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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. A payment of money or other assets from one governmental unit to another - from a governmental unit to a not-for-profit agency - or from a not-for-profit agency to a government. Often earmarked for a specific purpose or program.
Grant
Indirect Cost or Indirect Expense
Revenue
Chart of Accounts
2. The account structure an enterprise uses to record transactions and maintain account balances.
Internal Service Fund (ISF)
Depreciation
Asset Inventory
Chart of Accounts
3. 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.
General Purpose Revenue
Internal Service Funds
Invoice
Fixed Asset
4. Accounts for the accumulation for and the payment of general long-term principal and interest.
Overrealized Revenue
Average Balance
Debt Service Funds
Line-Item Budget
5. 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.
Internal Service Fund (ISF)
Full Cost
Governmental Funds
General Purpose Revenue
6. An accounting method is used to allocate the costs associated with an activity to the individuals - groups - or organizations benefiting from that activity. Costs are based on activites rather than accounting data.
Activity- Based Costing (ABC)
Estimated Revenue
Productive Time
Internal Agreement
7. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Account
Preliminary Budget
Fiduciary Fund
General Purpose Revenue
8. Expenditures related to the acquisition - expansion - or rehabilitatin of major fixed assets - such as land - buildings - structures - and certain types of equipment; remodeling/upgrades which improve or enhance the use of an existing facility or spa
Indirect Cost or Indirect Expense
Current Budget
Capital Improvement
Debt Service
9. An anticipated expenditure as indicated by approval of requistion. Oracle Purchasing will send commitments to the General Ledger and Projects and Grants and it will be recorded as an encumbrance type.
Full Tim Equivalency (FTE)
Bond
Depreciate
Commitment
10. A budget Format prescribed by the State Controller. Refers to account and sub-account detail typically provided by revenue source - and objects of expenditures based on the types of goods or services(salaries & benefits - services & supplies - other
Indirect Project
Invoice
Line Budget Item
Purchase Requsition
11. A separate fund established to account for services that are supported primarly by service charges. They are similar to private business enterprise - where the costs of providing goods or services to the general public or to customer departments on a
Internal Agreement
Capital Outlay Fund (COA)
Enterprise Fund
Line Budget Item
12. When the PO is created from the Requisiton in Purchasing. This action then relieves the Commitment encumbrance that was created by the Requsition and creates an Obligation.
Contract or Contract Purchase Agreement (CPA)
Capital Outlay Fund (COA)
Capital Projects Funds
Obligation
13. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Fixed Asset
Average Balance
Asset Inventory
Trust Fund
14. 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
Capital Project Fund
Direct Expense
Enterprise Fund
Asset Management
15. The budget amounts for a project at the first successful Baselining of the project.
Deficit
Funds Available
Original Budget
Asset
16. Trust Fund and Agency Funds
Expenditure
Encumbrance
Fiduciary
Raw Cost
17. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Asset
Account
Capital Projects Funds
Accrual Basis of Accounting
18. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Account Segment
Org.
Genaral Revenue Allocation
Internal Agreement
19. 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.
Depreciation
Preliminary Budget
Asset Inventory
Award
20. An Actual order(sub-order) of goods and services issued against a Blanket Purchase Agreement (BPA) for actual delivery with specified quantities - dates and the accounting information.
Governmental Funds
Line Type
Change Letter
Release
21. 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.
Internal Agreement
Account
Award
Baseline Budget
22. An itemized statement of money owed for goods shipped or services rendered
Invoice
Org.
Capital Project
Overrealized Revenue
23. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Special Revenu Fund
Bond
Special Revenue Fund
Capital Project Fund
24. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Deficit
Commitment
Invoice
Proprietary Funds
25. Appropriations and estimated revenue or an annual spending plan that is adopted by the Board of Supervisors( or the Board acting as the Board of Directors) pursuant to the Goverment Code - which balances revenues and expenditures.
Adopted Budget
Chart of Accounts
Physical Intentory
Capital Outlay Fund (COA)
26. Use of an appropriation to purchse goods and services necessary to carry out the responsibilities of a department or organization. Expenditures are decreases in net financial resources.
Internal Service Funds
Expenditures
General Fund
Fund
27. 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
Fixed Asset
Fund Balance
Preliminary Budget
Enterprise Fund
28. 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).
Special Revenu Fund
Asset Inventory
Expenditure Type
Depreciation
29. 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.
Purchase Order
Invoice
Revenue
Fund
30. 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.
Bond
Inventory Item
Fund
Debt Service
31. 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.
Capital Project Fund
Bond
Current Budget
Expenditure
32. 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.
Fund
Expensed Inventory
Invoice
General Fund
33. The difference between budgeted amounts and all actual and anticipated expenditures.
Board of Supervisors
Funds Available
Standard Purchase Order
Grant
34. The electronic process of mainaining an itemized list of current inventory.
Supplier
Baseline
Asset Management
Grant
35. 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.
Line Type
Capital Assets
Productive Time
Accrual Basis of Accounting
36. Land - improvements to land - buildings - building improvements - vehicles - machinery - equipment - works of art and historical treasures - infrastructure - and all other tangible or intangible assets that are used in operations and that have initia
Special Revenue Fund
Internal Service Fund (ISF)
Activity- Based Costing (ABC)
Capital Assets
37. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Estimated Revenue
Adopted Budget
Depreciation
Cost Applied
38. 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.
Cost Applied
Encumbrance
Board of Supervisors
Contract or Contract Purchase Agreement (CPA)
39. 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
Inventory Items
Enterprise Funds
Direct Cost or Direct Expense
Adopted Budget/Operational Plan
40. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
General Fund
Bond
Preliminary Budget
Cash Basis of Accounting
41. Expiration in the service life of capital assets - other than wasting assets - attributable to wear and tear - deterioration - action of the physical elements - idadequacy - and obsolescence.
Funds
Invoice
Grant
Depreciation
42. 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
Activity- Based Costing (ABC)
Direct Cost or Direct Expense
Proprietary Funds
43. An initial building of the budget using a base year usually the second of the prior year's Operational Plan) for non salary related accounts and recalculated salary and benefits costs based on current positions loaded into BRASS from PeopleSoft.
Productive Time
Average Balance
Adopted Budget/Operational Plan
Preliminary Budget
44. Enterprise Funds - Internal Service Fund
Activity- Based Costing (ABC)
Proprietary Funds
Debt Service
Line Budget Item
45. The most recently baselined budget version of the budget.
General Fund
General Purpose Revenue
Current Budget
Capital Project
46. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Capital Outlay Fund (COA)
General Fund
Contract or Contract Purchase Agreement (CPA)
Data Warehouse
47. Is a written record for goods or services provided or request for payment. A summarized list of charges and other information that is recorded in Account Receivalbe - can be printed - and can be sent to a customer to request payment or reimbursement.
Physical Intentory
Indirect Project
Activity- Based Costing (ABC)
Invoice
48. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Overrealized Revenue
Grant
Fiduciary Fund
Revenue
49. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Direct Expense
Unanticipated Revenue
Commitment
Asset
50. Non-Capital Project. Non productive time as a type of indirect project to track paid time off. Printing - mails - purchasing - contracting - fleet - facilities. and admin projects ( overhead - training - travel - etc ).
Invoise Types
Grant
Average Balance
Indirect Project