD. - answer true
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