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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. 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.
Line-Item Budget
Encumbrance Types
Full Cost
Governmental Funds
2. The budget amounts for a project at the first successful Baselining of the project.
Original Budget
Cost Budget
Asset
Line Budget Item
3. 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
Deficit
Accounting Standards
Direct Expense
Depreciate
4. The account structure an enterprise uses to record transactions and maintain account balances.
Unanticipated Revenue
Chart of Accounts
Asset Management
Proprietary Funds
5. The spread of an assets cost over the time period it is used.
Capital Assets
Depreciate
Obligation
Invoice
6. 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.
Inventory Items
Encumbrance Types
Line Budget Item
Internal Service Fund (ISF)
7. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Adopted Budget
Accounting Standards
Pension and other employee benefit Trust Fund
Debt Service Funds
8. 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
Project
Revenue
Blanket Purchase Agreement
9. 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).
Asset
Avoidable Cost
Capital Projects Funds
Purchase Order
10. An accounting device established to control receipts and disbursements set aside to support specific activities.
Data Warehouse
Expensed Inventory
Fund
Grant
11. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Capital Outlay Fund (COA)
Overrealized Revenue
Invoise Types
Grant
12. Accounts for the County's financial resources except those required to be accounted for in another fund.
General Fund
Adopted Budget
Appropriation
Accounting Standards
13. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Capital Improvement
Asset Inventory
Encumbrance Types
Productive Time
14. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Capital Project
Accrual Basis of Accounting
Pension and other employee benefit Trust Fund
Asset
15. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Deficit
Preliminary Budget
Original Budget
Account Segment
16. Units of work that can be broken down into one or more task to capture and related revenue.
Project
Debt Service Funds
Fixed Asset
Purchase Requsition
17. 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.
Capital Project
Expenditure
Fiduciary
Productive Time
18. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
General Fund
Adopted Budget/Operational Plan
Fund
Special Revenue Fund
19. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Capital Improvement
Enterprise Fund
Invoise Types
Unanticipated Revenue
20. Trust Fund and Agency Funds
Revenue
Project
Fiduciary
Appropriation
21. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Board of Supervisors
Special Revenue Fund
Average Balance
Governmental Funds
22. 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
Org.
Activity- Based Costing (ABC)
Baseline
Blanket Purchase Agreement
23. 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.
Standard Purchase Order
Physical Intentory
Expenditure Type
Account Segment
24. Accounts for the accumulation for and the payment of general long-term principal and interest.
Debt Service Funds
Proprietary Funds
Direct Expense
Fixed Asset
25. 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.
General Purpose Revenue
General Fund
Contract or Contract Purchase Agreement (CPA)
Fund
26. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Line Budget Item
Genaral Revenue Allocation
Change Letter
Enterprise Fund
27. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Release
Baseline Budget
Adopted Budget
Funds Available
28. The most recently baselined budget version of the budget.
Current Budget
Fund
Invoise Types
Commitment
29. 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
Standard Purchase Order
Activity- Based Costing (ABC)
Debt Service
30. 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 -
Service and Supplies
Fund
Encumbrance
Line-Item Budget
31. Are established by the Board of Supervisors and include Airports - Wastewater Management and Transit Enterprise Funds - County Sanitation Districts and various Internal Service Funds ( General Services Fleet Maintenance - Facilities Management and Do
General Purpose Revenue
Productive Time
Enterprise Fund
Capital Project Fund
32. To approve an award budget for use in reporting and accounting.
Fund
Productive Time
Asset
Baseline
33. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Line Type
Grant
Direct Cost or Direct Expense
Invoise Types
34. 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.
Fund
Pension and other employee benefit Trust Fund
Direct Expense
Depreciation
35. Land - improvements to land - buildings - building improvements - vehicles - machinery - equipment - works of art and historical treasures - infrastructure - and all other tangible or intangible assets that are used in operations and that have initia
Purchase Order
Cost Budget
Capital Assets
Current Budget
36. 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
Purchase Order
Line Budget Item
Estimated Revenue
37. 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
Grant
Change Letter
Direct Cost or Direct Expense
38. 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.
Fund
Capital Assets
Spending Funds
Award
39. The amount of revenue expected to accrue or to be collected during a fiscal year.
Standard Purchase Order
Estimated Revenue
Pension and other employee benefit Trust Fund
Accrual Basis of Accounting
40. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Depreciate
Depreciation
Indirect Cost of Expense
Account
41. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Cost Applied
Bond
Asset Inventory
Special Revenu Fund
42. A grant - subsidy - revenue agreement - revenue contract - or specific funding which is allocated to an organization for a specific purpose(s) and can be used to fund one or more projects - An award is usually billed or invoiced to a Customer ( i.e.
Capital Improvement
Award
Current Budget
Baseline
43. Annual principal and interest payments that local government owes on borrowed money.
Account
Encumbrance
Encumbrance Types
Debt Service
44. The financial plan in terms of the costs of activities to be undertaken to achieve specific goals and objectives - which form a department's operational components.
Expenditure
Proprietary Funds
Program Budget
Revenue
45. 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.
Depreciation
Grant
Service and Supplies
Expenditures
46. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
General Purpose Revenue
Line Type
Capital Project Fund
Trust Fund
47. 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.
Invoice
Asset Inventory
Trust Fund
Fund
48. 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.
Unanticipated Revenue
Force Account
Direct Cost or Direct Expense
Inventory Item
49. 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
Cash Basis of Accounting
Line-Item Budget
Line Budget Item
Capital Assets
50. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Productive Time
Genaral Revenue Allocation
Accrual Basis of Accounting
Average Balance