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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 classification of cost that is assigned to each expenditure items. Expenditure types are grouped into cost groups ( expenditure categories) and revenue groups ( revenue categories).
Depreciation
General Purpose Revenue
Expenditure Type
Change Letter
2. 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
Accrual Basis of Accounting
Activity- Based Costing (ABC)
Capital Project
Invoice
3. 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.
Fund
Fund
Release
Grant
4. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Enterprise Fund
Invoice
Line-Item Budget
Genaral Revenue Allocation
5. 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
Direct Expense
Physical Intentory
Accounting Standards
Capital Improvement
6. 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.
Full Cost
Fixed Asset
Fund
Internal Agreement
7. 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.
Depreciation
Release
Appropriation
Debt Service Funds
8. 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
Genaral Revenue Allocation
Accrual Basis of Accounting
Proprietary Funds
9. The electronic process of mainaining an itemized list of current inventory.
General Fund
Asset Management
Capital Budget
Invoice
10. 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
Fund
Enterprise Fund
Release
Capital Project
11. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Depreciation
Trust Fund
Capital Projects Funds
12. 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.
Capital Project
Capital Outlay Fund (COA)
Program Budget
Purchase Order
13. 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
Standard Purchase Order
Encumbrance
Fund
Avoidable Cost
14. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Estimated Revenue
Capital Project
Genaral Revenue Allocation
Special Revenu Fund
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
Encumbrance
Governmental Funds
Internal Agreement
16. 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.
Capital Project
Commitment
Grant
Reserve
17. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Fiduciary Fund
Governmental Funds
Funds Available
General Fund
18. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Data Warehouse
Commitment
General Purpose Revenue
Indirect Cost or Indirect Expense
19. Enterprise Funds - Internal Service Fund
Inventory Items
Proprietary Funds
Grant
Reserve
20. 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.
Indirect Cost or Indirect Expense
Revenue
Capital Budget
Fiduciary Fund
21. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Adopted Budget/Operational Plan
Encumbrance
Unanticipated Revenue
Funds Available
22. 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.
Debt Service Funds
Purchase Order
Activity- Based Costing (ABC)
Spending Funds
23. 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.
Obligation
Adopted Budget/Operational Plan
Preliminary Budget
Invoice
24. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Avoidable Cost
Expensed Inventory
Raw Cost
Data Warehouse
25. 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.
Org.
Expenditure Type
Asset Inventory
Enterprise Fund
26. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Award
Internal Service Funds
Accrual Basis of Accounting
Encumbrance Types
27. A five-year list of planned capital projects - developed by the Department of General Services.
Purchase Order
Depreciation
Capital Improvement Plan (CIP)
Accounting Standards
28. 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.
Inventory Item
Capital Assets
Grant
Indirect Cost or Indirect Expense
29. 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
Overrealized Revenue
Capital Assets
Program Budget
Grant
30. 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.
Estimated Revenue
Grant
Asset Management
Inventory Item
31. 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
Invoise Types
Overrealized Revenue
Line Budget Item
Data Warehouse
32. An accounting device established to control receipts and disbursements set aside to support specific activities.
Enterprise Fund
Current Budget
Fund
Revenue
33. 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.
Internal Agreement
Pension and other employee benefit Trust Fund
Fiduciary
Preliminary Budget
34. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Enterprise Fund
Debt Service Funds
Baseline
General Fund
35. The spread of an assets cost over the time period it is used.
Capital Improvement
Indirect Cost of Expense
Trust Fund
Depreciate
36. 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.
Grant
Original Budget
Full Cost
Chart of Accounts
37. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Current Budget
Baseline Budget
Unanticipated Revenue
Contract or Contract Purchase Agreement (CPA)
38. The account structure an enterprise uses to record transactions and maintain account balances.
Asset
Genaral Revenue Allocation
Chart of Accounts
Account Segment
39. The most recently baselined budget version of the budget.
Reserve
Current Budget
Funds Available
Chart of Accounts
40. Use of an appropriation to purchse goods and services necessary to carry out the responsibilities of a department or organization. Expenditures are decreases in net financial resources.
Internal Service Funds
Invoice
Expenditures
Physical Intentory
41. 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.
Grant
Purchase Requsition
Fund
Funds Available
42. 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
Direct Cost or Direct Expense
Fixed Asset
Fiduciary
Line-Item Budget
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.
Chart of Accounts
Governmental Funds
Reserve
Funds
44. 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 ).
Genaral Revenue Allocation
Capital Improvement Plan (CIP)
Expenditure
Indirect Project
45. 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.
Overrealized Revenue
Line Budget Item
Encumbrance
Grant
46. To approve an award budget for use in reporting and accounting.
Fund
Baseline
Grant
Depreciate
47. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
General Fund
Enterprise Funds
Fund
Revenue
48. 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.
Overrealized Revenue
Bond
Expenditure
Adopted Budget/Operational Plan
49. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Obligation
Indirect Project
Line Type
Invoise Types
50. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Supplier
Grant
Account Segment
Original Budget