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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. 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
Purchase Order
Fund
Overrealized Revenue
Bond
2. Accounts for the County's financial resources except those required to be accounted for in another fund.
Commitment
Governmental Funds
Depreciate
General Fund
3. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Release
Overrealized Revenue
General Purpose Revenue
Direct Cost or Direct Expense
4. A standard procurement document issued for delivery of specified goods or services on specified dates at specified locations. A PO is normally a one-time transaction.
Internal Service Fund (ISF)
Purchase Order
Fixed Asset
Capital Budget
5. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Account
Direct Cost or Direct Expense
Account Segment
Enterprise Fund
6. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Overrealized Revenue
Baseline Budget
Invoice
Preliminary Budget
7. 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
Reserve
General Fund
Baseline Budget
8. Annual principal and interest payments that local government owes on borrowed money.
Trust Fund
Capital Assets
Grant
Debt Service
9. 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
Capital Assets
Proprietary Funds
Depreciation
Avoidable Cost
10. 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.
Contract or Contract Purchase Agreement (CPA)
General Purpose Revenue
Force Account
Org.
11. 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.
Encumbrance
Fund
Productive Time
Grant
12. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Productive Time
Line Type
Unanticipated Revenue
Special Revenue Fund
13. 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 ).
Reserve
Capital Improvement
Indirect Project
General Fund
14. 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.
Debt Service
Award
Accounting Standards
Physical Intentory
15. Trust Fund and Agency Funds
Invoise Types
Capital Improvement
Expenditure Type
Fiduciary
16. 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
Invoice
Commitment
Special Revenu Fund
Fund Balance
17. 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).
Accrual Basis of Accounting
Estimated Revenue
General Fund
Raw Cost
18. 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)
Capital Project
Line Budget Item
Purchase Order
19. A five-year list of planned capital projects - developed by the Department of General Services.
Fund
Capital Improvement Plan (CIP)
Special Revenue Fund
Org.
20. The difference between budgeted amounts and all actual and anticipated expenditures.
Internal Service Fund (ISF)
Org.
Avoidable Cost
Funds Available
21. The spread of an assets cost over the time period it is used.
Enterprise Funds
Blanket Purchase Agreement
Depreciate
General Fund
22. 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
Funds Available
General Purpose Revenue
Change Letter
Fund
23. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Preliminary Budget
Purchase Order
Unanticipated Revenue
Grant
24. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Enterprise Funds
Revenue
Account Segment
Change Letter
25. 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.
Invoice
Activity- Based Costing (ABC)
Capital Improvement
Expensed Inventory
26. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Capital Project Fund
Fund
Cost Applied
Purchase Requsition
27. Accounts for the accumulation for and the payment of general long-term principal and interest.
Org.
Debt Service Funds
Adopted Budget/Operational Plan
Account
28. 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.
Fund
General Fund
Adopted Budget/Operational Plan
Line Budget Item
29. 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.
Commitment
Deficit
Indirect Cost or Indirect Expense
Standard Purchase Order
30. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Debt Service
Account Segment
General Purpose Revenue
Cash Basis of Accounting
31. 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
Capital Budget
Project
Asset Inventory
32. 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.
Obligation
Supplier
Trust Fund
Expenditure Type
33. 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.
Asset Management
Adopted Budget/Operational Plan
Inventory Item
Asset Inventory
34. An accounting device established to control receipts and disbursements set aside to support specific activities.
Fund
Indirect Cost or Indirect Expense
Debt Service Funds
Contract or Contract Purchase Agreement (CPA)
35. An initial building of the budget using a base year usually the second of the prior year's Operational Plan) for non salary related accounts and recalculated salary and benefits costs based on current positions loaded into BRASS from PeopleSoft.
General Fund
Accounting Standards
Revenue
Preliminary Budget
36. 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.
Service and Supplies
Fiduciary Fund
Invoice
Grant
37. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Fund
Grant
Grant
Raw Cost
38. 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
Avoidable Cost
Commitment
Expenditure
39. 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
Direct Expense
Debt Service Funds
Program Budget
40. 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.
Capital Assets
Indirect Cost or Indirect Expense
Depreciation
Capital Outlay Fund (COA)
41. The budget amounts for a project at the first successful Baselining of the project.
Original Budget
Data Warehouse
Release
Standard Purchase Order
42. 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.
Line-Item Budget
Enterprise Fund
Capital Project
Release
43. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Invoice
Special Revenu Fund
General Purpose Revenue
Adopted Budget
44. 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
Release
Cash Basis of Accounting
Debt Service Funds
45. 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.
Inventory Item
Spending Funds
Enterprise Fund
Revenue
46. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Org.
Estimated Revenue
Special Revenu Fund
Internal Agreement
47. 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.
Invoice
Award
Capital Project Fund
Obligation
48. 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.
Invoice
Commitment
Line Type
Special Revenu Fund
49. 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.
Internal Service Funds
General Fund
Fund Balance
Account Segment
50. 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
Appropriation
Line Budget Item
Capital Improvement
Fund