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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 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.
Asset
Accounting Standards
Internal Service Fund (ISF)
Depreciation
2. 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
Funds Available
Fiduciary Fund
Capital Assets
3. 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
Depreciation
General Fund
Cash Basis of Accounting
Capital Assets
4. 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.
Special Revenu Fund
Revenue
Capital Budget
Asset Inventory
5. 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
Internal Agreement
Grant
Preliminary Budget
6. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Revenue
Force Account
Avoidable Cost
Full Cost
7. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Revenue
Physical Intentory
Board of Supervisors
Original Budget
8. 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
Service and Supplies
Funds Available
Force Account
Full Tim Equivalency (FTE)
9. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Capital Budget
Pension and other employee benefit Trust Fund
Cash Basis of Accounting
Trust Fund
10. An Actual order(sub-order) of goods and services issued against a Blanket Purchase Agreement (BPA) for actual delivery with specified quantities - dates and the accounting information.
Commitment
Inventory Items
Release
Average Balance
11. 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.
Original Budget
Obligation
Contract or Contract Purchase Agreement (CPA)
Supplier
12. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Genaral Revenue Allocation
Inventory Item
Chart of Accounts
Contract or Contract Purchase Agreement (CPA)
13. An accounting device established to control receipts and disbursements set aside to support specific activities.
Board of Supervisors
Adopted Budget
Fund
Internal Service Funds
14. Units of work that can be broken down into one or more task to capture and related revenue.
Revenue
Project
Enterprise Funds
Indirect Cost of Expense
15. 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
Productive Time
Grant
Trust Fund
16. 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
Chart of Accounts
Productive Time
Blanket Purchase Agreement
Expenditure
17. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Expenditure
Revenue
Cost Applied
Commitment
18. 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.
Force Account
Obligation
Funds Available
Adopted Budget/Operational Plan
19. An account that contains money set aside for a legaly restricted specifi future use.
Cost Budget
Purchase Order
Reserve
Asset Inventory
20. To approve an award budget for use in reporting and accounting.
Direct Cost or Direct Expense
Baseline
Capital Project
Asset Management
21. 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.
Force Account
General Purpose Revenue
Supplier
Grant
22. 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 ).
Obligation
Data Warehouse
Indirect Project
Estimated Revenue
23. 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
Average Balance
Inventory Items
Special Revenue Fund
Cost Applied
24. 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
Asset Management
Bond
Genaral Revenue Allocation
Encumbrance Types
25. The spread of an assets cost over the time period it is used.
Expenditures
Purchase Requsition
Depreciate
Enterprise Fund
26. The most recently baselined budget version of the budget.
Encumbrance
Current Budget
Capital Assets
Invoise Types
27. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Deficit
Invoice
Full Tim Equivalency (FTE)
Original Budget
28. An itemized statement of money owed for goods shipped or services rendered
Capital Projects Funds
Service and Supplies
Invoice
Physical Intentory
29. 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.
Revenue
Depreciation
Program Budget
Expenditures
30. 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.
Average Balance
Full Cost
Appropriation
Governmental Funds
31. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Capital Outlay Fund (COA)
Raw Cost
Award
Original Budget
32. 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
Governmental Funds
Direct Expense
Internal Agreement
Debt Service
33. 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).
Fund Balance
Special Revenue Fund
Asset Inventory
Expenditure Type
34. 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
Governmental Funds
Account Segment
Line-Item Budget
Encumbrance
35. 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 -
Revenue
Internal Service Fund (ISF)
Capital Project
Award
36. 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
Accounting Standards
Project
Fund
Full Cost
37. 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
Enterprise Fund
Funds Available
Purchase Requsition
Full Tim Equivalency (FTE)
38. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Depreciate
Internal Service Funds
Supplier
Capital Project Fund
39. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Invoice
Revenue
Capital Assets
Fund
40. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Enterprise Fund
Cash Basis of Accounting
Supplier
Fund Balance
41. 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.
Fund
Pension and other employee benefit Trust Fund
Bond
Internal Service Fund (ISF)
42. 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
Capital Improvement Plan (CIP)
Fund Balance
Depreciation
Invoise Types
43. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Fiduciary
Pension and other employee benefit Trust Fund
Full Cost
Encumbrance
44. Accounts for the accumulation for and the payment of general long-term principal and interest.
Debt Service
Debt Service Funds
Line Type
Commitment
45. 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).
Encumbrance
Original Budget
Capital Project
Org.
46. A self-balancing set of accounts.
Fund
Proprietary Funds
Supplier
Proprietary Funds
47. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Cost Applied
Capital Project
Special Revenue Fund
Debt Service Funds
48. 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
Unanticipated Revenue
Contract or Contract Purchase Agreement (CPA)
Inventory Items
49. 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)
Chart of Accounts
Org.
50. The amount of revenue expected to accrue or to be collected during a fiscal year.
Direct Expense
Estimated Revenue
Expenditures
Capital Project