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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. Trust Fund and Agency Funds
Fiduciary
Fund
Account Segment
Encumbrance
2. 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.
Internal Agreement
Capital Improvement Plan (CIP)
Commitment
Inventory Item
3. The difference between budgeted amounts and all actual and anticipated expenditures.
Expenditures
Supplier
Service and Supplies
Funds Available
4. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Baseline Budget
Fund
Fiduciary Fund
Standard Purchase Order
5. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Encumbrance Types
Cost Applied
Average Balance
Adopted Budget/Operational Plan
6. 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.
Indirect Project
Trust Fund
Adopted Budget/Operational Plan
Full Tim Equivalency (FTE)
7. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Revenue
Full Tim Equivalency (FTE)
Standard Purchase Order
Grant
8. 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
Fund
Chart of Accounts
Estimated Revenue
9. 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
Bond
Accrual Basis of Accounting
Release
General Purpose Revenue
10. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Chart of Accounts
Supplier
Line-Item Budget
Change Letter
11. 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
Line Type
Fund Balance
Unanticipated Revenue
Special Revenu Fund
12. 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.
Estimated Revenue
Purchase Order
Full Tim Equivalency (FTE)
General Purpose Revenue
13. 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.
Capital Outlay Fund (COA)
Fiduciary
Asset Inventory
Program Budget
14. 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
Governmental Funds
Service and Supplies
Direct Cost or Direct Expense
Capital Project Fund
15. 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 -
Encumbrance
Accrual Basis of Accounting
Capital Improvement
Original Budget
16. 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
Depreciation
Internal Service Fund (ISF)
Invoise Types
General Fund
17. A self-balancing set of accounts.
Preliminary Budget
Internal Service Funds
Internal Service Fund (ISF)
Fund
18. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Baseline Budget
Line Type
Proprietary Funds
Full Cost
19. 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.
Enterprise Fund
Force Account
Asset
Obligation
20. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Grant
Special Revenu Fund
Unanticipated Revenue
Line-Item Budget
21. An account that contains money set aside for a legaly restricted specifi future use.
Purchase Requsition
Reserve
Original Budget
Adopted Budget
22. 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
Org.
Expenditure Type
Program Budget
23. Enterprise Funds - Internal Service Fund
Proprietary Funds
Capital Projects Funds
Board of Supervisors
Capital Budget
24. 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
General Fund
Capital Project
Capital Project Fund
25. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Physical Intentory
Invoice
Chart of Accounts
Proprietary Funds
26. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Encumbrance
Enterprise Funds
Award
Expensed Inventory
27. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Account Segment
Special Revenu Fund
Physical Intentory
Preliminary Budget
28. The budget amounts for a project at the first successful Baselining of the project.
Spending Funds
Original Budget
Standard Purchase Order
Average Balance
29. 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.
Depreciate
Preliminary Budget
Fixed Asset
General Fund
30. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Invoice
Expenditures
Fund
31. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Capital Budget
Account Segment
Revenue
Supplier
32. The electronic process of mainaining an itemized list of current inventory.
Current Budget
Depreciation
Cost Budget
Asset Management
33. An itemized statement of money owed for goods shipped or services rendered
Invoice
Physical Intentory
Internal Service Fund (ISF)
Board of Supervisors
34. 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.
Encumbrance
Debt Service Funds
Fund
Asset Management
35. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Asset
Capital Improvement Plan (CIP)
Award
Capital Budget
36. 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
Debt Service Funds
Revenue
Depreciation
Debt Service Funds
37. The account structure an enterprise uses to record transactions and maintain account balances.
Internal Agreement
Contract or Contract Purchase Agreement (CPA)
Chart of Accounts
Special Revenu Fund
38. Units of work that can be broken down into one or more task to capture and related revenue.
Cash Basis of Accounting
Project
Baseline Budget
Fund
39. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Invoise Types
Capital Projects Funds
Project
Pension and other employee benefit Trust Fund
40. 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.
Depreciate
Invoice
Expenditure
Baseline Budget
41. 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.
Capital Project
Commitment
Chart of Accounts
Internal Service Funds
42. 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).
Debt Service
Org.
Inventory Items
Internal Service Fund (ISF)
43. 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
Original Budget
Capital Outlay Fund (COA)
Direct Expense
Average Balance
44. 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.
Expensed Inventory
Revenue
Capital Project
Capital Budget
45. 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.
Governmental Funds
Grant
Activity- Based Costing (ABC)
Commitment
46. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Capital Improvement
Reserve
Revenue
47. 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
Depreciate
Proprietary Funds
Capital Project
48. 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
Line-Item Budget
Asset
Project
Data Warehouse
49. Includes the all elements of cost for the production of a good or service - including direct - indirect - and overhead costs. Full cost includes raw costs - plus all apllicable burden costs for raw labor.
Fund
Debt Service
Full Cost
Asset Inventory
50. 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.
Purchase Order
Debt Service
Full Tim Equivalency (FTE)
Internal Service Fund (ISF)