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Test your basic knowledge |
Oracle Vocab
Start Test
Study First
Subjects
:
oracle
,
it-skills
Instructions:
Answer 50 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. The difference between a fund's assets and its liabilites. A surplus or deficit of assets over liabilites and reserves within a specific fund or organizational unit. A comparison of projected ependitures and revenues with related appropriations. Port
Fund Balance
Capital Improvement
Force Account
Indirect Cost or Indirect Expense
2. A standard procurement document issued for delivery of specified goods or services on specified dates at specified locations. A PO is normally a one-time transaction.
Cash Basis of Accounting
Capital Assets
Purchase Order
Expenditures
3. A method employed in the constructon and /or maintenance of projects and activities - wherby the County's own personnel are used to perform the services - instead of an outside contractor. This method may also call for the purchase or use of the Coun
Standard Purchase Order
Internal Service Funds
Force Account
Blanket Purchase Agreement
4. A non-asset inventory that has already been expensed to a final use account and is thus carried and tracked as a on hand balance only - with an accounting value of zero.
Blanket Purchase Agreement
Average Balance
Debt Service
Expensed Inventory
5. One or more funds that account for the goods and services provided by one department to another within a government on a cost-reimbursement basis. ( General Services Facilities Management - Fleet Maintenance - and Document Services ISF) will budget a
Grant
Estimated Revenue
Internal Service Fund (ISF)
Asset Inventory
6. Units of work that can be broken down into one or more task to capture and related revenue.
Project
Org.
Fund Balance
Adopted Budget/Operational Plan
7. A promise to repay borrowed money on a particular date - often ten or twenty years in the future; most bonds involve a promise to pay a specified dollar amount of interest at predetermined intervals. Bonds are a mechanism used to obtain long-term fin
Chart of Accounts
Bond
Depreciate
Debt Service
8. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Deficit
Adopted Budget
Expensed Inventory
Overrealized Revenue
9. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Service and Supplies
Asset Inventory
Capital Project Fund
General Fund
10. A fund used to account for the financing of good or services provided by one department to other departments of the County - or to other governmental units - on a cost-reimbursement basis.
Governmental Funds
Internal Service Fund (ISF)
Revenue
Asset Inventory
11. Revenues are recorded when measurable and earned ( rather than when cash is received - and expenses are recognized when a good or service is used( rather thane when payment is made).
Accrual Basis of Accounting
Avoidable Cost
Line-Item Budget
Internal Service Fund (ISF)
12. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Capital Assets
Capital Improvement Plan (CIP)
Debt Service Funds
Encumbrance
13. A unit with budgetary control and/or management responsibilities for financial transactions. Represents the 'cost center'qualifier segment required in Oracle and is at the trasactional level of input( child).
Fiduciary Fund
Contract or Contract Purchase Agreement (CPA)
Internal Service Fund (ISF)
Org.
14. A classification of cost that is assigned to each expenditure items. Expenditure types are grouped into cost groups ( expenditure categories) and revenue groups ( revenue categories).
Grant
Trust Fund
Capital Project Fund
Expenditure Type
15. Accounts for the accumulation for and the payment of general long-term principal and interest.
Inventory Items
Internal Service Fund (ISF)
Deficit
Debt Service Funds
16. A type of purchasing document used to reference POs to a specific contract. It may include terms and conditions - agreed amounts - and an effective and expiration date.
Invoice
Genaral Revenue Allocation
Contract or Contract Purchase Agreement (CPA)
Encumbrance
17. An Inventory carried on accounting records as an asset whose stock items are valued at their unit cost times their quantity on hand - and the stock value is not expensed to a final user account until the material is issued to that user.
Capital Project Fund
Debt Service
Capital Improvement
Asset Inventory
18. Includes the all elements of cost for the production of a good or service - including direct - indirect - and overhead costs. Full cost includes raw costs - plus all apllicable burden costs for raw labor.
Asset Inventory
Full Cost
General Fund
Original Budget
19. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Funds
Depreciation
Reserve
Revenue
20. Those expenses which can be charged directly as a part of the cost of a product or service - or of a department or operating unit ( labor - equipment usage - materials - contractor payments - etc). These labor costs usually include only front-line or
Direct Cost or Direct Expense
General Purpose Revenue
Proprietary Funds
Indirect Cost or Indirect Expense
21. An appropriation used for goods and services ordered and received - whether paid or unpaid - including provisions for debt retirement and capital outlays. Encumbrances do not become expenditures until they are paid.
Deficit
Current Budget
Enterprise Funds
Expenditure
22. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Cost Applied
Current Budget
Overrealized Revenue
Force Account
23. When one department or fund desires services from another department or fund and the department or fund providing the service sgree to a scope of work and an estimated budget and schedule.
