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Test your basic knowledge |
Oracle Vocab
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oracle
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it-skills
Instructions:
Answer 50 questions in 15 minutes.
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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 excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Data Warehouse
Deficit
Proprietary Funds
Capital Budget
2. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Governmental Funds
Asset
Supplier
Direct Cost or Direct Expense
3. 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.
Indirect Project
Standard Purchase Order
Current Budget
Release
4. 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.
Fiduciary Fund
Fund
Internal Service Funds
Commitment
5. A fund used to account for assets held by a government in a trustee capacity for individuals - private organizations - other governments and/or other funds.
Trust Fund
Indirect Project
Reserve
Chart of Accounts
6. 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
Fiduciary Fund
Avoidable Cost
Debt Service
Invoice
7. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Current Budget
Account
Revenue
Funds Available
8. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Capital Improvement
Estimated Revenue
Invoise Types
Chart of Accounts
9. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Enterprise Fund
Adopted Budget/Operational Plan
Line Type
Proprietary Funds
10. 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.
Original Budget
Estimated Revenue
Debt Service
Productive Time
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 -
Physical Intentory
Encumbrance
Fund Balance
Expensed Inventory
12. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Average Balance
Cost Budget
Capital Project
Special Revenue Fund
13. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Pension and other employee benefit Trust Fund
Force Account
Bond
Overrealized Revenue
14. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Enterprise Funds
Capital Outlay Fund (COA)
Change Letter
Invoice
15. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Encumbrance
Internal Service Fund (ISF)
Capital Assets
Overrealized Revenue
16. An itemized statement of money owed for goods shipped or services rendered
Cash Basis of Accounting
Invoice
Accrual Basis of Accounting
Depreciation
17. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Special Revenue Fund
Genaral Revenue Allocation
Funds
Cost Budget
18. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Org.
Data Warehouse
Internal Service Fund (ISF)
Service and Supplies
19. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Fund Balance
Internal Agreement
Encumbrance Types
Proprietary Funds
20. 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
Adopted Budget/Operational Plan
General Purpose Revenue
Debt Service
21. 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
Board of Supervisors
Program Budget
Blanket Purchase Agreement
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.
Expenditure
Revenue
Internal Agreement
Commitment
23. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Asset Management
Physical Intentory
Service and Supplies
Invoice
24. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
General Purpose Revenue
Invoise Types
Indirect Project
General Fund
25. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Raw Cost
Commitment
Line Budget Item
Enterprise Fund
26. Annual principal and interest payments that local government owes on borrowed money.
Expensed Inventory
Line-Item Budget
Debt Service
Baseline
27. 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
Depreciation
Force Account
Trust Fund
Account
28. An account that contains money set aside for a legaly restricted specifi future use.
Expenditure Type
Physical Intentory
Reserve
Estimated Revenue
29. The most recently baselined budget version of the budget.
Data Warehouse
Inventory Item
Supplier
Current Budget
30. 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
Fund
Baseline Budget
Data Warehouse
31. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Bond
Estimated Revenue
Asset
Fiduciary Fund
32. 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.
Encumbrance
Depreciation
Accrual Basis of Accounting
Reserve
33. 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
Debt Service Funds
Data Warehouse
Expensed Inventory
34. 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.
Special Revenue Fund
Release
Invoice
Trust Fund
35. 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.
Full Cost
Enterprise Fund
Fund
Capital Project
36. 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
Appropriation
Capital Project
Debt Service Funds
Depreciate
37. 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.
Estimated Revenue
Purchase Requsition
Proprietary Funds
Capital Budget
38. 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.
Avoidable Cost
Enterprise Fund
Activity- Based Costing (ABC)
Fixed Asset
39. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Capital Project Fund
Capital Outlay Fund (COA)
General Purpose Revenue
Governmental Funds
40. An accounting device established to control receipts and disbursements set aside to support specific activities.
Force Account
Trust Fund
Fund
Inventory Items
41. Trust Fund and Agency Funds
Enterprise Fund
Cost Budget
Fiduciary
Revenue
42. Those elements of cost necessary in the production of an article or the performance of a service but no an integral part of the finished product or service - such as rent - heat - light - supplies - management - supervision - etc.
Special Revenue Fund
Change Letter
Indirect Cost of Expense
Internal Service Funds
43. The budget amounts for a project at the first successful Baselining of the project.
Proprietary Funds
Original Budget
Contract or Contract Purchase Agreement (CPA)
Line Budget Item
44. 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.
Grant
Project
Internal Service Fund (ISF)
Expensed Inventory
45. 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
Fund Balance
Reserve
Pension and other employee benefit Trust Fund
Encumbrance Types
46. 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
Service and Supplies
Asset
Line-Item Budget
Enterprise Funds
47. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Fund
Change Letter
Revenue
Encumbrance Types
48. A self-balancing set of accounts.
Encumbrance Types
Blanket Purchase Agreement
Overrealized Revenue
Fund
49. 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
Genaral Revenue Allocation
Internal Service Fund (ISF)
Fund Balance
Supplier
50. 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
Fund
Revenue
Bond
Program Budget
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