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Oracle Vocab

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. 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.






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






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.






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.






5. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.






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 -






7. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts






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.






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.






10. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.






11. The amount of revenue expected to accrue or to be collected during a fiscal year.






12. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.






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






14. The amount of revenue expected to accrue or to be collected during a fiscal year.






15. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.






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).






17. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.






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.






19. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.






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.






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).






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






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.






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.






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.






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.






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






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






29. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.






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






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.






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.






33. A self-balancing set of accounts.






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.






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.






36. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD






37. The account structure an enterprise uses to record transactions and maintain account balances.






38. Accounts for the accumulation for and the payment of general long-term principal and interest.






39. Accounts for assets held by government in a trustee capacity for public employement retirement systems.






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).






41. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds






42. Enterprise Funds - Internal Service Fund






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.






44. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.






45. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.






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






47. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.






48. Is derived from taxes - licenses - fees - and investment earnings.






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






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.







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