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Oracle Vocab
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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. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Cash Basis of Accounting
General Purpose Revenue
Depreciate
Cost Applied
2. 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
Overrealized Revenue
Funds
Internal Service Fund (ISF)
Full Cost
3. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Expenditures
Estimated Revenue
Debt Service Funds
Full Cost
4. The spread of an assets cost over the time period it is used.
General Fund
Invoice
Project
Depreciate
5. 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.
Supplier
Activity- Based Costing (ABC)
Fixed Asset
Expensed Inventory
6. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Encumbrance
Invoise Types
General Purpose Revenue
Data Warehouse
7. 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.
Direct Cost or Direct Expense
Internal Service Fund (ISF)
Expenditures
Special Revenu Fund
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 -
Direct Expense
Capital Project
Grant
Data Warehouse
9. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Change Letter
Average Balance
Adopted Budget
Line-Item Budget
10. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Fiduciary
Special Revenu Fund
Physical Intentory
Original Budget
11. 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
Direct Cost or Direct Expense
Org.
Award
Enterprise Fund
12. The electronic process of mainaining an itemized list of current inventory.
Internal Agreement
Baseline
Asset Management
Original Budget
13. 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
Adopted Budget
Project
Current Budget
Blanket Purchase Agreement
14. The account structure an enterprise uses to record transactions and maintain account balances.
Funds
Force Account
Chart of Accounts
Capital Assets
15. 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
Blanket Purchase Agreement
Inventory Items
Line Budget Item
Fund
16. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Capital Project Fund
Invoice
Purchase Order
Board of Supervisors
17. 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 -
Depreciation
Encumbrance
Asset Management
Physical Intentory
18. The amount of revenue expected to accrue or to be collected during a fiscal year.
Expenditures
Indirect Project
Estimated Revenue
Fixed Asset
19. 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.
Activity- Based Costing (ABC)
Capital Assets
Inventory Item
Capital Improvement
20. As a political subdivision of the State of California - the County is governed by a five- member Board of Supervisor - which has legislative and executed authority. Each member of the Board of Supervisors is elected by geographic district.
Expensed Inventory
Project
Board of Supervisors
Org.
21. 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
Fixed Asset
Capital Improvement
Change Letter
22. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Award
Depreciation
Fiduciary Fund
Average Balance
23. Accounts for the County's financial resources except those required to be accounted for in another fund.
Reserve
Encumbrance Types
General Fund
Capital Outlay Fund (COA)
24. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Indirect Cost or Indirect Expense
Cash Basis of Accounting
Debt Service Funds
Asset Management
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).
Invoice
Cash Basis of Accounting
Encumbrance Types
Invoice
26. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Internal Service Funds
Asset Management
Revenue
Direct Cost or Direct Expense
27. 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.
Capital Improvement Plan (CIP)
Expenditure Type
Activity- Based Costing (ABC)
Physical Intentory
28. 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
General Fund
Full Tim Equivalency (FTE)
Revenue
29. 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
Org.
Contract or Contract Purchase Agreement (CPA)
Fixed Asset
Appropriation
30. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Average Balance
Capital Project Fund
Spending Funds
Inventory Item
31. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Debt Service
Activity- Based Costing (ABC)
Average Balance
Capital Improvement
32. 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
Enterprise Fund
Asset
Invoice
33. 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.
Asset Management
Capital Project
Preliminary Budget
Estimated Revenue
34. 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.
Invoice
Funds Available
Internal Service Fund (ISF)
Purchase Order
35. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Proprietary Funds
Overrealized Revenue
Change Letter
Adopted Budget
36. An account that contains money set aside for a legaly restricted specifi future use.
Debt Service Funds
Reserve
Genaral Revenue Allocation
Capital Budget
37. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Deficit
Capital Budget
Capital Projects Funds
Capital Outlay Fund (COA)
38. 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
Capital Project
Productive Time
Debt Service
Average Balance
39. Accounts for the accumulation for and the payment of general long-term principal and interest.
Fund
Cash Basis of Accounting
Service and Supplies
Debt Service Funds
40. 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.
General Purpose Revenue
Contract or Contract Purchase Agreement (CPA)
Depreciate
Line-Item Budget
41. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Full Cost
Unanticipated Revenue
Force Account
Accounting Standards
42. 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
Project
Force Account
Inventory Item
Enterprise Funds
43. 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.
Award
Depreciate
Funds Available
Grant
44. 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.
General Fund
Proprietary Funds
Encumbrance
Average Balance
45. 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.
Expenditures
Depreciation
Capital Outlay Fund (COA)
Spending Funds
46. The budget amounts for a project at the first successful Baselining of the project.
Original Budget
Release
Contract or Contract Purchase Agreement (CPA)
Debt Service
47. The most recently baselined budget version of the budget.
Enterprise Funds
Current Budget
Expenditure
Avoidable Cost
48. 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.
Board of Supervisors
Contract or Contract Purchase Agreement (CPA)
Revenue
Cost Applied
49. 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.
Award
Productive Time
General Fund
Estimated Revenue
50. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Project
Grant
Proprietary Funds
Invoice
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