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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. 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.
Grant
Proprietary Funds
Standard Purchase Order
Fixed Asset
2. The most recently baselined budget version of the budget.
Current Budget
Special Revenue Fund
Force Account
Line Type
3. 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
Debt Service
Supplier
Funds Available
Avoidable Cost
4. 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
Purchase Requsition
Enterprise Funds
Direct Cost or Direct Expense
5. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Baseline
Productive Time
Account
Unanticipated Revenue
6. 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.
Bond
Revenue
Adopted Budget/Operational Plan
Preliminary Budget
7. 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.
Reserve
Award
Estimated Revenue
Current Budget
8. 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.
Average Balance
Spending Funds
Cash Basis of Accounting
Original Budget
9. 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.
Revenue
Spending Funds
Internal Agreement
Org.
10. 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.
Indirect Cost of Expense
Line Budget Item
Board of Supervisors
Capital Improvement Plan (CIP)
11. Units of work that can be broken down into one or more task to capture and related revenue.
Revenue
Project
Fund
Cash Basis of Accounting
12. 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
Invoice
Encumbrance
Average Balance
13. 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
Asset
Direct Cost or Direct Expense
Org.
Internal Service Fund (ISF)
14. 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
Internal Service Funds
Bond
Unanticipated Revenue
Grant
15. 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.
Physical Intentory
Fund
General Fund
Activity- Based Costing (ABC)
16. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Indirect Project
General Fund
Appropriation
Encumbrance Types
17. 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.
Standard Purchase Order
Accrual Basis of Accounting
General Fund
Fiduciary Fund
18. 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
Accounting Standards
Baseline Budget
19. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Fund
Line Type
General Fund
20. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Cost Budget
Award
Fiduciary
Supplier
21. 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.
Capital Projects Funds
Cost Budget
Adopted Budget
Inventory Item
22. 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
Appropriation
Unanticipated Revenue
Proprietary Funds
Direct Expense
23. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Cash Basis of Accounting
Expenditures
Pension and other employee benefit Trust Fund
General Fund
24. Items stocked in an inventory and controlled by tracking the quantity and value of each item. Typically - each item is considered an 'asset' until it is issued or adjusted ( expensed) out of the inventory. The value of the item is equal to the curren
Funds Available
Debt Service Funds
Appropriation
Inventory Items
25. 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.
Accounting Standards
Inventory Items
Expensed Inventory
Revenue
26. A legal authorization to make expenditures or to enter into obligations for specific purposes. An appropriation is usually limited in amount for each department or fund of the County and as to the time when it may be expended - normally only during t
Appropriation
Activity- Based Costing (ABC)
Board of Supervisors
Adopted Budget/Operational Plan
27. 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
Accounting Standards
Purchase Requsition
Encumbrance Types
Internal Service Fund (ISF)
28. 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.
Revenue
Depreciation
Adopted Budget/Operational Plan
Raw Cost
29. 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
Estimated Revenue
Bond
Funds Available
30. The account structure an enterprise uses to record transactions and maintain account balances.
Depreciate
Obligation
Account Segment
Chart of Accounts
31. 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.
Enterprise Fund
Fixed Asset
Invoice
Debt Service
32. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Raw Cost
Depreciate
Depreciation
Invoice
33. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Internal Service Funds
Direct Cost or Direct Expense
Pension and other employee benefit Trust Fund
Depreciation
34. 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
Invoise Types
Average Balance
Grant
35. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Indirect Project
Proprietary Funds
Estimated Revenue
Special Revenue Fund
36. 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.
Obligation
Expenditures
Blanket Purchase Agreement
Capital Project
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.
Deficit
Force Account
Enterprise Fund
Accounting Standards
38. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Debt Service Funds
Baseline Budget
Fund Balance
Asset Inventory
39. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Inventory Item
Internal Agreement
Deficit
Encumbrance Types
40. 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.
Unanticipated Revenue
Asset Management
Org.
Depreciation
41. To approve an award budget for use in reporting and accounting.
Original Budget
Purchase Requsition
Baseline
Cost Applied
42. A fund used to account for assets held by a government in a trustee capacity for individuals - private organizations - other governments and/or other funds.
Proprietary Funds
Enterprise Fund
Trust Fund
Contract or Contract Purchase Agreement (CPA)
43. 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
Cost Applied
Deficit
Enterprise Fund
Capital Assets
44. 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).
Capital Outlay Fund (COA)
Capital Project
Inventory Items
Accrual Basis of Accounting
45. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Inventory Item
Program Budget
Enterprise Funds
Enterprise Fund
46. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Invoise Types
General Fund
Physical Intentory
Data Warehouse
47. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Award
Enterprise Fund
Average Balance
Account
48. 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
Encumbrance
Account Segment
Internal Agreement
49. An account that contains money set aside for a legaly restricted specifi future use.
Standard Purchase Order
Inventory Item
Reserve
Line Budget Item
50. 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 Funds
Standard Purchase Order
Org.
Line Budget Item