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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 document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Blanket Purchase Agreement
Enterprise Funds
Invoice
Internal Agreement
2. 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.
Supplier
Standard Purchase Order
Fixed Asset
Cost Applied
3. Trust Fund and Agency Funds
Data Warehouse
Revenue
Fiduciary
Indirect Cost or Indirect Expense
4. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Average Balance
Pension and other employee benefit Trust Fund
Capital Outlay Fund (COA)
Expensed Inventory
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
Bond
Debt Service Funds
Inventory Item
Line-Item Budget
6. 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.
Award
Inventory Item
Encumbrance Types
Preliminary Budget
7. 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.
Current Budget
Supplier
General Fund
Commitment
8. 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
Internal Service Fund (ISF)
Reserve
Raw Cost
9. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Encumbrance Types
Account Segment
General Purpose Revenue
Change Letter
10. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Invoice
Program Budget
Revenue
Purchase Requsition
11. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Overrealized Revenue
Genaral Revenue Allocation
Inventory Items
Capital Improvement
12. 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 ).
Bond
Expenditure
Indirect Project
Account
13. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Asset Inventory
Fund
Service and Supplies
Invoise Types
14. 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.
Grant
Accounting Standards
Internal Service Fund (ISF)
Funds Available
15. An account that contains money set aside for a legaly restricted specifi future use.
Adopted Budget/Operational Plan
Reserve
Indirect Project
Capital Improvement
16. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Pension and other employee benefit Trust Fund
Overrealized Revenue
Line Budget Item
Capital Assets
17. 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.
Fund
Avoidable Cost
Project
Purchase Order
18. Annual principal and interest payments that local government owes on borrowed money.
Debt Service
General Fund
Indirect Project
Fund
19. A spending plan for improvements to or acquisition of land - facilities - and infrastructure. The capital budget balances revenues and expenditures - specifies the sources of revenues - and lists each project or acquisition.
General Purpose Revenue
Capital Budget
Capital Projects Funds
Expensed Inventory
20. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Invoice
Trust Fund
Cost Applied
Encumbrance Types
21. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Cash Basis of Accounting
Accounting Standards
Estimated Revenue
Proprietary Funds
22. 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).
Line-Item Budget
Revenue
Capital Outlay Fund (COA)
Invoise Types
23. 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.
Inventory Items
Contract or Contract Purchase Agreement (CPA)
Depreciation
Expenditure
24. The budget amounts for a project at the first successful Baselining of the project.
Current Budget
Line Type
Original Budget
Overrealized Revenue
25. 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.
Grant
Inventory Item
Encumbrance Types
Release
26. 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.
Capital Budget
Depreciation
Internal Service Funds
Physical Intentory
27. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Adopted Budget/Operational Plan
Depreciation
Depreciate
Special Revenu Fund
28. 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
Force Account
Estimated Revenue
Special Revenue Fund
Internal Service Fund (ISF)
29. Is derived from taxes - licenses - fees - and investment earnings.
Revenue
Expenditure Type
Expenditure
Governmental Funds
30. 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
Expensed Inventory
Capital Outlay Fund (COA)
Blanket Purchase Agreement
Original Budget
31. An itemized statement of money owed for goods shipped or services rendered
Invoice
Expenditure
Grant
Capital Project
32. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Raw Cost
Encumbrance
Expensed Inventory
Line Type
33. 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.
Data Warehouse
Account
Commitment
Capital Project
34. 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.
Current Budget
Line Type
Adopted Budget
Activity- Based Costing (ABC)
35. 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
Current Budget
Encumbrance
Capital Project
Fund
36. The amount of revenue expected to accrue or to be collected during a fiscal year.
Purchase Order
Capital Assets
Avoidable Cost
Estimated Revenue
37. 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.
Capital Projects Funds
Inventory Item
Capital Improvement Plan (CIP)
Encumbrance Types
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
Line-Item Budget
Capital Budget
Preliminary Budget
Asset
39. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Fiduciary
Encumbrance Types
Governmental Funds
Spending Funds
40. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Grant
Spending Funds
Special Revenue Fund
Contract or Contract Purchase Agreement (CPA)
41. 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.
Capital Assets
Obligation
Indirect Cost or Indirect Expense
Invoise Types
42. The spread of an assets cost over the time period it is used.
Capital Project Fund
Bond
Depreciate
Estimated Revenue
43. Accounts for the County's financial resources except those required to be accounted for in another fund.
Fund Balance
Current Budget
Debt Service
General Fund
44. 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 Funds
Debt Service Funds
Governmental Funds
Depreciation
45. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Standard Purchase Order
Current Budget
Physical Intentory
Asset
46. 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.
Internal Service Fund (ISF)
Purchase Requsition
Asset Inventory
Indirect Cost or Indirect Expense
47. 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
Pension and other employee benefit Trust Fund
Invoice
Release
Internal Service Fund (ISF)
48. 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.
Direct Cost or Direct Expense
Fund Balance
Fiduciary Fund
Original Budget
49. 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.
Enterprise Fund
General Fund
Purchase Requsition
Inventory Items
50. 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
Estimated Revenue
Capital Project
General Purpose Revenue
Current Budget