GFEBS L413E Financial Reporting UPDATED ACTUAL Exam Questions and CORRECT Answers

GFEBS L413E Financial Reporting
UPDATED ACTUAL Exam Questions and
CORRECT Answers
The Defense Departmental Reporting System (DDRS) takes the GFEBS Trial Balance and
produces the official DoD Financial Statement - CORRECT ANSWER - True


The DDRS Outbound Trial Balance includes Defense Reporting elements - CORRECT
ANSWER - true



The Business Enterprise Information System (BEIS) - CORRECT 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 - CORRECT ANSWER - all of the above


Which of the following statements concerning the Federal Agencies' Centralized Trial-Balance
System (FACTS) is true - CORRECT 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 - CORRECT ANSWER - true


Which of the following are Line Item Reports used by GFEBS Financials - CORRECT
ANSWER - all of the above


Which of the following statements concerning the Government-wide Financial Reporting System
(GFRS) is false - CORRECT ANSWER - GFRS receives the Trial Balance sent by
GFEBS and prepares the Army's external Financial Statements based on the GFEBS Trial
Balance.