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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. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Unanticipated Revenue
Expensed Inventory
Debt Service Funds
Accrual Basis of Accounting
2. 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
Indirect Cost of Expense
Account
Average Balance
3. 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.
Spending Funds
Accrual Basis of Accounting
Capital Improvement
Inventory Items
4. Enterprise Funds - Internal Service Fund
Proprietary Funds
Depreciation
Project
Direct Expense
5. 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.
Pension and other employee benefit Trust Fund
Funds
Activity- Based Costing (ABC)
Direct Expense
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.
Original Budget
Internal Service Fund (ISF)
Commitment
Trust Fund
7. 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
Productive Time
Internal Service Fund (ISF)
Debt Service
Capital Improvement Plan (CIP)
8. The most recently baselined budget version of the budget.
Expenditure Type
Current Budget
Estimated Revenue
Cost Budget
9. Annual principal and interest payments that local government owes on borrowed money.
Internal Agreement
Activity- Based Costing (ABC)
Internal Service Fund (ISF)
Debt Service
10. 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
Productive Time
Enterprise Fund
Asset
Change Letter
11. 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
Avoidable Cost
Fund
Internal Service Fund (ISF)
Internal Service Funds
12. Assets - which are intended to be held or used for an extended periof of time - such as land - buildings - structures - machinery - furniture - and other equipment. Any piece of equipment costing $5 -000 or more must be purchased as a fixed asset.
Fixed Asset
Expenditures
Funds Available
Funds
13. 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.
Full Cost
Grant
General Purpose Revenue
Encumbrance
14. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Line-Item Budget
Supplier
Expensed Inventory
Cost Applied
15. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Invoice
Account
Expensed Inventory
Preliminary Budget
16. 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
Special Revenue Fund
Force Account
Fund
Fixed Asset
17. 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.
Standard Purchase Order
Purchase Order
Full Cost
Internal Service Fund (ISF)
18. 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.
Internal Service Fund (ISF)
Debt Service
Accrual Basis of Accounting
Productive Time
19. 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.
Baseline
Productive Time
Inventory Item
Appropriation
20. 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.
Preliminary Budget
Fund
Project
Fund
21. The amount of revenue expected to accrue or to be collected during a fiscal year.
Debt Service Funds
Estimated Revenue
Expenditure Type
General Purpose Revenue
22. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Capital Project
Line Budget Item
Service and Supplies
Proprietary Funds
23. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Expensed Inventory
General Purpose Revenue
Invoice
Cash Basis of Accounting
24. 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
Fund Balance
Direct Cost or Direct Expense
Capital Improvement Plan (CIP)
Debt Service
25. Is derived from taxes - licenses - fees - and investment earnings.
Invoice
Full Tim Equivalency (FTE)
Fund
Revenue
26. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Capital Project
Capital Project Fund
Fixed Asset
Expenditures
27. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Revenue
Data Warehouse
Enterprise Funds
Depreciation
28. 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 - as distiquished from overhead and other indirect costs which most be prorated among several products or services - dep
Direct Cost or Direct Expense
Direct Expense
Purchase Order
Baseline Budget
29. 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.
Depreciation
Special Revenue Fund
Adopted Budget/Operational Plan
Expenditures
30. 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
Cost Applied
Award
Cost Budget
31. 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
Cost Budget
Adopted Budget
Baseline Budget
32. To approve an award budget for use in reporting and accounting.
Internal Service Fund (ISF)
Average Balance
Reserve
Baseline
33. 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.
Invoice
General Fund
Trust Fund
Spending Funds
34. 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).
Invoice
Special Revenu Fund
Expenditure Type
Release
35. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Service and Supplies
Fixed Asset
Revenue
36. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Purchase Requsition
Encumbrance Types
Account Segment
Original Budget
37. 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.
Purchase Requsition
Fund
Cost Applied
Deficit
38. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Project
Capital Improvement Plan (CIP)
Governmental Funds
Physical Intentory
39. 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.
Estimated Revenue
General Purpose Revenue
Internal Agreement
Capital Budget
40. An itemized statement of money owed for goods shipped or services rendered
Expenditure
Invoice
Award
Asset Management
41. 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.
Accrual Basis of Accounting
Release
Adopted Budget
Capital Outlay Fund (COA)
42. 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
Special Revenu Fund
Capital Project
Internal Service Fund (ISF)
43. 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.
Standard Purchase Order
Internal Service Fund (ISF)
Commitment
Purchase Requsition
44. 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.
Depreciation
Program Budget
Indirect Cost or Indirect Expense
Expenditures
45. A type of purchasing document used to reference POs to a specific contract. It may include terms and conditions - agreed amounts - and an effective and expiration date.
Contract or Contract Purchase Agreement (CPA)
Cash Basis of Accounting
Deficit
Capital Improvement Plan (CIP)
46. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Asset Management
Depreciate
Asset
Expensed Inventory
47. 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).
Activity- Based Costing (ABC)
Change Letter
Overrealized Revenue
Capital Projects Funds
48. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Full Tim Equivalency (FTE)
General Fund
Pension and other employee benefit Trust Fund
Depreciate
49. Trust Fund and Agency Funds
Commitment
Expenditure
Capital Assets
Fiduciary
50. The account structure an enterprise uses to record transactions and maintain account balances.
Fixed Asset
Line Type
Encumbrance
Chart of Accounts