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Oracle Vocab

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 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






2. 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.






3. 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






4. 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.






5. 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






6. Units of work that can be broken down into one or more task to capture and related revenue.






7. 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






8. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.






9. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.






10. 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.






11. 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).






12. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.






13. 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).






14. A classification of cost that is assigned to each expenditure items. Expenditure types are grouped into cost groups ( expenditure categories) and revenue groups ( revenue categories).






15. Accounts for the accumulation for and the payment of general long-term principal and interest.






16. A type of purchasing document used to reference POs to a specific contract. It may include terms and conditions - agreed amounts - and an effective and expiration date.






17. 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.






18. 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.






19. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.






20. 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






21. 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.






22. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.






23. 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.






24. Accounts for the County's financial resources except those required to be accounted for in another fund.






25. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.






26. The amount of revenue expected to accrue or to be collected during a fiscal year.






27. Fund is an independent fiscla and accounting entity.






28. 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.






29. 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.






30. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.






31. 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.






32. 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






33. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.






34. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.






35. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.






36. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.






37. Enterprise Funds - Internal Service Fund






38. 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






39. A type of purchase order that can be issued for delivery of goods or services for specific dates and locations. Each standard purchase order line can have multiple shipments and ca distribute the quantity of each shipment across multiple accounts.






40. 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.






41. 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.






42. 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.






43. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -






44. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.






45. 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).






46. The amount of revenue expected to accrue or to be collected during a fiscal year.






47. 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.






48. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).






49. 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.






50. 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).