Combine mushroom soup, beef broth, 1 cup French Fried Onions, water and sherry. Bring to a boil over medium-high heat, stirring often. Reduce heat to low; simmer 15 minutes, stirring occasionally.
Preheat broiler. Place bread on a baking sheet. Combine oil and garlic in small bowl. Brush oil over both sides of bread slices. Broil bread until toasted and crisp, turning once.
Ladle soup into 4 broiler-safe bowls. Place 1 slice of bread in each bowl. Sprinkle evenly with cheese and 1/3 cup onions. Set bowls on baking sheet. Place under broiler about 1 minute or until cheese is melted and onions are golden.
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