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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. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Accounting Standards
Service and Supplies
Invoice
Debt Service Funds
2. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Deficit
Fund
Baseline
Raw Cost
3. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Capital Improvement
Fiduciary Fund
Governmental Funds
Asset
4. 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.
Accrual Basis of Accounting
Capital Budget
Avoidable Cost
Obligation
5. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Original Budget
Account Segment
Unanticipated Revenue
Supplier
6. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Contract or Contract Purchase Agreement (CPA)
Release
Indirect Project
Line Type
7. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Special Revenue Fund
Inventory Items
Program Budget
Bond
8. 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.
Revenue
Adopted Budget
Fund
Fiduciary Fund
9. Fund is an independent fiscla and accounting entity.
Internal Service Funds
Invoice
Fund
Capital Project
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).
Org.
Estimated Revenue
Bond
Encumbrance Types
11. The term used for major contsruction projects - the acqusition of land - and the investment in major Capital Assets in the County. The project assets are of significant value and have a useful life of five years or more. Imcude the purchase of land -
Capital Budget
Overrealized Revenue
Capital Project
Encumbrance
12. 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.
Standard Purchase Order
Capital Improvement Plan (CIP)
Productive Time
Asset Management
13. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Spending Funds
Encumbrance Types
Expensed Inventory
Revenue
14. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Overrealized Revenue
Project
Fund
Invoice
15. 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
Capital Outlay Fund (COA)
Proprietary Funds
Indirect Project
Capital Assets
16. The amount of revenue expected to accrue or to be collected during a fiscal year.
Asset Management
General Fund
Estimated Revenue
Trust Fund
17. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Line-Item Budget
Cost Budget
Invoice
Genaral Revenue Allocation
18. 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.
Adopted Budget
Asset Inventory
Overrealized Revenue
Fixed Asset
19. 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
Supplier
Asset Inventory
Unanticipated Revenue
Capital Improvement
20. 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.
Invoise Types
Capital Improvement Plan (CIP)
Project
Spending Funds
21. A fund used to account for the financing of good or services provided by one department to other departments of the County - or to other governmental units - on a cost-reimbursement basis.
General Purpose Revenue
Depreciation
Internal Service Fund (ISF)
Expenditures
22. An accounting device established to control receipts and disbursements set aside to support specific activities.
Reserve
Revenue
Award
Fund
23. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Proprietary Funds
Accounting Standards
Special Revenue Fund
Physical Intentory
24. 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.
Invoice
Governmental Funds
Expenditure
Bond
25. The most recently baselined budget version of the budget.
Full Cost
Account Segment
Inventory Items
Current Budget
26. The budget amounts for a project at the first successful Baselining of the project.
Direct Cost or Direct Expense
Cost Budget
Original Budget
Estimated Revenue
27. 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.
Revenue
Accounting Standards
Release
Capital Budget
28. 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.
Expensed Inventory
Account
Purchase Order
Proprietary Funds
29. The amount of revenue expected to accrue or to be collected during a fiscal year.
Funds Available
Capital Projects Funds
Estimated Revenue
Grant
30. 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.
Reserve
Depreciation
Award
Activity- Based Costing (ABC)
31. 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.
Expenditure Type
Fiduciary Fund
Full Tim Equivalency (FTE)
Adopted Budget/Operational Plan
32. 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.
Release
Full Tim Equivalency (FTE)
General Purpose Revenue
Pension and other employee benefit Trust Fund
33. 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).
Revenue
Invoice
Purchase Order
Cash Basis of Accounting
34. A self-balancing set of accounts.
Special Revenu Fund
Debt Service Funds
Fund
Asset
35. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Original Budget
Appropriation
Fund Balance
Unanticipated Revenue
36. The account structure an enterprise uses to record transactions and maintain account balances.
Chart of Accounts
Adopted Budget
Asset Management
Obligation
37. 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 ).
Indirect Project
Cash Basis of Accounting
Bond
Expenditure Type
38. 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
Capital Improvement Plan (CIP)
Preliminary Budget
Accounting Standards
Bond
39. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Change Letter
Average Balance
Depreciate
Cost Budget
40. Are established by the Board of Supervisors and include Airports - Wastewater Management and Transit Enterprise Funds - County Sanitation Districts and various Internal Service Funds ( General Services Fleet Maintenance - Facilities Management and Do
Encumbrance Types
Enterprise Fund
Project
Raw Cost
41. An account that contains money set aside for a legaly restricted specifi future use.
Average Balance
Reserve
Asset Inventory
Fund
42. 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.
Direct Expense
Purchase Order
Award
Debt Service Funds
43. 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
Fund
Expensed Inventory
Proprietary Funds
44. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Expenditure Type
Asset Inventory
Full Tim Equivalency (FTE)
Debt Service Funds
45. 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
Capital Project Fund
Capital Improvement
Fund
Board of Supervisors
46. 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).
Direct Cost or Direct Expense
Expenditure Type
Capital Improvement Plan (CIP)
Grant
47. Units of work that can be broken down into one or more task to capture and related revenue.
Physical Intentory
Governmental Funds
Project
Fiduciary Fund
48. 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 - as distiquished from overhead and other indirect costs which most be prorated among several products or services - dep
Supplier
Direct Expense
Revenue
Purchase Requsition
49. 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
Purchase Requsition
Line Budget Item
Debt Service Funds
Unanticipated Revenue
50. 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
Change Letter
Enterprise Fund
Capital Projects Funds