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Test your basic knowledge |
Oracle Vocab
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Subjects
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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. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Line Type
General Fund
Governmental Funds
Physical Intentory
2. An account that contains money set aside for a legaly restricted specifi future use.
Deficit
Fiduciary
Reserve
Encumbrance
3. Enterprise Funds - Internal Service Fund
Proprietary Funds
Encumbrance
Internal Service Fund (ISF)
Fund
4. The amount of revenue expected to accrue or to be collected during a fiscal year.
Pension and other employee benefit Trust Fund
Estimated Revenue
Grant
Purchase Requsition
5. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Inventory Item
Governmental Funds
Obligation
Trust Fund
6. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Baseline Budget
Bond
Raw Cost
Expenditure Type
7. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Pension and other employee benefit Trust Fund
Capital Budget
Cost Budget
Encumbrance
8. 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
Supplier
Debt Service
Pension and other employee benefit Trust Fund
Fund Balance
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.
Invoise Types
Fiduciary
Grant
Account
10. 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.
Average Balance
Special Revenue Fund
Spending Funds
Avoidable Cost
11. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Encumbrance Types
Capital Project
Revenue
Data Warehouse
12. 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 -
Force Account
Capital Projects Funds
Capital Project
Line Budget Item
13. An itemized statement of money owed for goods shipped or services rendered
Pension and other employee benefit Trust Fund
Enterprise Funds
Invoice
Inventory Item
14. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Inventory Item
Proprietary Funds
Board of Supervisors
Encumbrance
15. 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.
Special Revenue Fund
Adopted Budget/Operational Plan
Depreciation
Internal Agreement
16. 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.
Indirect Cost or Indirect Expense
Revenue
Expensed Inventory
Internal Agreement
17. 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).
Indirect Cost or Indirect Expense
Revenue
Debt Service
Direct Cost or Direct Expense
18. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Line Type
Enterprise Fund
Genaral Revenue Allocation
Debt Service
19. The account structure an enterprise uses to record transactions and maintain account balances.
Capital Improvement
Accounting Standards
Chart of Accounts
Data Warehouse
20. A five-year list of planned capital projects - developed by the Department of General Services.
Baseline Budget
Internal Agreement
Capital Improvement Plan (CIP)
Inventory Item
21. 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.
Proprietary Funds
Internal Service Funds
Capital Assets
Activity- Based Costing (ABC)
22. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
General Purpose Revenue
Fixed Asset
Invoice
Funds
23. 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
Force Account
Depreciation
Bond
Standard Purchase Order
24. 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.
General Purpose Revenue
Purchase Order
Chart of Accounts
Adopted Budget/Operational Plan
25. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Enterprise Funds
Internal Service Fund (ISF)
Trust Fund
Data Warehouse
26. Assets - which are intended to be held or used for an extended periof of time - such as land - buildings - structures - machinery - furniture - and other equipment. Any piece of equipment costing $5 -000 or more must be purchased as a fixed asset.
Depreciate
General Fund
Inventory Items
Fixed Asset
27. The budget amounts for a project at the first successful Baselining of the project.
Inventory Items
Original Budget
Spending Funds
Invoice
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
Debt Service
Capital Project
Adopted Budget
Capital Outlay Fund (COA)
29. 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.
Trust Fund
Cost Budget
Direct Cost or Direct Expense
Depreciation
30. 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.
Line Type
Overrealized Revenue
Revenue
Productive Time
31. The spread of an assets cost over the time period it is used.
Fixed Asset
Proprietary Funds
Depreciate
Fund
32. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Current Budget
Unanticipated Revenue
Enterprise Funds
Contract or Contract Purchase Agreement (CPA)
33. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Account Segment
Original Budget
Special Revenue Fund
Revenue
34. 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.
Invoise Types
Debt Service
Trust Fund
Program Budget
35. 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
Grant
General Fund
Inventory Items
36. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Grant
Depreciation
Debt Service Funds
Special Revenu Fund
37. 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 ).
Encumbrance Types
Indirect Project
Revenue
Purchase Requsition
38. 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.
Adopted Budget
Full Cost
Expenditure
Reserve
39. 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).
Capital Projects Funds
Depreciation
Enterprise Fund
Capital Project
40. 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 - as distiquished from overhead and other indirect costs which most be prorated among several products or services - dep
Purchase Requsition
Expenditure Type
Direct Expense
Capital Projects Funds
41. 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
Depreciate
Project
Trust Fund
Indirect Cost or Indirect Expense
42. The electronic process of mainaining an itemized list of current inventory.
Asset Management
Fiduciary Fund
Enterprise Funds
Direct Expense
43. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Governmental Funds
Expenditures
Appropriation
44. A unit with budgetary control and/or management responsibilities for financial transactions. Represents the 'cost center'qualifier segment required in Oracle and is at the trasactional level of input( child).
Release
Asset Management
Org.
Revenue
45. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Inventory Items
Invoise Types
Baseline
Project
46. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Depreciation
Accrual Basis of Accounting
Invoice
Asset
47. 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
Expensed Inventory
General Fund
Purchase Order
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.
Inventory Items
Contract or Contract Purchase Agreement (CPA)
General Purpose Revenue
Internal Agreement
49. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Capital Project Fund
Service and Supplies
Revenue
Fund Balance
50. Accounts for the accumulation for and the payment of general long-term principal and interest.
Enterprise Funds
Direct Expense
General Fund
Debt Service Funds
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