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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. 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).
Accounting Standards
Project
Capital Projects Funds
Revenue
2. 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
Special Revenue Fund
Unanticipated Revenue
Standard Purchase Order
Enterprise Fund
3. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Bond
Pension and other employee benefit Trust Fund
Project
Governmental Funds
4. 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
Average Balance
Indirect Cost or Indirect Expense
Internal Service Fund (ISF)
Depreciation
5. Accounts for the County's financial resources except those required to be accounted for in another fund.
Fiduciary Fund
Service and Supplies
Program Budget
General Fund
6. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Accrual Basis of Accounting
Governmental Funds
Line Type
Debt Service Funds
7. The amount of direct and indirect costs that would be reduced or eliminated if a service currently provided by County staff were to be provided by contract. These costs are typically include all direct and variable costs - as well as any portions of
Avoidable Cost
Current Budget
Funds Available
Fund
8. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Capital Assets
Depreciation
Deficit
Expenditure Type
9. 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)
Special Revenu Fund
Funds
Physical Intentory
10. 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.
Full Cost
Internal Agreement
Capital Improvement Plan (CIP)
Internal Service Fund (ISF)
11. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
General Fund
Data Warehouse
Capital Project
Estimated Revenue
12. The budget amounts for a project at the first successful Baselining of the project.
Original Budget
Fiduciary Fund
Preliminary Budget
Baseline Budget
13. 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.
Invoice
Depreciation
Encumbrance Types
Baseline Budget
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.
Revenue
Adopted Budget/Operational Plan
Reserve
Proprietary Funds
15. 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
Appropriation
Full Cost
Overrealized Revenue
Contract or Contract Purchase Agreement (CPA)
16. An Actual order(sub-order) of goods and services issued against a Blanket Purchase Agreement (BPA) for actual delivery with specified quantities - dates and the accounting information.
Physical Intentory
Adopted Budget
Release
Capital Assets
17. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Original Budget
Internal Service Fund (ISF)
Overrealized Revenue
Encumbrance
18. 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.
Encumbrance
Fund
Asset Inventory
Governmental Funds
19. Trust Fund and Agency Funds
Capital Assets
Capital Projects Funds
Fiduciary
Estimated Revenue
20. To approve an award budget for use in reporting and accounting.
Obligation
Avoidable Cost
Fund
Baseline
21. 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.
Obligation
Purchase Requsition
General Fund
Adopted Budget
22. A five-year list of planned capital projects - developed by the Department of General Services.
Estimated Revenue
Capital Improvement Plan (CIP)
Deficit
Chart of Accounts
23. 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.
Encumbrance
Expenditure
Grant
Purchase Order
24. 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
Revenue
Debt Service Funds
Estimated Revenue
25. 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.
Depreciation
Activity- Based Costing (ABC)
Internal Agreement
Genaral Revenue Allocation
26. Is derived from taxes - licenses - fees - and investment earnings.
Debt Service
Invoice
Debt Service
Revenue
27. 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.
Encumbrance
Fixed Asset
Enterprise Fund
Capital Improvement
28. 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).
Funds
Original Budget
Expenditure Type
Debt Service
29. The amount of revenue expected to accrue or to be collected during a fiscal year.
Invoice
Reserve
Estimated Revenue
Expensed Inventory
30. 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
Genaral Revenue Allocation
Line Budget Item
Estimated Revenue
Full Tim Equivalency (FTE)
31. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Avoidable Cost
Physical Intentory
Contract or Contract Purchase Agreement (CPA)
Internal Service Funds
32. 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
Current Budget
Capital Improvement Plan (CIP)
Bond
Trust Fund
33. 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.
Direct Expense
Preliminary Budget
Unanticipated Revenue
Spending Funds
34. 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
Depreciation
Data Warehouse
Fiduciary Fund
35. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Reserve
Board of Supervisors
Baseline Budget
Debt Service Funds
36. Enterprise Funds - Internal Service Fund
Revenue
Encumbrance Types
Capital Assets
Proprietary Funds
37. 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
Inventory Items
Governmental Funds
Capital Assets
Current Budget
38. 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
Asset
Fund
Genaral Revenue Allocation
Internal Service Fund (ISF)
39. 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.
Expensed Inventory
Program Budget
Adopted Budget
Capital Outlay Fund (COA)
40. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Capital Budget
Capital Project Fund
Line Type
Revenue
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.
Spending Funds
Internal Service Fund (ISF)
Indirect Cost or Indirect Expense
Unanticipated Revenue
42. 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.
Original Budget
Account
Cash Basis of Accounting
Purchase Order
43. Annual principal and interest payments that local government owes on borrowed money.
Debt Service
Baseline Budget
Adopted Budget
Fiduciary
44. 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.
Indirect Cost of Expense
Internal Service Fund (ISF)
Expenditures
Purchase Requsition
45. 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.
Contract or Contract Purchase Agreement (CPA)
Deficit
Blanket Purchase Agreement
Accounting Standards
46. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Genaral Revenue Allocation
Fiduciary
Direct Expense
Contract or Contract Purchase Agreement (CPA)
47. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Overrealized Revenue
Cost Applied
Depreciation
Purchase Order
48. 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.
Invoice
Invoice
Expenditure Type
General Fund
49. The difference between budgeted amounts and all actual and anticipated expenditures.
Invoice
Baseline Budget
General Fund
Funds Available
50. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Special Revenu Fund
Governmental Funds
Preliminary Budget
Full Cost