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Oracle Vocab
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Subjects
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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. 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
Reserve
Avoidable Cost
Special Revenue Fund
Purchase Requsition
2. An accounting device established to control receipts and disbursements set aside to support specific activities.
Activity- Based Costing (ABC)
Asset Inventory
Trust Fund
Fund
3. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Capital Project
Line Type
Enterprise Fund
Proprietary Funds
4. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Direct Expense
Indirect Cost of Expense
Internal Service Funds
Fund
5. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Invoice
Funds
Asset Inventory
Grant
6. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Bond
Account Segment
Account
Proprietary Funds
7. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Spending Funds
Baseline Budget
Raw Cost
Debt Service
8. An itemized statement of money owed for goods shipped or services rendered
Fund
Invoice
Board of Supervisors
Fund
9. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Cash Basis of Accounting
Raw Cost
Project
Genaral Revenue Allocation
10. 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
Full Tim Equivalency (FTE)
Internal Service Fund (ISF)
Debt Service Funds
Enterprise Fund
11. 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.
Account Segment
Standard Purchase Order
Productive Time
Internal Service Fund (ISF)
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.
Capital Project
Full Cost
Special Revenue Fund
Purchase Requsition
13. 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
Productive Time
Line Budget Item
Release
Award
14. To approve an award budget for use in reporting and accounting.
Baseline
Asset Management
Line Type
Expenditure
15. 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
Adopted Budget
Direct Cost or Direct Expense
Invoise Types
Revenue
16. 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
Unanticipated Revenue
Encumbrance Types
Revenue
17. 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.
Special Revenu Fund
Org.
Encumbrance
Purchase Requsition
18. 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.
Adopted Budget/Operational Plan
Grant
Cost Budget
Capital Project Fund
19. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Debt Service Funds
Expenditures
Force Account
Average Balance
20. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Invoise Types
Proprietary Funds
Force Account
Productive Time
21. 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.
Internal Agreement
Reserve
Asset Management
Force Account
22. 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.
Purchase Order
General Purpose Revenue
Commitment
Full Cost
23. 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
Capital Outlay Fund (COA)
Full Tim Equivalency (FTE)
Bond
24. 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
Purchase Requsition
Force Account
Supplier
Fund
25. 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.
Capital Project
Cost Applied
Expenditures
Fixed Asset
26. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Debt Service Funds
Blanket Purchase Agreement
Preliminary Budget
Cash Basis of Accounting
27. 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
Cost Applied
Original Budget
Depreciation
Capital Project
28. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Invoice
Funds Available
Org.
Overrealized Revenue
29. 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
Indirect Cost or Indirect Expense
Encumbrance
Special Revenue Fund
30. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Physical Intentory
Fund
Blanket Purchase Agreement
Pension and other employee benefit Trust Fund
31. Units of work that can be broken down into one or more task to capture and related revenue.
Asset Inventory
Project
Expenditures
Capital Project Fund
32. The electronic process of mainaining an itemized list of current inventory.
Asset Management
Chart of Accounts
Reserve
Capital Budget
33. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Fund Balance
Inventory Item
Encumbrance Types
Data Warehouse
34. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
General Fund
Service and Supplies
Revenue
Capital Outlay Fund (COA)
35. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Depreciation
Governmental Funds
Capital Project
General Purpose Revenue
36. 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.
Change Letter
Fund
Full Cost
Depreciation
37. 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.
Invoice
Org.
Asset
Enterprise Funds
38. A separate fund established to account for services that are supported primarly by service charges. They are similar to private business enterprise - where the costs of providing goods or services to the general public or to customer departments on a
Capital Outlay Fund (COA)
Enterprise Fund
Baseline Budget
Proprietary Funds
39. Accounts for the County's financial resources except those required to be accounted for in another fund.
Average Balance
Grant
General Fund
General Purpose Revenue
40. 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.
Spending Funds
Genaral Revenue Allocation
Award
Capital Budget
41. 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
Org.
Appropriation
Invoise Types
Unanticipated Revenue
42. 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
Proprietary Funds
Avoidable Cost
Indirect Cost or Indirect Expense
Inventory Items
43. Revenues are recorded when measurable and earned ( rather than when cash is received - and expenses are recognized when a good or service is used( rather thane when payment is made).
Special Revenu Fund
Fund Balance
Encumbrance
Accrual Basis of Accounting
44. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Raw Cost
Overrealized Revenue
Invoice
Cost Budget
45. 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.
Expenditure
Internal Service Funds
Enterprise Fund
Program Budget
46. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Activity- Based Costing (ABC)
Adopted Budget/Operational Plan
Internal Service Funds
Capital Outlay Fund (COA)
47. 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 -
Encumbrance
Capital Assets
Internal Service Fund (ISF)
Capital Project
48. 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.
Program Budget
Current Budget
Encumbrance
Capital Improvement
49. 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.
Appropriation
General Fund
Account
Org.
50. 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.
Internal Service Fund (ISF)
Capital Improvement Plan (CIP)
Adopted Budget/Operational Plan
Expenditures
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