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GFEBS L413E Financial Reporting Questions and Answers Graded A+ 2023
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GFEBS L413E Financial Reporting
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GFEBS L413E Financial ReportingThe 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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