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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. 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.
Adopted Budget
Fund
General Fund
Accrual Basis of Accounting
2. 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.
Spending Funds
Release
Line-Item Budget
Baseline Budget
3. 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
Funds
Fund
Indirect Cost or Indirect Expense
Standard Purchase Order
4. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Internal Service Funds
Purchase Order
Grant
Revenue
5. 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.
Productive Time
Fiduciary Fund
Data Warehouse
Debt Service
6. Fund is an independent fiscla and accounting entity.
Fund
Bond
Debt Service Funds
Standard Purchase Order
7. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Proprietary Funds
Baseline
Capital Assets
Service and Supplies
8. 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.
Expenditures
Genaral Revenue Allocation
Invoice
Internal Service Fund (ISF)
9. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Debt Service Funds
Program Budget
Grant
Account Segment
10. 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).
Proprietary Funds
Special Revenu Fund
Org.
Revenue
11. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Encumbrance
Current Budget
Capital Project Fund
Full Cost
12. 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.
Board of Supervisors
Enterprise Funds
Expensed Inventory
Full Cost
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
Baseline
Capital Project Fund
Trust Fund
Avoidable Cost
14. Accounts for the County's financial resources except those required to be accounted for in another fund.
Board of Supervisors
Supplier
General Fund
Debt Service Funds
15. 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
Grant
Inventory Items
Full Cost
Invoice
16. Enterprise Funds - Internal Service Fund
Proprietary Funds
Funds Available
Org.
Board of Supervisors
17. The difference between a fund's assets and its liabilites. A surplus or deficit of assets over liabilites and reserves within a specific fund or organizational unit. A comparison of projected ependitures and revenues with related appropriations. Port
Avoidable Cost
Capital Project Fund
Fund Balance
Proprietary Funds
18. 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
Fund
Force Account
Blanket Purchase Agreement
19. 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.
Indirect Cost or Indirect Expense
Full Cost
Line-Item Budget
Encumbrance
20. 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)
Direct Expense
Funds
Raw Cost
21. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Overrealized Revenue
Fixed Asset
Funds Available
Special Revenu Fund
22. 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.
Commitment
Capital Budget
Inventory Item
Adopted Budget
23. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Capital Outlay Fund (COA)
Cash Basis of Accounting
Asset Management
Spending Funds
24. 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.
Full Cost
Adopted Budget/Operational Plan
Cost Applied
Expenditures
25. 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.
Program Budget
Blanket Purchase Agreement
Special Revenue Fund
General Purpose Revenue
26. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Capital Assets
Overrealized Revenue
Capital Projects Funds
Capital Improvement Plan (CIP)
27. 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
General Fund
Revenue
Revenue
28. 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 -
Invoice
Revenue
Enterprise Fund
Encumbrance
29. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Baseline Budget
Raw Cost
Capital Budget
Expenditure
30. 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.
Spending Funds
Estimated Revenue
General Purpose Revenue
Internal Service Fund (ISF)
31. 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.
Invoice
Internal Agreement
Grant
Line Budget Item
32. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Internal Service Fund (ISF)
Governmental Funds
Adopted Budget
Productive Time
33. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Estimated Revenue
Invoice
Line Type
Physical Intentory
34. Annual principal and interest payments that local government owes on borrowed money.
Grant
Expensed Inventory
Debt Service
General Fund
35. The budget amounts for a project at the first successful Baselining of the project.
Internal Service Fund (ISF)
Capital Project
Adopted Budget
Original Budget
36. To approve an award budget for use in reporting and accounting.
Baseline
Grant
Trust Fund
Physical Intentory
37. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Obligation
Direct Cost or Direct Expense
Invoice
Account Segment
38. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Physical Intentory
Internal Service Fund (ISF)
Cost Applied
Account Segment
39. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Fund
Reserve
Cost Budget
Expenditure Type
40. 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 ).
Release
Indirect Project
Board of Supervisors
Fund
41. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Baseline Budget
Enterprise Fund
Debt Service
Invoise Types
42. 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
Revenue
Fund
Governmental Funds
Supplier
43. 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
Funds
Change Letter
Indirect Cost or Indirect Expense
Capital Project
44. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Internal Service Fund (ISF)
Avoidable Cost
Baseline Budget
Accounting Standards
45. 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
Capital Assets
Inventory Item
Force Account
Fiduciary Fund
46. 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
Raw Cost
Activity- Based Costing (ABC)
Capital Assets
Asset Management
47. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Program Budget
Avoidable Cost
Debt Service
48. 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.
Cash Basis of Accounting
Obligation
Grant
Activity- Based Costing (ABC)
49. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Estimated Revenue
Grant
Revenue
Invoice
50. 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
Revenue
Proprietary Funds
Reserve