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Oracle Vocab
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oracle
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it-skills
Instructions:
Answer 50 questions in 15 minutes.
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Match each statement with the correct term.
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1. Accounts for the County's financial resources except those required to be accounted for in another fund.
Fund
General Fund
Obligation
Contract or Contract Purchase Agreement (CPA)
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.
Force Account
Award
Preliminary Budget
Capital Project
3. 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
Estimated Revenue
Pension and other employee benefit Trust Fund
Enterprise Funds
Enterprise Fund
4. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Preliminary Budget
Grant
Direct Expense
General Purpose Revenue
5. Annual principal and interest payments that local government owes on borrowed money.
Asset
Capital Outlay Fund (COA)
Internal Service Funds
Debt Service
6. 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
Full Cost
Indirect Cost of Expense
Capital Project
7. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Invoice
Award
Encumbrance Types
Change Letter
8. 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.
Activity- Based Costing (ABC)
General Fund
Capital Budget
Adopted Budget
9. 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.
Chart of Accounts
Indirect Cost of Expense
Capital Budget
Proprietary Funds
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
Supplier
Enterprise Fund
Appropriation
11. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Fiduciary Fund
Expenditure
Funds
Obligation
12. 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.
Indirect Cost of Expense
Purchase Requsition
Adopted Budget/Operational Plan
Special Revenue Fund
13. A five-year list of planned capital projects - developed by the Department of General Services.
Preliminary Budget
Capital Improvement Plan (CIP)
Special Revenue Fund
Service and Supplies
14. 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.
Expenditure
Capital Project
Cash Basis of Accounting
Raw Cost
15. 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
Org.
Data Warehouse
Blanket Purchase Agreement
Internal Service Fund (ISF)
16. 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.
Encumbrance Types
Overrealized Revenue
Enterprise Funds
General Fund
17. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Invoice
Cost Budget
Service and Supplies
General Purpose Revenue
18. 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 ).
Indirect Project
Project
Contract or Contract Purchase Agreement (CPA)
Capital Project
19. Units of work that can be broken down into one or more task to capture and related revenue.
Asset Inventory
Fixed Asset
Project
Capital Improvement Plan (CIP)
20. 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).
Accrual Basis of Accounting
Org.
Service and Supplies
Productive Time
21. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Revenue
Preliminary Budget
Debt Service Funds
Capital Project Fund
22. 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.
Baseline
General Purpose Revenue
Line Type
Average Balance
23. The difference between budgeted amounts and all actual and anticipated expenditures.
Accounting Standards
Commitment
Overrealized Revenue
Funds Available
24. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Invoice
Enterprise Funds
Revenue
Cost Applied
25. 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
Governmental Funds
Proprietary Funds
Inventory Item
26. 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.
Direct Expense
Inventory Item
Change Letter
Cash Basis of Accounting
27. 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
Accrual Basis of Accounting
Fund
Internal Agreement
28. 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
Asset Inventory
Line-Item Budget
Special Revenu Fund
Commitment
29. Contributions or gifts of cash or other assets from another government or agency to be used or expended for a specified purpose - activity or facility.
Encumbrance
Original Budget
Direct Expense
Grant
30. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Standard Purchase Order
Asset Inventory
Special Revenu Fund
Trust Fund
31. An Actual order(sub-order) of goods and services issued against a Blanket Purchase Agreement (BPA) for actual delivery with specified quantities - dates and the accounting information.
Reserve
General Fund
Release
Capital Project
32. 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).
Bond
Special Revenue Fund
Debt Service
Expenditure Type
33. 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.
Debt Service
Depreciate
Productive Time
Fund
34. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Cost Budget
Capital Outlay Fund (COA)
Blanket Purchase Agreement
General Fund
35. 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
Capital Project
Fixed Asset
Full Tim Equivalency (FTE)
Fund
36. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Raw Cost
Proprietary Funds
Internal Service Funds
Obligation
37. 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
Fiduciary Fund
Fund Balance
Capital Assets
Capital Outlay Fund (COA)
38. 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 Type
Line Budget Item
Fund Balance
Indirect Cost of Expense
39. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Internal Service Fund (ISF)
Full Tim Equivalency (FTE)
Account Segment
Grant
40. 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
Chart of Accounts
Enterprise Funds
Expenditure Type
Force Account
41. Fund is an independent fiscla and accounting entity.
Fund
Obligation
Average Balance
Force Account
42. 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.
Commitment
Data Warehouse
Indirect Cost of Expense
Depreciation
43. 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.
Capital Assets
Asset Management
Expenditures
Board of Supervisors
44. 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.
Enterprise Funds
Purchase Order
Funds Available
Asset Inventory
45. 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.
Adopted Budget/Operational Plan
Capital Project Fund
Average Balance
Reserve
46. 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).
Capital Projects Funds
Capital Outlay Fund (COA)
Revenue
Invoice
47. 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
Appropriation
Release
Fiduciary Fund
48. Enterprise Funds - Internal Service Fund
Proprietary Funds
Spending Funds
General Purpose Revenue
Activity- Based Costing (ABC)
49. 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
Blanket Purchase Agreement
Account
Grant
Inventory Items
50. The amount of revenue expected to accrue or to be collected during a fiscal year.
Fund
Estimated Revenue
Debt Service Funds
Org.
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