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Oracle Vocab

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. 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.






2. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.






3. 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).






4. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds






5. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines - and fund balances. Can be used for any purpose that is a legal expenditure of County Funds. The Board of Supervisors controls their usage.






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.






7. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.






8. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.






9. Accounts for assets held by government in a trustee capacity for public employement retirement systems.






10. 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






11. One of two classes of projects to be used by the County. Capital projects capture costs ( including depreciation) and revenue associated with the construction or acquisition of infrastructure ( i.e. road improvements bridges - etc) - buildings - othe






12. 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






13. 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.






14. 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.






15. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD






16. 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.






17. Items stocked in an inventory and controlled by tracking the quantity and value of each item. Typically - each item is considered an 'asset' until it is issued or adjusted ( expensed) out of the inventory. The value of the item is equal to the curren






18. The electronic process of mainaining an itemized list of current inventory.






19. 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






20. The difference between budgeted amounts and all actual and anticipated expenditures.






21. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.






22. 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.






23. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.






24. The amount of revenue expected to accrue or to be collected during a fiscal year.






25. An itemized statement of money owed for goods shipped or services rendered






26. 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.






27. Is derived from taxes - licenses - fees - and investment earnings.






28. 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.






29. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.






30. 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






31. An account that contains money set aside for a legaly restricted specifi future use.






32. Units of work that can be broken down into one or more task to capture and related revenue.






33. Budget authority that is set aside when a purchase order or contract is approved. A limitation - reserve or obligations placed on a budget appropriation to pay for good or services that have been ordered by means of contracts - purchase orders - IA -






34. 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).






35. 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.






36. 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.






37. 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.






38. 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 -






39. 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 ).






40. 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






41. 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).






42. 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.






43. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.






44. 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.






45. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.






46. 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






47. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.






48. An accounting device established to control receipts and disbursements set aside to support specific activities.






49. 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.






50. Are established by the Board of Supervisors and include Airports - Wastewater Management and Transit Enterprise Funds - County Sanitation Districts and various Internal Service Funds ( General Services Fleet Maintenance - Facilities Management and Do