UPDATED GCSS-Army Finance (Sustainment) VERIFIED 100% Solutions Test Questions REVISED 2023/2024

1. Financial Management tasks that are carried out in GCSS-Army fall under which of the following categories: - ANSWER d. All of the above 2. The amount of an order placed, contract awarded, service received, or other transaction which legally reserves a specific amount of an appropriation or fund for a future expenditure is defined as a(n): - ANSWER b. Obligation 3. An organizational unit of responsibility where costs can accumulate and be reported is known as a(n): - ANSWER a. Funds Center 4. True or False? The GCSS-Army term for an organization that is authorized to receive funding is known as the Fund Center. - ANSWER a. True 5. Which of the following is an example of how Finance affects Spending Chain events? - ANSWER b. Finance ensures that budget is available for purchase requisitions 6. The reason(s) for maintaining the DoDAAC's account assignment table by creating customer fund codes (CFCs) is/are to: - ANSWER d. All of the above 7. The correct sequence of events for making budget available for execution is: - ANSWER c. Verify that the budget has come in from GFEBS, maintain the DoDAAC's account assignment tables, and then communicate the CFCs to the Logisticians 11. A goods receipt for all materials on a Purchase Order has been posted to GCSS- Army. The amount of the PO now appears in which column on a non-cumulative status of funds report? - ANSWER b. Expense 12. Monitoring obligations is an important part of monitoring budget execution. The contents of the Obligation column on a non-cumulative status of funds report contains which of the following? - ANSWER d. All open Purchase Orders 13. Which of the following causes an unmatched transaction? - ANSWER c. The Interfund Bill cannot be matched to a document in GCSS-Army 14. An alphanumeric code created by Finance in GFEBS that represents a mission or operation, an external customer, or other source of costs is known as __________? - ANSWER d. Fund Identification Code 15. Army supply depots, warehouses, supply support activities (SSAs) and the like that furnish operating supplies and parts for tactical equipment repairs to Army organizations are known as __________? - ANSWER c. Distribution Centers 16. True or False? A reservation is a request to keep a material ready for issue at a future date for a specified purpose. This is to ensure that a material is available when required. - ANSWER b. False 17. Criteria set in GCSS-Army by each Command that determine under which circumstances a purchase requisition must be approved is known as __________? - ANSWER c. Release Strategy 8. What should you do if you see incorrect Customer Fund Codes in ZPARK? - ANSWER c. Correct the CFCS and communicate the corrected CFCS to the Logisticians 9. Purchase Requisitions become commitments when they are __________. - ANSWER a. Posted