Trust Fund
Special Revenue Fund
Line Type
Internal Agreement
24. Accounts for the County's financial resources except those required to be accounted for in another fund.
General Fund
Appropriation
Change Letter
Fiduciary Fund
25. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Cost Budget
Debt Service Funds
Account Segment
Internal Service Fund (ISF)
26. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Activity- Based Costing (ABC)
Commitment
Pension and other employee benefit Trust Fund
27. Fund is an independent fiscla and accounting entity.
Estimated Revenue
Direct Cost or Direct Expense
Grant
Fund
28. Items that are stocked in intentory. Inventory is controlled by quantity and value. Remains an asset until it is consumed. The cost of an intentory items is recognized as an expense when it is consumed or sold.
Service and Supplies
Inventory Item
Capital Project Fund
Proprietary Funds
29. The Board of Supervisors approved an annual spending plan for proprietary funds. The adopted expense estimates are not appropriations - their budgetary controls are the same as those of governments funds.
Raw Cost
Spending Funds
Original Budget
Proprietary Funds
30. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Invoice
Appropriation
Capital Project
Encumbrance
31. The Generally Accepted Accounting Principles( GAAP) promulgated by te Governmental Accountng Standards Board - which guide the recording and reporting of financial information by state and local governments.
Accounting Standards
Full Tim Equivalency (FTE)
Capital Outlay Fund (COA)
General Fund
32. The of the cost of a fixed asset - other than a wasting asset - charged as an expense during a particular period. The cost of a fixed asses less any salvage value is prorated over the estimated service life of such an asset - and each period is charg
Raw Cost
Spending Funds
General Purpose Revenue
Depreciation
33. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Fund
Estimated Revenue
Enterprise Funds
Direct Cost or Direct Expense
34. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Data Warehouse
Fund
Physical Intentory
Capital Improvement
35. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Appropriation
Capital Assets
Reserve
Change Letter
36. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Unanticipated Revenue
Award
Encumbrance
Baseline Budget
37. Enterprise Funds - Internal Service Fund
Debt Service
Capital Improvement Plan (CIP)
Proprietary Funds
Project
38. Those expenses which can be charged directly as a part of the cost of a product or service - or of a department or operating unit - as distiquished from overhead and other indirect costs which most be prorated among several products or services - dep
Award
Direct Expense
Fund
Internal Agreement
39. A type of purchase order that can be issued for delivery of goods or services for specific dates and locations. Each standard purchase order line can have multiple shipments and ca distribute the quantity of each shipment across multiple accounts.
Original Budget
Revenue
Cost Budget
Standard Purchase Order
40. Does not include paid or unpaid leave - work performed on behalf of a busness entity which is required for that entity to fullfil its business purpose.
Funds Available
Productive Time
General Purpose Revenue
Direct Expense
41. The version of the Operations Plan that is formally approved and implemented by the Board of Supervisors after the proposed Operational Plan has gone through a process of Change Letters - public hearing - and deliberations.
Obligation
Cost Budget
Adopted Budget/Operational Plan
Expenditure
42. Assures suppliers that sufficient funds wil be available once the order is filled. Also are known as obligations and commitments - and only become expenditures when paid or when the actual liability is recorded.
Capital Improvement
Special Revenu Fund
Encumbrance
Org.
43. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Direct Cost or Direct Expense
Invoice
Bond
Proprietary Funds
44. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Blanket Purchase Agreement
Internal Service Fund (ISF)
Genaral Revenue Allocation
Asset Management
45. The additional to cash or other current assets of governmental funds( receipts) which do not increase any liability or reserve and do not represent the recovery of an expenditure from services to others ( reimbursements).
Invoice
Revenue
Debt Service Funds
Inventory Items
46. The amount of revenue expected to accrue or to be collected during a fiscal year.
Trust Fund
Estimated Revenue
General Purpose Revenue
Productive Time
47. Assets - which are intended to be held or used for an extended periof of time - such as land - buildings - structures - machinery - furniture - and other equipment. Any piece of equipment costing $5 -000 or more must be purchased as a fixed asset.
Debt Service
Fiduciary Fund
Fixed Asset
Asset
48. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Capital Project
Invoice
Encumbrance Types
Full Tim Equivalency (FTE)
49. A fund used to account for assets held by a government in a trustee capacity for individuals - private organizations - other governments and/or other funds.
Governmental Funds
Expenditure Type
Depreciate
Trust Fund
50. Governmental funds established to accont for financial resources used for the acqusition or construction of major capital facilities ( other than those accounted for in proprietary funds).
Funds Available
Capital Projects Funds
Trust Fund
Project