a jv is created when it is necessary to ✔✔request adjustment of accounting entries
transfer funds from one gl account to another
Reconciling the Army's cash account with the U.S. Treasury is a critical aspect of mainta
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a jv is created when it is necessary to ✔✔request adjustment of accounting entries
transfer funds from one gl account to another
Reconciling the Army's cash account with the U.S. Treasury is a critical aspect of maintaining
the Army's General Fund GL and fund balance with the U.S. Treasury ✔✔true
Which of the options below provides a uniform COA and technical guidance to be used in
standardizing federal agency accounting? ✔✔USSGL
None of the above
Activities involved in the Year-End Close sub-process of FI include ✔✔all of the above
What organization passes down the business rules for executing the year-end close tasks? These
business rules include policies and cut-off dates ✔✔HQDAWhich of the following documents are closed out at the end of the year? ✔✔all PRs, POs, Open
payables w/expiring and canceling funds
The United States Treasury is one of the key financial organizations interacting with GFEBS by
serving as the central bank for all government agencies. ✔✔true
What system does GFEBS utilize for accounting? ✔✔the USSGL accounting numbering system
To correct the error of the disbursement/collection belonging to GFEBS, GFEBS will match the
disbursement/collection with the correct GFEBS invoice or billing document and perform an
internal adjustment, and DCAS will process a 1081 reversal with the U.S. Treasury and GFEBS.
✔✔true
GFEBS reconciles the collections and expenditures process through the DCAS on a daily basis.
✔✔true
FI is responsible for opening and closing posting periods based upon standing business rules.
The following periods are maintained in GFEBS: ✔✔all of the aboveTo prepare a JV manually in GFEBS, you must simply enter journal header information.
✔✔false
GFEBS sends outbound financial data to support financial external reporting at the end of the
period-end close activities. Where does GFEBS send a trial balance to, which meets the SFIS
standard for categorizing financial information? ✔✔ddrs
obm
What process is carried out at the end of the month to close out accounts and ensure that the
Army's General Fund GL accurately reflects the financial status of the Army for that month?
✔✔period-end close
To ensure that accounting transactions have in fact been properly recorded across the entire
Army, each business process area needs to perform a complete review of unliquidated
obligations and certify that all accounting transactions have been recorded. ✔✔true
In what situations would you request to create, modify, or block a GL account? ✔✔all of the
aboveWhich below is an electronic document that notifies the Treasury of a cash correction within
GFEBS? ✔✔both a JV and a 1081
A JV is created when it is necessary to ✔✔create a GL point
request adjustment
transer funds
One of the GFEBS guidelines for JVs states that journal entries should identify the original
amount of money involved in the transaction and include an explanation for the adjustment
✔✔true
How does the Army manage the General Fund GL ✔✔all of the above
The United States Congress is one of the key financial organizations interacting with GFEBS by
its role of appropriating funds through the yearly budget ✔✔true
A JV is created when it is necessary to make a current period adjustment ✔✔true
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