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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. Is derived from taxes - licenses - fees - and investment earnings.
Enterprise Fund
Revenue
Invoice
Governmental Funds
2. An account that contains money set aside for a legaly restricted specifi future use.
Org.
Debt Service Funds
Funds Available
Reserve
3. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Board of Supervisors
Program Budget
Line-Item Budget
Governmental Funds
4. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Average Balance
Fiduciary Fund
Productive Time
Proprietary Funds
5. 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.
Invoice
Capital Outlay Fund (COA)
Adopted Budget/Operational Plan
Debt Service Funds
6. With separate revenue - expenditures - and fund balances. A legal independet fiscal and accounting entity - to record its cash and other resources and equties - assets - liabilities - reserves and surplus ( fund balance) as well as its income and exp
Grant
Fund
Invoice
Debt Service
7. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Revenue
Internal Service Fund (ISF)
Cost Applied
Indirect Cost of Expense
8. 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.
Expenditure
Depreciation
Force Account
Internal Agreement
9. 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.
Cost Budget
Adopted Budget
Line Type
Spending Funds
10. 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
Indirect Project
Fund
Chart of Accounts
11. 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
Capital Project Fund
Internal Service Fund (ISF)
Project
Fund Balance
12. Elements of cost necessary in the production of an article of the performance of a services - but an integral part of the finished product or service - such a rent - heat light - supplies - management - second-level supervision. Can refer to Departme
Current Budget
Indirect Cost or Indirect Expense
Purchase Requsition
Pension and other employee benefit Trust Fund
13. 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
Standard Purchase Order
Expenditure
Capital Projects Funds
14. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Activity- Based Costing (ABC)
Capital Projects Funds
Original Budget
Line Type
15. To approve an award budget for use in reporting and accounting.
Capital Outlay Fund (COA)
Force Account
Baseline
Baseline Budget
16. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Indirect Cost or Indirect Expense
Indirect Cost of Expense
Purchase Requsition
Service and Supplies
17. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Change Letter
Service and Supplies
Raw Cost
Funds
18. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Overrealized Revenue
Cost Applied
Adopted Budget/Operational Plan
Full Tim Equivalency (FTE)
19. 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
Debt Service Funds
Force Account
Org.
Board of Supervisors
20. The spread of an assets cost over the time period it is used.
Current Budget
Preliminary Budget
Depreciate
Account
21. The major fund in most government unit - the General Fund accounts for all activities not accounted for in other funds. Most functions such as Public Safety or Health Services and Human Resources are accounted for in the General Fund.
Capital Improvement Plan (CIP)
General Fund
General Purpose Revenue
Fund
22. A spending plan for improvements to or acquisition of land - facilities - and infrastructure. The capital budget balances revenues and expenditures - specifies the sources of revenues - and lists each project or acquisition.
Capital Budget
Depreciation
Enterprise Fund
Spending Funds
23. A five-year list of planned capital projects - developed by the Department of General Services.
Debt Service
General Fund
Capital Project
Capital Improvement Plan (CIP)
24. 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.
Invoice
Baseline Budget
Genaral Revenue Allocation
Standard Purchase Order
25. 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
Internal Agreement
Commitment
Line Budget Item
Revenue
26. 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.
Physical Intentory
Asset
Full Cost
General Fund
27. The financial plan in terms of the costs of activities to be undertaken to achieve specific goals and objectives - which form a department's operational components.
Program Budget
Enterprise Fund
Expensed Inventory
Baseline Budget
28. 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
Trust Fund
Capital Assets
Adopted Budget/Operational Plan
Line-Item Budget
29. The term used for major contsruction projects - the acqusition of land - and the investment in major Capital Assets in the County. The project assets are of significant value and have a useful life of five years or more. Imcude the purchase of land -
Capital Project
Internal Service Funds
Funds
Adopted Budget
30. 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.
Proprietary Funds
Productive Time
Invoice
Org.
31. 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.
Purchase Order
Depreciation
Debt Service Funds
Revenue
32. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Invoise Types
Encumbrance
Asset Inventory
Enterprise Funds
33. The electronic process of mainaining an itemized list of current inventory.
Invoice
Asset Management
Unanticipated Revenue
Revenue
34. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Spending Funds
Invoice
Change Letter
Cost Budget
35. The difference between budgeted amounts and all actual and anticipated expenditures.
Enterprise Funds
Capital Budget
Funds Available
Debt Service Funds
36. 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
Debt Service Funds
Debt Service Funds
Account
37. Contributions or gifts of cash or other assets from another government or agency to be used or expended for a specified purpose - activity or facility.
Direct Expense
Asset Management
Fund Balance
Grant
38. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Debt Service
Encumbrance
Expenditure
Purchase Order
39. A budget format prescribed by the State Controller. Shows activities grouped by functional organization units - such as departments. The term line-items refers to account and sub-account detail typically provided for revenue by source ( e.g property
Line-Item Budget
Capital Project
Direct Expense
Asset Management
40. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Cost Budget
Fund
Cash Basis of Accounting
Release
41. 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.
Overrealized Revenue
Special Revenu Fund
Inventory Item
Trust Fund
42. The amount of direct and indirect costs that would be reduced or eliminated if a service currently provided by County staff were to be provided by contract. These costs are typically include all direct and variable costs - as well as any portions of
Overrealized Revenue
Avoidable Cost
Appropriation
Account Segment
43. A type of Purchase Order that is issued to specify agreed-to prices - delivery periods or other terms for goods or services that will be ordered ( released) for actual delivery later. A BPA is normally issued to cover a long-term agreement period suc
Blanket Purchase Agreement
Activity- Based Costing (ABC)
Capital Project
Inventory Items
44. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Debt Service
Capital Outlay Fund (COA)
Bond
Line-Item Budget
45. A self-balancing set of accounts.
Revenue
Fund
Grant
Blanket Purchase Agreement
46. 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.
Inventory Item
Enterprise Fund
Capital Projects Funds
Direct Cost or Direct Expense
47. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Capital Assets
Estimated Revenue
Physical Intentory
Inventory Item
48. 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.
Bond
Commitment
Debt Service Funds
Avoidable Cost
49. Enterprise Funds - Internal Service Fund
Capital Improvement
Force Account
Proprietary Funds
Indirect Cost of Expense
50. 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.
Special Revenu Fund
Asset Inventory
Line-Item Budget
Cost Applied