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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. 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 -
Avoidable Cost
Line-Item Budget
Encumbrance
Preliminary Budget
2. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Fund
Proprietary Funds
Deficit
Standard Purchase Order
3. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Internal Service Funds
Supplier
Change Letter
Project
4. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Depreciate
Bond
Full Tim Equivalency (FTE)
Account
5. 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.
Service and Supplies
General Purpose Revenue
Grant
Invoice
6. 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.
Activity- Based Costing (ABC)
Preliminary Budget
Appropriation
Baseline Budget
7. 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
Purchase Requsition
Fund Balance
Debt Service
Genaral Revenue Allocation
8. An account that contains money set aside for a legaly restricted specifi future use.
Reserve
Revenue
Unanticipated Revenue
General Fund
9. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Asset Inventory
Account Segment
Service and Supplies
Invoice
10. 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.
Line Budget Item
Cost Budget
Encumbrance
Inventory Item
11. 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.
Cash Basis of Accounting
Supplier
Depreciation
Productive Time
12. The electronic process of mainaining an itemized list of current inventory.
Adopted Budget
Funds Available
Asset Management
Estimated Revenue
13. Fund is an independent fiscla and accounting entity.
Expenditures
Cost Applied
Fund
Asset
14. 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
Encumbrance
Blanket Purchase Agreement
Revenue
Service and Supplies
15. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Average Balance
Internal Service Fund (ISF)
Fund
Special Revenue Fund
16. 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
Enterprise Fund
Capital Projects Funds
Pension and other employee benefit Trust Fund
Adopted Budget
17. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Special Revenu Fund
Internal Service Fund (ISF)
Baseline
Program Budget
18. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Debt Service Funds
Commitment
Debt Service Funds
Supplier
19. 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
Org.
Blanket Purchase Agreement
Change Letter
Capital Project
20. 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.
Invoise Types
Revenue
Reserve
Obligation
21. The spread of an assets cost over the time period it is used.
Depreciation
Estimated Revenue
Direct Cost or Direct Expense
Depreciate
22. Trust Fund and Agency Funds
Account Segment
Fiduciary
Physical Intentory
Genaral Revenue Allocation
23. 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.
Reserve
General Purpose Revenue
Fiduciary
Current Budget
24. 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.
Encumbrance
Internal Agreement
Expenditure Type
Release
25. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Debt Service Funds
Indirect Cost of Expense
Full Tim Equivalency (FTE)
Spending Funds
26. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Original Budget
Raw Cost
Contract or Contract Purchase Agreement (CPA)
Encumbrance
27. 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).
Revenue
Cost Applied
Invoice
Program Budget
28. Units of work that can be broken down into one or more task to capture and related revenue.
Capital Project Fund
Project
Activity- Based Costing (ABC)
Fund
29. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Cash Basis of Accounting
Cost Applied
Average Balance
Debt Service
30. 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).
Special Revenue Fund
Org.
Fiduciary Fund
Capital Outlay Fund (COA)
31. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Encumbrance Types
Enterprise Funds
Line Type
Expenditure Type
32. 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
Encumbrance Types
Enterprise Fund
Productive Time
33. 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
Fund
Expenditure Type
Internal Service Fund (ISF)
Asset Inventory
34. 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
Special Revenue Fund
Governmental Funds
Capital Improvement Plan (CIP)
35. 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
Average Balance
Trust Fund
Asset Management
36. The account structure an enterprise uses to record transactions and maintain account balances.
Chart of Accounts
Full Tim Equivalency (FTE)
Supplier
Internal Agreement
37. 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.
Accounting Standards
Revenue
Obligation
Encumbrance
38. 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
Cost Applied
Avoidable Cost
Line-Item Budget
Adopted Budget
39. 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.
Genaral Revenue Allocation
Asset Inventory
Enterprise Funds
Line Type
40. Accounts for the County's financial resources except those required to be accounted for in another fund.
Capital Project
General Fund
Capital Improvement
Depreciation
41. 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.
Change Letter
Expenditure
Release
Account
42. 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).
Line Budget Item
Avoidable Cost
Asset Inventory
Capital Projects Funds
43. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Estimated Revenue
Account Segment
Data Warehouse
Grant
44. The most recently baselined budget version of the budget.
Current Budget
Adopted Budget
Indirect Cost or Indirect Expense
Service and Supplies
45. 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
Contract or Contract Purchase Agreement (CPA)
Capital Project
Asset Inventory
Line Budget Item
46. 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.
Cost Budget
Encumbrance
Fund Balance
Chart of Accounts
47. 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.
Data Warehouse
Adopted Budget
Purchase Order
Capital Project
48. 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
Internal Service Funds
Current Budget
Special Revenu Fund
49. 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.
Line Type
Internal Service Fund (ISF)
Average Balance
Enterprise Fund
50. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Depreciation
Genaral Revenue Allocation
Full Cost
Fixed Asset