GFEBS Essentials [Subsumes L101E, L201E, L303E] Latest Update 2024-2025 Questions and Verified Correct Answers Guaranteed A+
1.Which of the following is a benefit of GFEBS - CORRECT ANSWER: *A web-based
system
2.The _____ escalated the need for federal financial management systems to provide accurate, reliable, and timely financial management information to the government's
highest levels. - CORRECT ANSWER: *Federal Financial Management Improvement
Act
3.A ____ is a self-contained series of screens that enable a user to complete specific
activities. - CORRECT ANSWER: Request
Transaction
4.Which is NOT a benefit of GFEBS for the Army? - CORRECT ANSWER: It is a non-
integrated system which allows departments to each to have their own database
5.Which data entry field has a check mark in the field? - CORRECT ANSWER:
Required Fields
Conditional Fields
6.Which module is used in GFEBS to track and manage costs for certain projects within
the Army? - CORRECT ANSWER: Spending Chain
Project Systems
7.GFEBS uses the ERP program SAP, which provides _______. - CORRECT
ANSWER: A common data structure
Automated accounting transaction corrections
8.Which of the following is a true statement concerning GFEBS? - CORRECT
ANSWER: GFEBS information is stored in a common relational database.
*GFEBS operates under the same file structure as STANFINS.
GFEBS maintains separate systems for each of its components.
9.Which of the following is NOT an activity of the Asset Accounting sub-process? -
CORRECT ANSWER: Transferring Assets
*Maintaining Master Data 1 / 2
Property Disposal
10.Prior to the implementation of GFEBS, ______ systems were involved in the processing of Real Property. GFEBS subsumed these into a _____ financial solution. -
CORRECT ANSWER: *Multiple; Single
11.Which of the following is a fact concerning Master Data? - CORRECT ANSWER:
Changes very little over time *Is unique for each GFEBS module Stored and maintained at multiple locations
12.GFEBS is the result of: - CORRECT ANSWER: *All of the above
13._______ systems are management information systems that integrate and automate many of the business practices associated with the operations or production
aspects of a company - CORRECT ANSWER: Financial Planning
*Enterprise Resource Planning Exact Return Performance Fundamental Procedure
14.Which of the following activities fall within the Reimbursables business process
area? - CORRECT ANSWER: *All of the above
15.When fully implemented, GFEBS will replace approximately _______ of the current
financial, overlapping and redundant systems. - CORRECT ANSWER: *40 percent
80 percent 100 percent
16.GFEBS strategically supports and improves the current Department of Defense (DoD) Business Enterprise Architecture by providing functionality that supports various business components which include all of the following except: - CORRECT ANSWER: Acquisitions Installations and Environment *Strategic planning and budgeting
17.The _______ business process area reports the financial status of the Army to the
Department of Defense (DoD) and the United States Treasury. - CORRECT ANSWER:
*Financials Business Spending Chain
18.What does the General Fund Enterprise Business System (GFEBS) provide the
Army with? - CORRECT ANSWER: *All of the above
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