GFEBS EXAM QUESTIONS WITH CORRECT ANSWERS

GFEBS EXAM QUESTIONS WITH CORRECT
ANSWERS

Objectives |for |GFEBS |Implementation |- |CORRECT |ANSWER✔✔-1. |Enable |the |automation |and |
integration |of |the |majority |of |the |Army's |business |processes.
|




2. |Use |of |common |data |and |business |practices |across |the |Army |and |throughout |DoD |by |using |
the |Standard |Financial |Information |Structure |(SFIS) |to |standardize |data.
|




3. |Enable |users |to |produce |and |access |information |in |a |real-time |environment.



systems |replaced |- |CORRECT |ANSWER✔✔-two |major |systems |replaced |were |the |Standard |
Finance |System |(STANFINS) |and |the |Standard |Operation |and |Maintenance |Army |Research |and |
Development |System |(SOMARDS).



L. |3 |- |SDRN |- |CORRECT |ANSWER✔✔-Standard |document |reference |number



SFIS |- |CORRECT |ANSWER✔✔-Standard |Financial |Information |Structure |(SFIS



sfis |PLUS |gfebs |ALLOWS |- |CORRECT |ANSWER✔✔-The |use |of |SFIS |within |GFEBS |facilitates |end-
to-end |connection |of |key |business |activities |and |provides: |


|

, •a |means |to |record |and |track |auditable |financial |information |



•a |basis |for |conducting |sound |financial |analysis |



•timely |and |reliable |executive |decision |support



Funds |Management |- |CORRECT |ANSWER✔✔-Includes |budget |authority, |fund |allocation, |
maintaining |funds |availability, |performing |funds |analysis, |budgetary |accounting, |and |
generating |reports



Cost |Management |- |CORRECT |ANSWER✔✔-Includes |capturing |cost |accounting |data, |
performing |cost |assignment, |cost |accumulation, |revenue |accumulation, |cost |monitoring, |and |
generating |reports.



Financials |- |CORRECT |ANSWER✔✔-Includes |maintaining |the |chart |of |accounts |and |transaction |
posting |rules, |recording |Journal |Voucher |entries, |posting |transactions |to |the |General |Ledger |
and |performing |period |end |closing.



Reimburseables |- |CORRECT |ANSWER✔✔-ncludes |functions |related |to |the |generation |of |
revenue |and |billing |for |reimbursable |orders, |and |debt |management.



Spending |Chain |- |CORRECT |ANSWER✔✔-Includes |functions |related |to |purchase |requisitions, |
purchase |orders, |goods |receipts, |invoice |receipts, |and |payments. |GPC |andMIPR



Property, |Plant |and |Equipment |- |CORRECT |ANSWER✔✔-Includes |functions |related |to |Plant |
Maintenance, |Real |Property, |asset |accounting, |and |Project |Systems.



Asset |accounting |- |CORRECT |ANSWER✔✔-•Maintaining |Asset |Master |Data