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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. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Fixed Asset
Chart of Accounts
Capital Assets
Internal Service Funds
2. 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
Revenue
Grant
Fixed Asset
3. 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.
Grant
Activity- Based Costing (ABC)
Fund Balance
Cash Basis of Accounting
4. A five-year list of planned capital projects - developed by the Department of General Services.
Capital Improvement Plan (CIP)
Fiduciary
Raw Cost
Commitment
5. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Average Balance
Special Revenu Fund
Overrealized Revenue
Productive Time
6. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Commitment
Unanticipated Revenue
Deficit
Governmental Funds
7. 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.
Fund
Standard Purchase Order
Invoice
Capital Projects Funds
8. 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 -
Capital Project
Full Cost
Cost Budget
Commitment
9. The difference between budgeted amounts and all actual and anticipated expenditures.
Inventory Item
Baseline Budget
Contract or Contract Purchase Agreement (CPA)
Funds Available
10. 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.
General Fund
Indirect Cost of Expense
Adopted Budget
Asset Management
11. The budget amounts for a project at the first successful Baselining of the project.
Original Budget
Invoice
Change Letter
Purchase Order
12. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Program Budget
Service and Supplies
Invoice
Depreciate
13. 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.
Trust Fund
Contract or Contract Purchase Agreement (CPA)
Chart of Accounts
Proprietary Funds
14. 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.
Capital Project Fund
Fund
Line Budget Item
Fixed Asset
15. The spread of an assets cost over the time period it is used.
General Fund
Org.
Invoise Types
Depreciate
16. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Depreciation
Reserve
Change Letter
Revenue
17. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Inventory Items
Proprietary Funds
Cost Applied
Pension and other employee benefit Trust Fund
18. 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
Blanket Purchase Agreement
Capital Budget
Change Letter
Internal Service Fund (ISF)
19. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Capital Projects Funds
Account
Adopted Budget/Operational Plan
Fund Balance
20. 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.
Debt Service Funds
Spending Funds
General Purpose Revenue
Cost Budget
21. 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
Contract or Contract Purchase Agreement (CPA)
Line-Item Budget
Trust Fund
Direct Cost or Direct Expense
22. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
General Purpose Revenue
Deficit
Overrealized Revenue
Adopted Budget
23. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Fiduciary
Account Segment
Line Type
Purchase Requsition
24. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Fixed Asset
Proprietary Funds
Encumbrance Types
Capital Assets
25. 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.
Expensed Inventory
Depreciate
Trust Fund
Expenditures
26. 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
Internal Service Fund (ISF)
Purchase Requsition
Expenditure
Average Balance
27. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Governmental Funds
Special Revenue Fund
Expenditure Type
Invoice
28. Fund is an independent fiscla and accounting entity.
Debt Service Funds
Asset Inventory
Fund
Invoice
29. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Reserve
General Purpose Revenue
Debt Service Funds
Capital Outlay Fund (COA)
30. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Accrual Basis of Accounting
Revenue
Service and Supplies
Enterprise Fund
31. 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.
Change Letter
Fund Balance
Enterprise Fund
Commitment
32. Is derived from taxes - licenses - fees - and investment earnings.
Invoice
Expenditures
Capital Project
Revenue
33. 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.
Fund
Asset Management
Trust Fund
Encumbrance
34. 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.
Funds Available
Fund
Accrual Basis of Accounting
Full Cost
35. 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.
Direct Cost or Direct Expense
Full Tim Equivalency (FTE)
Expenditure
Commitment
36. 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
Grant
General Fund
Pension and other employee benefit Trust Fund
37. 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.
Capital Improvement
Release
Contract or Contract Purchase Agreement (CPA)
Grant
38. A spending plan for improvements to or acquisition of land - facilities - and infrastructure. The capital budget balances revenues and expenditures - specifies the sources of revenues - and lists each project or acquisition.
Enterprise Fund
Direct Cost or Direct Expense
Full Cost
Capital Budget
39. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Capital Project Fund
Purchase Requsition
Funds
Accounting Standards
40. 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
Indirect Cost or Indirect Expense
Fixed Asset
Line Type
Cost Budget
41. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Release
Raw Cost
Fund
General Fund
42. An account that contains money set aside for a legaly restricted specifi future use.
Baseline
Adopted Budget/Operational Plan
Trust Fund
Reserve
43. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Fund
Program Budget
Adopted Budget
Asset
44. 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
Accrual Basis of Accounting
Governmental Funds
Average Balance
45. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Physical Intentory
Encumbrance Types
Expenditure Type
Capital Projects Funds
46. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Obligation
Fiduciary Fund
Data Warehouse
Governmental Funds
47. The amount of revenue expected to accrue or to be collected during a fiscal year.
Expensed Inventory
Baseline Budget
Capital Projects Funds
Estimated Revenue
48. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Fund Balance
Depreciation
Invoise Types
General Purpose Revenue
49. 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.
Obligation
Capital Projects Funds
Release
Physical Intentory
50. 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
Bond
Original Budget
Funds Available
Internal Agreement