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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. 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.
Appropriation
Proprietary Funds
Capital Projects Funds
Purchase Requsition
2. 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
Fund
Inventory Items
Depreciate
Enterprise Fund
3. 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
Funds
Depreciation
Capital Improvement
Encumbrance Types
4. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Supplier
Indirect Cost or Indirect Expense
Blanket Purchase Agreement
Governmental Funds
5. 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
Expensed Inventory
General Fund
Bond
Line Type
6. Accounts for the accumulation for and the payment of general long-term principal and interest.
Debt Service Funds
Force Account
General Fund
Depreciate
7. 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
Obligation
Bond
Capital Assets
Spending Funds
8. 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.
Grant
Line-Item Budget
Invoice
Award
9. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Capital Projects Funds
Cost Budget
Capital Improvement Plan (CIP)
Enterprise Fund
10. 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
Expenditure Type
Project
Estimated Revenue
11. 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 -
Encumbrance
Capital Improvement Plan (CIP)
Encumbrance Types
General Purpose Revenue
12. An accounting device established to control receipts and disbursements set aside to support specific activities.
Line Type
Invoise Types
Fund
Internal Service Fund (ISF)
13. A five-year list of planned capital projects - developed by the Department of General Services.
Capital Improvement Plan (CIP)
Direct Cost or Direct Expense
Fiduciary Fund
Special Revenue Fund
14. 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.
Fiduciary Fund
Spending Funds
Inventory Item
Debt Service
15. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Capital Project
Unanticipated Revenue
Asset Management
Debt Service
16. 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).
Expenditure Type
Inventory Item
Estimated Revenue
Funds
17. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Cost Applied
Release
Estimated Revenue
Full Tim Equivalency (FTE)
18. An itemized statement of money owed for goods shipped or services rendered
Invoice
General Purpose Revenue
Fund
Adopted Budget/Operational Plan
19. As a political subdivision of the State of California - the County is governed by a five- member Board of Supervisor - which has legislative and executed authority. Each member of the Board of Supervisors is elected by geographic district.
Release
Board of Supervisors
Internal Service Fund (ISF)
General Fund
20. 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.
Internal Agreement
General Fund
Commitment
Productive Time
21. The spread of an assets cost over the time period it is used.
Depreciate
Fund Balance
Enterprise Fund
Capital Project
22. A type of purchase order that can be issued for delivery of goods or services for specific dates and locations. Each standard purchase order line can have multiple shipments and ca distribute the quantity of each shipment across multiple accounts.
Standard Purchase Order
Board of Supervisors
Encumbrance
General Fund
23. 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).
Direct Cost or Direct Expense
Org.
Obligation
Full Cost
24. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Commitment
Fiduciary Fund
Internal Service Fund (ISF)
Supplier
25. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Capital Project Fund
Deficit
Bond
Line-Item Budget
26. Trust Fund and Agency Funds
Capital Outlay Fund (COA)
Fiduciary
Direct Cost or Direct Expense
Blanket Purchase Agreement
27. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Baseline
Encumbrance
Cash Basis of Accounting
Overrealized Revenue
28. 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
Standard Purchase Order
Capital Projects Funds
Internal Agreement
Fund
29. Units of work that can be broken down into one or more task to capture and related revenue.
General Fund
Change Letter
Deficit
Project
30. Expenditures related to the acquisition - expansion - or rehabilitatin of major fixed assets - such as land - buildings - structures - and certain types of equipment; remodeling/upgrades which improve or enhance the use of an existing facility or spa
Funds Available
Capital Improvement
Cash Basis of Accounting
Governmental Funds
31. 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.
Contract or Contract Purchase Agreement (CPA)
Debt Service
General Purpose Revenue
Baseline Budget
32. 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 ).
General Purpose Revenue
Org.
Indirect Project
Funds Available
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.
Project
Change Letter
Capital Assets
Inventory Item
34. 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
Line Budget Item
Project
Encumbrance
Line-Item Budget
35. 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
Physical Intentory
Invoice
Capital Project
Debt Service
36. An account that contains money set aside for a legaly restricted specifi future use.
Service and Supplies
Reserve
Proprietary Funds
Depreciation
37. A grant - subsidy - revenue agreement - revenue contract - or specific funding which is allocated to an organization for a specific purpose(s) and can be used to fund one or more projects - An award is usually billed or invoiced to a Customer ( i.e.
Capital Improvement Plan (CIP)
Supplier
Appropriation
Award
38. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Genaral Revenue Allocation
Expenditure
Org.
Proprietary Funds
39. The difference between budgeted amounts and all actual and anticipated expenditures.
Funds Available
Line Type
Avoidable Cost
Accrual Basis of Accounting
40. 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.
Direct Expense
Line-Item Budget
Unanticipated Revenue
Expensed Inventory
41. Annual principal and interest payments that local government owes on borrowed money.
Account Segment
Line-Item Budget
Debt Service
Estimated Revenue
42. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
General Fund
Pension and other employee benefit Trust Fund
Project
Account Segment
43. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Service and Supplies
Fund
Funds
Deficit
44. 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).
Adopted Budget
General Purpose Revenue
Internal Service Fund (ISF)
Revenue
45. 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.
General Purpose Revenue
Baseline
Debt Service Funds
Unanticipated Revenue
46. The most recently baselined budget version of the budget.
Funds
Current Budget
Baseline
General Fund
47. 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.
Fixed Asset
Chart of Accounts
Cost Budget
Line Type
48. The amount of revenue expected to accrue or to be collected during a fiscal year.
Internal Agreement
Estimated Revenue
Cost Budget
Commitment
49. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Encumbrance Types
Capital Improvement
Debt Service Funds
Invoise Types
50. Fund is an independent fiscla and accounting entity.
Adopted Budget
Encumbrance Types
Special Revenu Fund
Fund