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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
Indirect Cost of Expense
Original Budget
Bond
Fiduciary
2. 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
Invoice
Debt Service Funds
Average Balance
Blanket Purchase Agreement
3. 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 Inventory
Debt Service Funds
Fund
Activity- Based Costing (ABC)
4. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Baseline Budget
General Purpose Revenue
Full Tim Equivalency (FTE)
Revenue
5. Expenditures related to the acquisition - expansion - or rehabilitatin of major fixed assets - such as land - buildings - structures - and certain types of equipment; remodeling/upgrades which improve or enhance the use of an existing facility or spa
Capital Improvement
Accounting Standards
Invoice
Revenue
6. To approve an award budget for use in reporting and accounting.
Revenue
Baseline
Enterprise Fund
Current Budget
7. 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.
Cost Budget
Funds Available
Indirect Cost of Expense
Award
8. 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
Fund
Inventory Items
Data Warehouse
Special Revenue Fund
9. 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.
Grant
Depreciate
Expenditures
Avoidable Cost
10. The electronic process of mainaining an itemized list of current inventory.
Asset Management
Debt Service Funds
Expenditures
Internal Service Fund (ISF)
11. 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
Overrealized Revenue
Account
Internal Service Fund (ISF)
Capital Project
12. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Fund Balance
Data Warehouse
Revenue
Enterprise Funds
13. 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.
Account Segment
Productive Time
Fiduciary Fund
Encumbrance
14. 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.
Debt Service Funds
Special Revenue Fund
Commitment
Standard Purchase Order
15. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Physical Intentory
Account Segment
Fiduciary Fund
Asset
16. 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.
Capital Projects Funds
Baseline
Proprietary Funds
Expenditures
17. The budget amounts for a project at the first successful Baselining of the project.
Line Type
Original Budget
Obligation
Line Budget Item
18. 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.
Project
Internal Service Funds
Program Budget
Depreciation
19. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Cash Basis of Accounting
Accrual Basis of Accounting
Standard Purchase Order
Governmental Funds
20. 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
Special Revenue Fund
Invoice
Pension and other employee benefit Trust Fund
Appropriation
21. The difference between budgeted amounts and all actual and anticipated expenditures.
Funds Available
Asset
Capital Projects Funds
Special Revenue Fund
22. 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.
Pension and other employee benefit Trust Fund
Direct Expense
Invoice
Purchase Order
23. 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
Asset
Activity- Based Costing (ABC)
Fund Balance
Encumbrance Types
24. 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)
Account
Debt Service Funds
Enterprise Fund
25. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Revenue
Line-Item Budget
Chart of Accounts
Debt Service Funds
26. 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 -
Accrual Basis of Accounting
Capital Outlay Fund (COA)
Encumbrance
Governmental Funds
27. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Program Budget
Enterprise Funds
Full Tim Equivalency (FTE)
Average Balance
28. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Reserve
Capital Project
Depreciation
Encumbrance Types
29. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Encumbrance
Fund
Grant
Cash Basis of Accounting
30. 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)
Expensed Inventory
Invoise Types
Encumbrance
31. 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.
Fiduciary Fund
Indirect Cost of Expense
Adopted Budget/Operational Plan
Accounting Standards
32. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Debt Service
Asset Inventory
Revenue
Service and Supplies
33. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Line-Item Budget
Avoidable Cost
Debt Service
Enterprise Fund
34. A classification of cost that is assigned to each expenditure items. Expenditure types are grouped into cost groups ( expenditure categories) and revenue groups ( revenue categories).
Invoice
Capital Budget
Baseline Budget
Expenditure Type
35. 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.
Revenue
Funds Available
Purchase Order
Fund
36. 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
Depreciation
Appropriation
General Fund
37. 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
Current Budget
Indirect Cost or Indirect Expense
Internal Service Funds
Funds
38. 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.
Change Letter
Capital Assets
Invoise Types
General Fund
39. 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).
Adopted Budget/Operational Plan
Debt Service
Program Budget
Revenue
40. 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.
Account
Purchase Requsition
Debt Service
Spending Funds
41. Is derived from taxes - licenses - fees - and investment earnings.
Revenue
Capital Improvement
Debt Service Funds
Internal Service Fund (ISF)
42. Units of work that can be broken down into one or more task to capture and related revenue.
Internal Service Fund (ISF)
Project
Purchase Requsition
Fiduciary Fund
43. 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
Accrual Basis of Accounting
Project
Fixed Asset
44. 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
Special Revenu Fund
Force Account
Depreciate
Fund
45. 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.
Capital Budget
General Purpose Revenue
Debt Service Funds
Release
46. The most recently baselined budget version of the budget.
Current Budget
Invoice
Deficit
Grant
47. 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.
Invoice
Internal Service Funds
Depreciation
Fiduciary
48. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Line Type
Capital Budget
Cost Budget
Cost Applied
49. An account that contains money set aside for a legaly restricted specifi future use.
Average Balance
Indirect Project
Reserve
Fiduciary Fund
50. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Commitment
Enterprise Funds
Grant
Supplier