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Oracle Vocab
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Subjects
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oracle
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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. Is derived from taxes - licenses - fees - and investment earnings.
Funds
Revenue
Expensed Inventory
Capital Project
2. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Full Tim Equivalency (FTE)
Encumbrance Types
Baseline
Depreciation
3. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Direct Expense
Proprietary Funds
Change Letter
Inventory Items
4. 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.
Cost Applied
Full Cost
Asset Inventory
Account
5. 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
Asset Inventory
General Purpose Revenue
Expensed Inventory
Appropriation
6. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Debt Service Funds
Cost Applied
General Purpose Revenue
Invoice
7. 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.
Commitment
Enterprise Funds
Purchase Order
Productive Time
8. 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.
Expenditure
Reserve
Internal Service Funds
Average Balance
9. 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 -
Preliminary Budget
Invoise Types
Encumbrance
Fund
10. 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
Force Account
Indirect Cost of Expense
Accounting Standards
11. 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
Fund
Baseline Budget
Invoice
Revenue
12. 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.
Commitment
Direct Cost or Direct Expense
Invoice
Internal Service Funds
13. 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
Fund Balance
Unanticipated Revenue
Full Cost
Chart of Accounts
14. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Fund
Capital Project
Program Budget
Cash Basis of Accounting
15. 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 Budget Item
Line-Item Budget
Fund Balance
Asset
16. Units of work that can be broken down into one or more task to capture and related revenue.
Spending Funds
Genaral Revenue Allocation
Project
Invoise Types
17. 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.
Governmental Funds
Release
Depreciation
Average Balance
18. Accounts for the accumulation for and the payment of general long-term principal and interest.
Debt Service Funds
Activity- Based Costing (ABC)
Fund
Grant
19. Accounts for the County's financial resources except those required to be accounted for in another fund.
Internal Agreement
Supplier
Commitment
General Fund
20. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Estimated Revenue
Pension and other employee benefit Trust Fund
Baseline Budget
Appropriation
21. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Service and Supplies
Supplier
Activity- Based Costing (ABC)
Indirect Cost or Indirect Expense
22. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
General Purpose Revenue
Cash Basis of Accounting
Deficit
Avoidable Cost
23. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Revenue
Capital Budget
Internal Service Fund (ISF)
Special Revenu Fund
24. 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.
Award
Appropriation
Expenditures
Adopted Budget/Operational Plan
25. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Productive Time
Expenditure Type
Encumbrance Types
Depreciate
26. 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.
Grant
Baseline Budget
Invoise Types
Expensed Inventory
27. Annual principal and interest payments that local government owes on borrowed money.
General Fund
Proprietary Funds
Invoice
Debt Service
28. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Enterprise Fund
Contract or Contract Purchase Agreement (CPA)
Data Warehouse
Debt Service Funds
29. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Obligation
Governmental Funds
Encumbrance
Internal Agreement
30. An itemized statement of money owed for goods shipped or services rendered
Invoice
Capital Assets
Unanticipated Revenue
General Fund
31. 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.
Depreciate
Asset Management
Genaral Revenue Allocation
Standard Purchase Order
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 ( labor - equipment usage - materials - contractor payments - etc). These labor costs usually include only front-line or
Cost Applied
Direct Cost or Direct Expense
Cash Basis of Accounting
Line Budget Item
33. 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.
Cost Applied
Encumbrance Types
Fiduciary Fund
Capital Improvement Plan (CIP)
34. The difference between budgeted amounts and all actual and anticipated expenditures.
Asset Inventory
Revenue
Baseline
Funds Available
35. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Deficit
General Purpose Revenue
Raw Cost
Bond
36. 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).
General Fund
Board of Supervisors
Blanket Purchase Agreement
Accrual Basis of Accounting
37. The major fund in most government unit - the General Fund accounts for all activities not accounted for in other funds. Most functions such as Public Safety or Health Services and Human Resources are accounted for in the General Fund.
Special Revenue Fund
General Fund
Expensed Inventory
Service and Supplies
38. 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
Data Warehouse
Obligation
Standard Purchase Order
39. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Internal Service Fund (ISF)
Fiduciary Fund
Purchase Requsition
Physical Intentory
40. 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.
Internal Service Fund (ISF)
Revenue
Estimated Revenue
Adopted Budget/Operational Plan
41. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Encumbrance
Capital Project Fund
Grant
Reserve
42. To approve an award budget for use in reporting and accounting.
Fund
Capital Project Fund
Baseline
Estimated Revenue
43. 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
Direct Cost or Direct Expense
Deficit
Spending Funds
Internal Service Fund (ISF)
44. 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.
Grant
Fund
Fiduciary
Indirect Cost or Indirect Expense
45. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Asset
Internal Service Funds
Force Account
Proprietary Funds
46. 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
Internal Service Fund (ISF)
Encumbrance Types
Capital Improvement
Capital Project
47. Those elements of cost necessary in the production of an article or the performance of a service but no an integral part of the finished product or service - such as rent - heat - light - supplies - management - supervision - etc.
Debt Service Funds
Fund
Capital Projects Funds
Indirect Cost of Expense
48. 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
Direct Cost or Direct Expense
Depreciation
Enterprise Fund
Revenue
49. The amount of revenue expected to accrue or to be collected during a fiscal year.
Capital Project
Pension and other employee benefit Trust Fund
Estimated Revenue
General Purpose Revenue
50. 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.
Current Budget
Expenditures
Fund
Fund Balance
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