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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 amount of revenue expected to accrue or to be collected during a fiscal year.
General Purpose Revenue
Estimated Revenue
Bond
Spending Funds
2. 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
Indirect Cost of Expense
Average Balance
Fund
3. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Reserve
Unanticipated Revenue
Encumbrance
Indirect Cost of Expense
4. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Org.
Award
Depreciation
Account Segment
5. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Account Segment
Change Letter
Encumbrance Types
Revenue
6. 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
Asset Management
General Fund
Full Tim Equivalency (FTE)
Internal Service Fund (ISF)
7. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Overrealized Revenue
Blanket Purchase Agreement
Adopted Budget
Standard Purchase Order
8. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Fiduciary
Full Cost
Expenditure
Governmental Funds
9. 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
Capital Project
Encumbrance Types
Line-Item Budget
Change Letter
10. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Fiduciary Fund
Account
Capital Outlay Fund (COA)
Reserve
11. The amount of revenue expected to accrue or to be collected during a fiscal year.
Account
Estimated Revenue
Invoice
Fund
12. 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
Invoice
Genaral Revenue Allocation
Indirect Cost or Indirect Expense
13. Accounts for the County's financial resources except those required to be accounted for in another fund.
General Fund
Overrealized Revenue
Encumbrance
Release
14. 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.
Board of Supervisors
Capital Project
Fiduciary
Grant
15. 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
Adopted Budget
Estimated Revenue
Fund Balance
Supplier
16. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Accounting Standards
Line Budget Item
Debt Service
General Fund
17. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Cash Basis of Accounting
Pension and other employee benefit Trust Fund
Full Cost
Internal Service Fund (ISF)
18. 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.
Board of Supervisors
Capital Improvement Plan (CIP)
Enterprise Fund
Purchase Order
19. An itemized statement of money owed for goods shipped or services rendered
Accrual Basis of Accounting
Capital Project Fund
Line Type
Invoice
20. 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 Assets
Debt Service Funds
Encumbrance Types
Bond
21. 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.
Depreciation
Productive Time
Obligation
Change Letter
22. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Fixed Asset
Invoice
Inventory Items
Revenue
23. 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
Indirect Cost or Indirect Expense
Line-Item Budget
Account
Baseline
24. 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.
Cost Applied
Encumbrance
Standard Purchase Order
Internal Service Funds
25. 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.
Revenue
Project
Productive Time
General Purpose Revenue
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).
Encumbrance Types
Fund
Appropriation
Preliminary Budget
27. 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).
Fund Balance
Accounting Standards
Enterprise Fund
Revenue
28. 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.
Productive Time
Adopted Budget/Operational Plan
Indirect Cost of Expense
Average Balance
29. 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
Special Revenue Fund
Estimated Revenue
Encumbrance Types
30. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Capital Project
Org.
Invoice
Baseline Budget
31. Accounts for the accumulation for and the payment of general long-term principal and interest.
Debt Service Funds
Reserve
Revenue
Encumbrance
32. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Debt Service Funds
Reserve
Debt Service
Appropriation
33. 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 ).
Chart of Accounts
Indirect Project
Inventory Items
Enterprise Funds
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.
Activity- Based Costing (ABC)
Award
Invoise Types
General Fund
35. 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 -
Unanticipated Revenue
Encumbrance
Change Letter
General Fund
36. 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.
Data Warehouse
Capital Project
Capital Budget
Indirect Cost or Indirect Expense
37. The budget amounts for a project at the first successful Baselining of the project.
Original Budget
Depreciation
Debt Service Funds
Indirect Cost of Expense
38. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Adopted Budget
Supplier
Org.
Expensed Inventory
39. Units of work that can be broken down into one or more task to capture and related revenue.
Revenue
Original Budget
Capital Budget
Project
40. A legal authorization to make expenditures or to enter into obligations for specific purposes. An appropriation is usually limited in amount for each department or fund of the County and as to the time when it may be expended - normally only during t
General Fund
Appropriation
Funds
Bond
41. 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.
Depreciate
Full Cost
Direct Cost or Direct Expense
Data Warehouse
42. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Capital Budget
Current Budget
Encumbrance Types
Asset
43. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Baseline Budget
Unanticipated Revenue
Capital Outlay Fund (COA)
Cash Basis of Accounting
44. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Raw Cost
Unanticipated Revenue
Cost Applied
Revenue
45. 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).
Inventory Item
Invoice
Capital Projects Funds
Indirect Project
46. The account structure an enterprise uses to record transactions and maintain account balances.
Raw Cost
Grant
Chart of Accounts
Proprietary Funds
47. 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
Expenditure
Encumbrance Types
Line Budget Item
Award
48. 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
Trust Fund
Line Type
Avoidable Cost
General Purpose Revenue
49. 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).
Asset Management
Capital Improvement
Org.
Pension and other employee benefit Trust Fund
50. An accounting device established to control receipts and disbursements set aside to support specific activities.
Data Warehouse
Obligation
Fund
Commitment