GFEBS L410E Introduction to Financials UPDATED ACTUAL Exam Questions and CORRECT Answers

GFEBS L410E Introduction to Financials
UPDATED ACTUAL Exam Questions and
CORRECT Answers
What is a reason code - CORRECT ANSWER - A numerical code that corresponds to the
valid reasons for posting a JV


Which organization serves as the Army's central bank - CORRECT ANSWER - U.S.
Treasury


Which of the following is/are source system(s) that use legacy Lines of Accounting (LOA) data
that are converted into GFEBS Line of Accounting data? - CORRECT ANSWER - Both:
STANFINS and SOMARDS are both source systems that use legacy Lines of Accounting (LOA)
data that are converted into GFEBS Line of Accounting data


Which Trial Balance is sent via interface to the DDRS? - CORRECT ANSWER - The
Trial Balance w/defense reporting elements


Which of the following is responsible for generating the Army's external financial statements and
reports at the end of each period based on the trial balance it receives via interface from GFEBS?
- CORRECT ANSWER - The Financial Reviewer
Defense Departmental Reporting System (DDRS)


Which of the following is the sub-process that takes data posted to the General Ledger and stores
it in a way that allows management to analyze costs from - CORRECT ANSWER - Cost
Management (CM) takes financial data posted to the General Ledger and stores it in a way that
makes it useful for management. CM facilitates internal management accounting functions,
whereas the FI module is more concerned with recording financial data for external reporting
purposes