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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.
Invoice
Revenue
General Purpose Revenue
Line Budget Item
2. 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.
General Purpose Revenue
Overrealized Revenue
Capital Improvement
Preliminary Budget
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
Enterprise Fund
Grant
Depreciation
Debt Service
4. The amount of revenue expected to accrue or to be collected during a fiscal year.
Capital Project Fund
Estimated Revenue
Fund
Direct Cost or Direct Expense
5. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Line Type
Capital Budget
Fund Balance
Capital Improvement
6. 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
Fixed Asset
Purchase Order
Adopted Budget
7. 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
Indirect Project
Line-Item Budget
Debt Service Funds
Activity- Based Costing (ABC)
8. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Encumbrance
Governmental Funds
Invoise Types
General Fund
9. 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.
Invoice
Fund
Full Tim Equivalency (FTE)
Obligation
10. 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.
Funds
Inventory Item
Expensed Inventory
Encumbrance
11. The spread of an assets cost over the time period it is used.
Depreciate
Debt Service
Fund
Pension and other employee benefit Trust Fund
12. 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
Depreciate
Direct Cost or Direct Expense
Asset Management
13. The most recently baselined budget version of the budget.
Current Budget
Release
Governmental Funds
Adopted Budget/Operational Plan
14. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Org.
Adopted Budget
Genaral Revenue Allocation
Capital Project
15. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Grant
Invoice
Expenditure
Invoise Types
16. 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.
Release
Adopted Budget
Internal Agreement
Capital Project
17. Those elements of cost necessary in the production of an article or the performance of a service but no an integral part of the finished product or service - such as rent - heat - light - supplies - management - supervision - etc.
Cash Basis of Accounting
Indirect Cost of Expense
Fund
Capital Assets
18. The account structure an enterprise uses to record transactions and maintain account balances.
Supplier
Full Cost
Asset Management
Chart of Accounts
19. As a political subdivision of the State of California - the County is governed by a five- member Board of Supervisor - which has legislative and executed authority. Each member of the Board of Supervisors is elected by geographic district.
Release
Full Tim Equivalency (FTE)
Board of Supervisors
Line-Item Budget
20. 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.
Debt Service Funds
Special Revenu Fund
Activity- Based Costing (ABC)
Fiduciary Fund
21. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Funds Available
Enterprise Funds
Blanket Purchase Agreement
Invoice
22. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Invoise Types
Debt Service
Expenditures
Account
23. An account that contains money set aside for a legaly restricted specifi future use.
Asset Management
Release
Reserve
Baseline
24. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Debt Service
Line Type
Capital Project
Deficit
25. 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
Inventory Items
Accounting Standards
Depreciation
Contract or Contract Purchase Agreement (CPA)
26. 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.
Enterprise Funds
Fixed Asset
Grant
Program Budget
27. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Purchase Requsition
Fund
Deficit
Unanticipated Revenue
28. 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).
Org.
Estimated Revenue
Grant
Unanticipated Revenue
29. An itemized statement of money owed for goods shipped or services rendered
Force Account
Internal Service Fund (ISF)
Invoice
Direct Expense
30. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Purchase Requsition
Depreciation
Full Cost
Internal Service Funds
31. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Account Segment
General Fund
Data Warehouse
Activity- Based Costing (ABC)
32. 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.
Debt Service
Capital Project
Expenditure
Fund Balance
33. 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
Encumbrance
Special Revenue Fund
Appropriation
Debt Service Funds
34. 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.
Governmental Funds
Supplier
Capital Budget
Estimated Revenue
35. 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
Avoidable Cost
Internal Service Fund (ISF)
General Purpose Revenue
Bond
36. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
General Purpose Revenue
Cost Applied
Cash Basis of Accounting
Appropriation
37. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Revenue
Line Type
General Purpose Revenue
Full Cost
38. Units of work that can be broken down into one or more task to capture and related revenue.
Fund Balance
Estimated Revenue
Project
Purchase Order
39. 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.
Full Cost
Debt Service Funds
Release
Indirect Project
40. 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.
Special Revenue Fund
Cost Applied
Contract or Contract Purchase Agreement (CPA)
Purchase Order
41. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Direct Expense
Grant
Special Revenue Fund
Line-Item Budget
42. 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.
Account Segment
Depreciation
Board of Supervisors
Cost Applied
43. 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.
Genaral Revenue Allocation
Asset Management
Accounting Standards
Direct Cost or Direct Expense
44. 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
Special Revenu Fund
Invoice
Supplier
Capital Improvement
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).
Purchase Order
Revenue
Funds
Productive Time
46. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Pension and other employee benefit Trust Fund
Org.
Unanticipated Revenue
Capital Project Fund
47. 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
Capital Improvement Plan (CIP)
Depreciate
Internal Service Funds
Line Budget Item
48. 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
Depreciation
Bond
Internal Service Funds
Revenue
49. 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
Productive Time
Capital Assets
Bond
50. 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).
Capital Budget
Award
Expenditure Type
Depreciate