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Oracle Vocab
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Subjects
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oracle
,
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. 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.
Grant
Expensed Inventory
Activity- Based Costing (ABC)
Project
2. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Invoise Types
Trust Fund
Line-Item Budget
Project
3. The amount of revenue expected to accrue or to be collected during a fiscal year.
Purchase Order
Invoice
Capital Project Fund
Estimated Revenue
4. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Capital Project
Special Revenu Fund
Award
Cost Applied
5. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Fund
Account
Debt Service Funds
Enterprise Funds
6. Accounts for the accumulation for and the payment of general long-term principal and interest.
Funds
Invoice
Debt Service Funds
Overrealized Revenue
7. 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.
Capital Improvement Plan (CIP)
Full Cost
Org.
Encumbrance
8. 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 -
Chart of Accounts
Direct Expense
Encumbrance
Capital Projects Funds
9. 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 ).
Avoidable Cost
Special Revenu Fund
Fixed Asset
Indirect Project
10. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Chart of Accounts
Enterprise Funds
Asset
General Fund
11. 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
Funds Available
Indirect Project
Activity- Based Costing (ABC)
Bond
12. 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
Physical Intentory
Line Budget Item
Account Segment
General Fund
13. The account structure an enterprise uses to record transactions and maintain account balances.
Purchase Order
Chart of Accounts
General Purpose Revenue
Capital Assets
14. 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.
Adopted Budget/Operational Plan
General Purpose Revenue
Standard Purchase Order
Revenue
15. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Expenditure Type
Program Budget
Proprietary Funds
Cash Basis of Accounting
16. 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
Line Budget Item
Fund
Deficit
Capital Project Fund
17. 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
Enterprise Fund
Estimated Revenue
Expenditure Type
Line Type
18. Land - improvements to land - buildings - building improvements - vehicles - machinery - equipment - works of art and historical treasures - infrastructure - and all other tangible or intangible assets that are used in operations and that have initia
Physical Intentory
Genaral Revenue Allocation
Capital Assets
Fund Balance
19. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Internal Agreement
Genaral Revenue Allocation
Data Warehouse
20. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Governmental Funds
Supplier
Expenditures
Line Budget Item
21. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Raw Cost
Grant
Adopted Budget
Standard Purchase Order
22. Is derived from taxes - licenses - fees - and investment earnings.
Spending Funds
Direct Expense
Original Budget
Revenue
23. The most recently baselined budget version of the budget.
Current Budget
Purchase Requsition
Debt Service
Expenditures
24. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Fund
Revenue
Change Letter
Line Budget Item
25. Fund is an independent fiscla and accounting entity.
Fund
Enterprise Funds
Debt Service
Expenditures
26. 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
Productive Time
Capital Project
Purchase Requsition
General Purpose Revenue
27. 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
Avoidable Cost
Chart of Accounts
Internal Service Fund (ISF)
Board of Supervisors
28. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Internal Service Fund (ISF)
Capital Project Fund
Fiduciary
Board of Supervisors
29. 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.
Org.
Line Budget Item
Internal Service Fund (ISF)
Accounting Standards
30. 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
Data Warehouse
Expenditures
Genaral Revenue Allocation
31. The electronic process of mainaining an itemized list of current inventory.
Asset Management
Cost Budget
Grant
Blanket Purchase Agreement
32. 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.
Commitment
Proprietary Funds
Inventory Items
Full Tim Equivalency (FTE)
33. Enterprise Funds - Internal Service Fund
Indirect Project
Overrealized Revenue
Proprietary Funds
Direct Expense
34. 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
Capital Projects Funds
General Fund
Blanket Purchase Agreement
Org.
35. 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.
Grant
Internal Agreement
Capital Improvement Plan (CIP)
Full Tim Equivalency (FTE)
36. To approve an award budget for use in reporting and accounting.
Fiduciary Fund
Change Letter
Baseline
Internal Service Funds
37. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Funds
Capital Projects Funds
Encumbrance
Enterprise Funds
38. 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
Expenditures
Change Letter
Invoice
Line-Item Budget
39. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Cost Applied
Capital Outlay Fund (COA)
Accounting Standards
Capital Project
40. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Encumbrance Types
Grant
Cost Applied
Revenue
41. The of the cost of a fixed asset - other than a wasting asset - charged as an expense during a particular period. The cost of a fixed asses less any salvage value is prorated over the estimated service life of such an asset - and each period is charg
Enterprise Fund
Depreciation
Fiduciary Fund
Grant
42. 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.
Change Letter
Preliminary Budget
Accounting Standards
Debt Service
43. Accounts for the County's financial resources except those required to be accounted for in another fund.
Purchase Order
Capital Improvement Plan (CIP)
Capital Projects Funds
General Fund
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.
General Fund
Debt Service
Expenditure
Asset Management
45. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Purchase Requsition
Physical Intentory
Inventory Item
Baseline
46. 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).
Revenue
Indirect Cost of Expense
Indirect Project
Trust Fund
47. 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
Purchase Requsition
Asset
Direct Cost or Direct Expense
Revenue
48. Annual principal and interest payments that local government owes on borrowed money.
Asset Management
Direct Expense
Asset
Debt Service
49. 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.
Capital Project Fund
Special Revenue Fund
Fiduciary Fund
Program Budget
50. 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
Asset Inventory
Full Tim Equivalency (FTE)
Debt Service
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