GCSS-Army Finance (Sustainment) Exam With Complete Solutions @ 2024

GCSS-Army Finance (Sustainment) Exam With Complete Solutions @ 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 f or 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 con tains 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