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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. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Capital Improvement Plan (CIP)
Obligation
Direct Expense
2. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Fund
Overrealized Revenue
Debt Service
Original Budget
3. 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.
Internal Agreement
Encumbrance Types
Cost Budget
Accrual Basis of Accounting
4. A grant - subsidy - revenue agreement - revenue contract - or specific funding which is allocated to an organization for a specific purpose(s) and can be used to fund one or more projects - An award is usually billed or invoiced to a Customer ( i.e.
Award
Original Budget
Account Segment
Obligation
5. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Direct Expense
Depreciate
Change Letter
Account Segment
6. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Full Tim Equivalency (FTE)
Capital Improvement
Contract or Contract Purchase Agreement (CPA)
Fiduciary Fund
7. 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).
Data Warehouse
Debt Service Funds
Revenue
Spending Funds
8. The budget amounts for a project at the first successful Baselining of the project.
Original Budget
Current Budget
Inventory Item
Deficit
9. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Account
Debt Service
Spending Funds
Program Budget
10. 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.
Debt Service
Debt Service Funds
Grant
Invoice
11. 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.
Adopted Budget/Operational Plan
Fund
Expenditures
Capital Project
12. 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).
Physical Intentory
Capital Projects Funds
Internal Agreement
Blanket Purchase Agreement
13. 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
Activity- Based Costing (ABC)
Fund
Supplier
Depreciation
14. 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.
Release
Fixed Asset
Proprietary Funds
Inventory Item
15. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Supplier
Inventory Items
Activity- Based Costing (ABC)
Service and Supplies
16. The difference between budgeted amounts and all actual and anticipated expenditures.
General Purpose Revenue
Change Letter
Internal Service Fund (ISF)
Funds Available
17. 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
Purchase Order
Fund
Account Segment
Force Account
18. 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.
Depreciation
Board of Supervisors
Invoise Types
Special Revenu Fund
19. 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
General Purpose Revenue
Fund
Supplier
Bond
20. 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
Grant
Enterprise Fund
Inventory Items
Fixed Asset
21. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Proprietary Funds
Grant
Funds
Unanticipated Revenue
22. 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
Revenue
Cost Budget
Expenditures
23. 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.
Adopted Budget
Proprietary Funds
Capital Projects Funds
Purchase Order
24. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Cost Budget
Expensed Inventory
Fixed Asset
Invoise Types
25. 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.
Internal Service Funds
Capital Improvement Plan (CIP)
Award
Preliminary Budget
26. 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
Proprietary Funds
Encumbrance Types
Original Budget
27. 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
Account Segment
Inventory Item
Avoidable Cost
Direct Expense
28. 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.
Indirect Cost of Expense
General Purpose Revenue
Encumbrance
Indirect Project
29. To approve an award budget for use in reporting and accounting.
Fixed Asset
Capital Assets
Baseline
Expenditure
30. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Asset
Invoice
Capital Assets
Enterprise Funds
31. Trust Fund and Agency Funds
Encumbrance
Expenditures
Capital Project
Fiduciary
32. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
General Purpose Revenue
Revenue
General Fund
Depreciation
33. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Depreciation
Adopted Budget/Operational Plan
Capital Projects Funds
Proprietary Funds
34. The most recently baselined budget version of the budget.
Revenue
Overrealized Revenue
Current Budget
Reserve
35. 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
Preliminary Budget
Invoice
Org.
36. Fund is an independent fiscla and accounting entity.
Fund
Appropriation
Indirect Cost of Expense
Direct Expense
37. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Accounting Standards
Proprietary Funds
Program Budget
Encumbrance Types
38. 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.
Revenue
Purchase Order
Proprietary Funds
Capital Project
39. An accounting device established to control receipts and disbursements set aside to support specific activities.
General Purpose Revenue
Cost Applied
Proprietary Funds
Fund
40. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Invoise Types
Debt Service Funds
Trust Fund
41. Enterprise Funds - Internal Service Fund
Proprietary Funds
Special Revenue Fund
Line-Item Budget
Asset Management
42. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Data Warehouse
Baseline
Revenue
Cost Applied
43. 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
Raw Cost
Estimated Revenue
Capital Improvement Plan (CIP)
44. 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
Indirect Cost or Indirect Expense
Board of Supervisors
Bond
Cash Basis of Accounting
45. Land - improvements to land - buildings - building improvements - vehicles - machinery - equipment - works of art and historical treasures - infrastructure - and all other tangible or intangible assets that are used in operations and that have initia
Capital Assets
Trust Fund
Estimated Revenue
Commitment
46. 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
Accounting Standards
Revenue
Line-Item Budget
Bond
47. 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 -
Preliminary Budget
Encumbrance
Board of Supervisors
Capital Improvement Plan (CIP)
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
Deficit
Revenue
Depreciation
Adopted Budget/Operational Plan
49. 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.
Raw Cost
Enterprise Fund
Spending Funds
Capital Outlay Fund (COA)
50. 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.
General Fund
Enterprise Fund
Obligation
Debt Service Funds