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Oracle Vocab
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Subjects
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oracle
,
it-skills
Instructions:
Answer 50 questions in 15 minutes.
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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 authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Revenue
Governmental Funds
Funds Available
Baseline Budget
2. The difference between budgeted amounts and all actual and anticipated expenditures.
Internal Service Funds
Commitment
Trust Fund
Funds Available
3. 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.
Obligation
Deficit
Grant
Enterprise Fund
4. 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.
Internal Service Fund (ISF)
Fixed Asset
Expenditures
Invoice
5. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Force Account
Account
Full Cost
Obligation
6. 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.
Inventory Items
Encumbrance
Capital Project
Asset Inventory
7. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Full Tim Equivalency (FTE)
Direct Expense
Average Balance
Baseline Budget
8. Accounts for the County's financial resources except those required to be accounted for in another fund.
Capital Project
General Fund
Invoice
Purchase Order
9. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Accounting Standards
Physical Intentory
Grant
Governmental Funds
10. 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.
Indirect Cost of Expense
Fixed Asset
Expenditures
Governmental Funds
11. The amount of revenue expected to accrue or to be collected during a fiscal year.
Bond
Line Budget Item
Estimated Revenue
Unanticipated Revenue
12. 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
Special Revenu Fund
Grant
Depreciation
Fund Balance
13. 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
Productive Time
Depreciation
General Fund
Release
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 - as distiquished from overhead and other indirect costs which most be prorated among several products or services - dep
Expenditure
Board of Supervisors
Direct Expense
Force Account
15. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Expenditure Type
Internal Service Funds
Purchase Requsition
Pension and other employee benefit Trust Fund
16. 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
Fund
Fund
Full Tim Equivalency (FTE)
17. Annual principal and interest payments that local government owes on borrowed money.
General Fund
Debt Service
Enterprise Fund
General Fund
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 ).
Enterprise Funds
Indirect Cost or Indirect Expense
Indirect Project
Obligation
19. 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
Direct Expense
Direct Cost or Direct Expense
Indirect Project
Enterprise Fund
20. 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.
Trust Fund
Capital Project Fund
Enterprise Funds
Adopted Budget/Operational Plan
21. An accounting device established to control receipts and disbursements set aside to support specific activities.
Enterprise Fund
Fund
Board of Supervisors
Proprietary Funds
22. 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
General Fund
Physical Intentory
Line-Item Budget
Expenditure Type
23. 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.
Preliminary Budget
Data Warehouse
Inventory Items
Funds Available
24. 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.
General Fund
Data Warehouse
Grant
Activity- Based Costing (ABC)
25. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Baseline
Average Balance
Full Cost
Service and Supplies
26. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Reserve
Pension and other employee benefit Trust Fund
Revenue
Enterprise Fund
27. 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
Asset Management
Enterprise Fund
Encumbrance
Fund
28. 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.
Chart of Accounts
Productive Time
Asset Management
Special Revenue Fund
29. 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
General Fund
Force Account
Invoice
30. An itemized statement of money owed for goods shipped or services rendered
Invoice
Overrealized Revenue
Encumbrance
Debt Service
31. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Proprietary Funds
Accounting Standards
Fund
Supplier
32. 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
Encumbrance Types
Invoice
General Fund
33. 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.
Invoice
Fiduciary Fund
Purchase Requsition
Commitment
34. 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
Account Segment
Reserve
Line Budget Item
Internal Service Fund (ISF)
35. Fund is an independent fiscla and accounting entity.
Blanket Purchase Agreement
Fund
Internal Service Fund (ISF)
Project
36. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Debt Service Funds
Full Cost
Purchase Requsition
Line Type
37. Accounts for the accumulation for and the payment of general long-term principal and interest.
Debt Service Funds
Accounting Standards
Expenditure Type
Direct Cost or Direct Expense
38. 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.
Full Tim Equivalency (FTE)
Supplier
Accounting Standards
Internal Agreement
39. 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
Invoice
Invoice
Internal Agreement
Indirect Cost or Indirect Expense
40. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Force Account
Purchase Order
Special Revenu Fund
Grant
41. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Force Account
Productive Time
Special Revenue Fund
Capital Budget
42. 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
Current Budget
Capital Budget
Obligation
43. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Line-Item Budget
Cash Basis of Accounting
Productive Time
Appropriation
44. 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.
Blanket Purchase Agreement
Expensed Inventory
Fixed Asset
Adopted Budget/Operational Plan
45. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Board of Supervisors
Encumbrance Types
Cost Budget
Internal Service Funds
46. 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 -
Deficit
Capital Outlay Fund (COA)
Capital Assets
Capital Project
47. To approve an award budget for use in reporting and accounting.
Asset
Activity- Based Costing (ABC)
Change Letter
Baseline
48. 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.
Current Budget
Debt Service Funds
Grant
Activity- Based Costing (ABC)
49. The spread of an assets cost over the time period it is used.
Debt Service
Supplier
Depreciate
Fund
50. The account structure an enterprise uses to record transactions and maintain account balances.
Depreciate
Project
Chart of Accounts
Estimated Revenue
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