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Test your basic knowledge |
Oracle Vocab
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Subjects
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oracle
,
it-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. 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
Capital Project
Indirect Cost or Indirect Expense
Fund
Line Budget Item
2. 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.
Revenue
Capital Project
Program Budget
Award
3. An internal request for goods or services. A requisiton can originate from an employee or from another process. Each requition can include many lines - generally with a distict item on each requisition line.
Unanticipated Revenue
Purchase Requsition
Baseline
Governmental Funds
4. An account that contains money set aside for a legaly restricted specifi future use.
Encumbrance
Debt Service Funds
Reserve
Capital Project Fund
5. The difference between budgeted amounts and all actual and anticipated expenditures.
Funds Available
Proprietary Funds
Depreciation
Account
6. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Asset
Debt Service
Expenditure Type
Proprietary Funds
7. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Grant
Commitment
Data Warehouse
Supplier
8. 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
Debt Service Funds
Capital Project
General Fund
Blanket Purchase Agreement
9. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Invoice
Internal Agreement
Expenditure
Revenue
10. 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 -
Inventory Item
Reserve
Program Budget
Encumbrance
11. To approve an award budget for use in reporting and accounting.
Cash Basis of Accounting
Expenditures
Original Budget
Baseline
12. 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
Internal Service Funds
Deficit
Internal Service Fund (ISF)
Raw Cost
13. 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.
Raw Cost
Adopted Budget
Board of Supervisors
Proprietary Funds
14. The account structure an enterprise uses to record transactions and maintain account balances.
Current Budget
Internal Service Fund (ISF)
Indirect Cost of Expense
Chart of Accounts
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
Debt Service
Fiduciary
Capital Project
16. 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.
Capital Project
Direct Expense
Capital Projects Funds
Invoice
17. 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.
Accounting Standards
Current Budget
Adopted Budget
Internal Service Fund (ISF)
18. 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.
Account Segment
Expenditure
General Purpose Revenue
Governmental Funds
19. 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.
Line Type
Commitment
Purchase Requsition
Expensed Inventory
20. 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.
Enterprise Fund
Force Account
Accrual Basis of Accounting
Standard Purchase Order
21. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Contract or Contract Purchase Agreement (CPA)
Unanticipated Revenue
Enterprise Funds
Cost Applied
22. 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.
Capital Assets
Spending Funds
Revenue
Fund
23. 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
Direct Expense
Debt Service
Contract or Contract Purchase Agreement (CPA)
Fund Balance
24. 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.
Fund
Release
Fund Balance
Capital Budget
25. 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.
Expensed Inventory
Debt Service Funds
Expenditure Type
Revenue
26. Annual principal and interest payments that local government owes on borrowed money.
Genaral Revenue Allocation
Encumbrance Types
Debt Service
Expensed Inventory
27. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Genaral Revenue Allocation
Internal Service Fund (ISF)
Indirect Project
Depreciation
28. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Funds Available
Blanket Purchase Agreement
Cost Applied
29. 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.
Data Warehouse
Force Account
Deficit
Productive Time
30. 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.
General Purpose Revenue
Data Warehouse
Fiduciary Fund
Direct Expense
31. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Adopted Budget/Operational Plan
Change Letter
Encumbrance
Capital Improvement
32. The budget amounts for a project at the first successful Baselining of the project.
Purchase Order
Original Budget
Invoice
Depreciate
33. Accounts for the accumulation for and the payment of general long-term principal and interest.
Depreciate
Fiduciary
Debt Service Funds
Account
34. A self-balancing set of accounts.
Program Budget
Fund
Expensed Inventory
Account
35. 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
Capital Improvement
Enterprise Funds
Asset Management
Debt Service
36. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Encumbrance
Account Segment
Reserve
Average Balance
37. 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
Trust Fund
Funds Available
Capital Project Fund
38. 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
Funds
Capital Projects Funds
Direct Cost or Direct Expense
Org.
39. Units of work that can be broken down into one or more task to capture and related revenue.
Capital Project Fund
Estimated Revenue
Project
Spending Funds
40. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Asset
Trust Fund
Account
Commitment
41. 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.
Spending Funds
Force Account
Fund
Asset Inventory
42. An itemized statement of money owed for goods shipped or services rendered
Adopted Budget/Operational Plan
Obligation
Adopted Budget
Invoice
43. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Expenditures
Award
Baseline Budget
Asset
44. 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).
Fixed Asset
Deficit
Blanket Purchase Agreement
Revenue
45. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Direct Expense
Raw Cost
Trust Fund
Program Budget
46. 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
Cost Budget
Trust Fund
Invoice
Depreciation
47. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Revenue
General Purpose Revenue
Proprietary Funds
Baseline Budget
48. 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.
Current Budget
Expenditures
Adopted Budget/Operational Plan
Debt Service Funds
49. 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
Current Budget
Line-Item Budget
Capital Project
Debt Service Funds
50. 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
Expenditures
Overrealized Revenue
Indirect Cost or Indirect Expense
Blanket Purchase Agreement
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