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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 fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Inventory Item
Revenue
Activity- Based Costing (ABC)
Special Revenu Fund
2. 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
Appropriation
Avoidable Cost
Raw Cost
Estimated Revenue
3. 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.
Fiduciary
Indirect Cost or Indirect Expense
Activity- Based Costing (ABC)
Commitment
4. 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
Revenue
Capital Project
Expenditure Type
5. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Proprietary Funds
Asset Inventory
Internal Service Funds
Physical Intentory
6. 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.
Expenditures
Release
Direct Expense
Encumbrance
7. 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
Line Budget Item
Proprietary Funds
Accrual Basis of Accounting
8. 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.
Encumbrance
Original Budget
Reserve
Adopted Budget/Operational Plan
9. 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.
Capital Improvement Plan (CIP)
Grant
Commitment
Fixed Asset
10. 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
Blanket Purchase Agreement
Revenue
Capital Improvement Plan (CIP)
Line-Item Budget
11. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Direct Expense
Line Type
General Purpose Revenue
Unanticipated Revenue
12. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Fund
Expenditure Type
Service and Supplies
Internal Agreement
13. Accounts for the County's financial resources except those required to be accounted for in another fund.
Cost Applied
Commitment
Spending Funds
General Fund
14. A payment of money or other assets from one governmental unit to another - from a governmental unit to a not-for-profit agency - or from a not-for-profit agency to a government. Often earmarked for a specific purpose or program.
Expenditure Type
Adopted Budget/Operational Plan
Grant
Program Budget
15. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Standard Purchase Order
Encumbrance Types
Funds
Overrealized Revenue
16. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Physical Intentory
Original Budget
Debt Service
Special Revenu Fund
17. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Productive Time
Project
Program Budget
Capital Project Fund
18. The budget amounts for a project at the first successful Baselining of the project.
Original Budget
Invoice
Direct Cost or Direct Expense
Avoidable Cost
19. 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
Fund
Capital Outlay Fund (COA)
Debt Service Funds
Force Account
20. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Invoice
Fund
Cash Basis of Accounting
General Fund
21. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Capital Project
Chart of Accounts
Invoise Types
Data Warehouse
22. 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.
Estimated Revenue
Award
Governmental Funds
Expenditure
23. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Supplier
Asset Inventory
Capital Project
Internal Service Funds
24. 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
Estimated Revenue
Revenue
Special Revenu Fund
25. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Account
Award
Purchase Order
Average Balance
26. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Expenditure
Contract or Contract Purchase Agreement (CPA)
Direct Expense
Capital Outlay Fund (COA)
27. 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
Encumbrance
Change Letter
Adopted Budget/Operational Plan
28. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Chart of Accounts
Estimated Revenue
Capital Budget
Pension and other employee benefit Trust Fund
29. 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.
Invoice
Physical Intentory
Productive Time
Capital Improvement Plan (CIP)
30. Units of work that can be broken down into one or more task to capture and related revenue.
Average Balance
Change Letter
Project
Internal Service Fund (ISF)
31. The difference between budgeted amounts and all actual and anticipated expenditures.
Internal Service Fund (ISF)
Org.
Project
Funds Available
32. The amount of revenue expected to accrue or to be collected during a fiscal year.
Invoice
Fund
Revenue
Estimated Revenue
33. Items that are stocked in intentory. Inventory is controlled by quantity and value. Remains an asset until it is consumed. The cost of an intentory items is recognized as an expense when it is consumed or sold.
Revenue
Internal Agreement
Revenue
Inventory Item
34. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Line Type
Proprietary Funds
Preliminary Budget
Expenditure Type
35. Trust Fund and Agency Funds
Depreciate
Fiduciary
Avoidable Cost
Invoice
36. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Encumbrance
Unanticipated Revenue
Deficit
Capital Outlay Fund (COA)
37. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Overrealized Revenue
Expensed Inventory
Special Revenu Fund
Capital Project
38. The electronic process of mainaining an itemized list of current inventory.
Deficit
Fiduciary Fund
Asset Management
Cost Applied
39. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Debt Service Funds
Full Tim Equivalency (FTE)
Internal Service Fund (ISF)
Deficit
40. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Cost Budget
Force Account
Internal Agreement
Full Cost
41. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Depreciation
Full Tim Equivalency (FTE)
Enterprise Funds
General Purpose Revenue
42. 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.
Accounting Standards
Average Balance
Capital Projects Funds
Full Cost
43. When the PO is created from the Requisiton in Purchasing. This action then relieves the Commitment encumbrance that was created by the Requsition and creates an Obligation.
Proprietary Funds
Obligation
Program Budget
Depreciation
44. 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).
Preliminary Budget
Expenditure
Award
Capital Projects Funds
45. 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
Enterprise Fund
Purchase Order
Inventory Item
46. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Line Budget Item
Fund
Indirect Project
Change Letter
47. The amount of revenue expected to accrue or to be collected during a fiscal year.
Activity- Based Costing (ABC)
Award
Estimated Revenue
Chart of Accounts
48. 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
Genaral Revenue Allocation
Activity- Based Costing (ABC)
Direct Expense
Reserve
49. A five-year list of planned capital projects - developed by the Department of General Services.
General Fund
Org.
Release
Capital Improvement Plan (CIP)
50. 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
Physical Intentory
Internal Service Fund (ISF)
Spending Funds
Enterprise Fund