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Oracle Vocab
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Subjects
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oracle
,
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. 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.
Special Revenue Fund
Capital Outlay Fund (COA)
Expenditure
Direct Expense
2. 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
Proprietary Funds
Original Budget
Debt Service Funds
Indirect Cost or Indirect Expense
3. 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.
Estimated Revenue
Grant
Blanket Purchase Agreement
Encumbrance
4. Appropriations and estimated revenue or an annual spending plan that is adopted by the Board of Supervisors( or the Board acting as the Board of Directors) pursuant to the Goverment Code - which balances revenues and expenditures.
Average Balance
Commitment
Adopted Budget
Baseline Budget
5. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Standard Purchase Order
Raw Cost
Estimated Revenue
Depreciation
6. 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 -
Debt Service Funds
Capital Improvement
Capital Project
Full Cost
7. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Account
Contract or Contract Purchase Agreement (CPA)
Chart of Accounts
Depreciation
8. 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.
Enterprise Funds
Inventory Items
Adopted Budget
General Purpose Revenue
9. 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.
Preliminary Budget
Fiduciary Fund
Expenditure Type
General Fund
10. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Expenditure
Original Budget
Asset
Trust Fund
11. The amount of revenue expected to accrue or to be collected during a fiscal year.
Full Tim Equivalency (FTE)
Expenditures
Estimated Revenue
Invoice
12. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Commitment
Invoice
Data Warehouse
Project
13. A budget Format prescribed by the State Controller. Refers to account and sub-account detail typically provided by revenue source - and objects of expenditures based on the types of goods or services(salaries & benefits - services & supplies - other
Fiduciary
Release
Fund
Line Budget Item
14. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Adopted Budget
Inventory Item
Encumbrance
15. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Fund
Internal Service Funds
Line Budget Item
Deficit
16. 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).
Expenditure Type
Funds
Revenue
Debt Service
17. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Baseline
Debt Service Funds
Activity- Based Costing (ABC)
Debt Service
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.
Invoise Types
Full Cost
Encumbrance
Depreciation
19. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Chart of Accounts
Internal Service Funds
Accounting Standards
Asset Inventory
20. 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.
Expenditure
Preliminary Budget
Spending Funds
Encumbrance
21. 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).
Cash Basis of Accounting
Obligation
Debt Service Funds
Capital Projects Funds
22. 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
Preliminary Budget
Debt Service Funds
Contract or Contract Purchase Agreement (CPA)
Internal Service Fund (ISF)
23. 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.
Accounting Standards
Fiduciary Fund
Internal Agreement
Enterprise Fund
24. 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.
Obligation
Expensed Inventory
Reserve
Spending Funds
25. 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.
Overrealized Revenue
General Fund
Asset
Grant
26. An internal request for goods or services. A requisiton can originate from an employee or from another process. Each requition can include many lines - generally with a distict item on each requisition line.
Purchase Requsition
Asset Management
Productive Time
Invoice
27. 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
Funds
Enterprise Fund
Project
Standard Purchase Order
28. 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
Pension and other employee benefit Trust Fund
General Fund
Capital Project
Purchase Order
29. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Invoice
Fund
Capital Project Fund
Bond
30. 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
Baseline
Internal Service Fund (ISF)
Current Budget
Direct Cost or Direct Expense
31. 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.
Invoise Types
Special Revenu Fund
Trust Fund
Productive Time
32. 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.
Indirect Cost of Expense
Fiduciary Fund
Indirect Cost or Indirect Expense
Special Revenue Fund
33. A self-balancing set of accounts.
Fund
Trust Fund
Purchase Order
Estimated Revenue
34. 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
Accrual Basis of Accounting
Standard Purchase Order
Depreciate
35. 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.
Inventory Items
Average Balance
Data Warehouse
Program Budget
36. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Grant
Account
Program Budget
Account Segment
37. The account structure an enterprise uses to record transactions and maintain account balances.
Chart of Accounts
Purchase Order
Line Budget Item
Inventory Item
38. Accounts for the accumulation for and the payment of general long-term principal and interest.
Debt Service Funds
Special Revenue Fund
Genaral Revenue Allocation
Expenditure
39. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Pension and other employee benefit Trust Fund
Expenditure
Commitment
Current Budget
40. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Average Balance
Grant
Fund
Encumbrance Types
41. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Enterprise Fund
Capital Projects Funds
Purchase Requsition
Governmental Funds
42. Enterprise Funds - Internal Service Fund
Fund Balance
Proprietary Funds
Cost Budget
Account
43. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Enterprise Fund
Funds
Special Revenue Fund
Full Tim Equivalency (FTE)
44. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Blanket Purchase Agreement
Line-Item Budget
Fund
Full Tim Equivalency (FTE)
45. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Internal Service Fund (ISF)
Deficit
Supplier
Fiduciary Fund
46. 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
Fixed Asset
Inventory Items
General Purpose Revenue
Reserve
47. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Fund
Physical Intentory
Fiduciary Fund
Invoice
48. Is derived from taxes - licenses - fees - and investment earnings.
Line-Item Budget
Cost Applied
Full Cost
Revenue
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
Full Tim Equivalency (FTE)
Fixed Asset
Line-Item Budget
Change Letter
50. 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)
Debt Service
Indirect Cost or Indirect Expense
Blanket Purchase Agreement
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