Exam (elaborations)
GFEBS L210E Financials Process Overview Questions and Answers 2023
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GFEBS L210E Financials Process Overview
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GFEBS L210E Financials ProcessOverview
a jv is created when it is necessary to - answer request adjustment of accounting
entries
transfer funds from one gl account to another
Reconciling the Army's cash account with the U.S. Treasury is a critical aspect of
maintaining the Army's General Fund GL and fund balance with the U.S. Treasury -
answer true
Which of the options below provides a uniform COA and technical guidance to be used
in standardizing federal agency accounting? - answer USSGL
None of the above
Activities involved in the Year-End Close sub-process of FI include - answer all of the
above
What organization passes down the business rules for executing the year-end close
tasks? These business rules include policies and cut-off dates - answer HQDA
Which of the following documents are closed out at the end of the year? - answer all
PRs, POs, Open payables w/expiring and canceling funds
The United States Treasury is one of the key financial organizations interacting with
GFEBS by serving as the central bank for all government agencies. - answer true
What system does GFEBS utilize for accounting? - answer the USSGL accounting
numbering system
To correct the error of the disbursement/collection belonging to GFEBS, GFEBS will
match the disbursement/collection with the correct GFEBS invoice or billing document
and perform an internal adjustment, and DCAS will process a 1081 reversal with the
U.S. Treasury and GFEBS. - answer true
GFEBS reconciles the collections and expenditures process through the DCAS on a
daily basis. - answer true
FI is responsible for opening and closing posting periods based upon standing business
rules. The following periods are maintained in GFEBS: - answer all of the above
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