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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.
Revenue
Line-Item Budget
Physical Intentory
General Fund
2. 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.
Fund
Expenditures
General Purpose Revenue
Grant
3. 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
Cost Budget
Purchase Requsition
Enterprise Fund
Standard Purchase Order
4. 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
Spending Funds
Governmental Funds
Data Warehouse
5. 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.
Baseline Budget
Revenue
Trust Fund
Invoice
6. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Baseline Budget
Change Letter
Invoice
Internal Service Fund (ISF)
7. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Capital Outlay Fund (COA)
Force Account
Genaral Revenue Allocation
Adopted Budget
8. To approve an award budget for use in reporting and accounting.
Baseline
Invoice
Obligation
Fund
9. 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
Capital Project
Depreciation
Accounting Standards
Capital Assets
10. 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
Funds
Depreciation
Indirect Cost of Expense
Expenditures
11. The spread of an assets cost over the time period it is used.
Debt Service Funds
Account
Depreciation
Depreciate
12. Accounts for the County's financial resources except those required to be accounted for in another fund.
General Fund
Estimated Revenue
Award
Special Revenue Fund
13. 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
Program Budget
Supplier
Bond
Blanket Purchase Agreement
14. An itemized statement of money owed for goods shipped or services rendered
Special Revenu Fund
Invoice
Accounting Standards
Indirect Cost or Indirect Expense
15. 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
Line Budget Item
Fiduciary Fund
Original Budget
Asset
16. 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.
Debt Service Funds
Encumbrance Types
Asset Management
Standard Purchase Order
17. 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
Asset
Enterprise Fund
Program Budget
18. 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
General Purpose Revenue
Estimated Revenue
Productive Time
19. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Estimated Revenue
Purchase Order
Chart of Accounts
Overrealized 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
Force Account
Deficit
Grant
21. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Direct Expense
Account
Blanket Purchase Agreement
Physical Intentory
22. 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
Bond
Accounting Standards
Appropriation
Inventory Items
23. 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.
Asset
Overrealized Revenue
Spending Funds
Line Budget Item
24. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Bond
Trust Fund
Cost Budget
Indirect Project
25. 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.
Productive Time
Encumbrance
Adopted Budget
Debt Service
26. 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.
Inventory Item
Productive Time
Expenditure
Baseline Budget
27. 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
Fund
Enterprise Fund
Commitment
Encumbrance
28. 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
Capital Improvement
Force Account
Fund
Capital Project
29. 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.
Commitment
Direct Cost or Direct Expense
Capital Improvement
Indirect Project
30. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Special Revenue Fund
Spending Funds
Internal Service Funds
Cost Applied
31. A legal authorization to make expenditures or to enter into obligations for specific purposes. An appropriation is usually limited in amount for each department or fund of the County and as to the time when it may be expended - normally only during t
General Purpose Revenue
Baseline Budget
Standard Purchase Order
Appropriation
32. Funds that account for resources that government hold in trust for individuals or other governments. Examples include the Community Services Trust Fund for Developer deposit and School District Funds tha are included in the County Investment Pool.
Encumbrance Types
Invoice
Fiduciary Fund
Debt Service Funds
33. 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
Indirect Cost or Indirect Expense
Fund Balance
Fund
Cost Applied
34. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Program Budget
Line Budget Item
Data Warehouse
Encumbrance Types
35. 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.
Contract or Contract Purchase Agreement (CPA)
Depreciation
Chart of Accounts
Adopted Budget/Operational Plan
36. Annual principal and interest payments that local government owes on borrowed money.
Expenditure
Capital Assets
Debt Service
Standard Purchase Order
37. 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
Direct Expense
Standard Purchase Order
Cost Budget
Capital Project
38. 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
Asset Management
Release
Expenditure
Fund Balance
39. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Capital Outlay Fund (COA)
Expenditure Type
Debt Service Funds
40. An accounting device established to control receipts and disbursements set aside to support specific activities.
Internal Service Fund (ISF)
Governmental Funds
Fund
Capital Project
41. 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
Project
Account
Enterprise Fund
42. 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.
Chart of Accounts
Program Budget
General Fund
Internal Service Fund (ISF)
43. A self-balancing set of accounts.
Force Account
Direct Expense
Fund
Grant
44. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Fund
Invoise Types
Fund
Capital Improvement
45. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
General Purpose Revenue
Activity- Based Costing (ABC)
Proprietary Funds
Encumbrance Types
46. 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.
Standard Purchase Order
Board of Supervisors
Purchase Requsition
Depreciation
47. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Adopted Budget
General Purpose Revenue
Capital Assets
Preliminary Budget
48. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Productive Time
Invoice
Raw Cost
Release
49. 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).
Enterprise Funds
Estimated Revenue
Revenue
Depreciation
50. 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.
General Fund
Proprietary Funds
Asset Management
Adopted Budget