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Test your basic knowledge |
Oracle Vocab
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Subjects
:
oracle
,
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. 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).
Project
Avoidable Cost
Cost Applied
Accrual Basis of Accounting
2. The spread of an assets cost over the time period it is used.
Depreciation
Depreciate
Contract or Contract Purchase Agreement (CPA)
Purchase Requsition
3. The amount of revenue expected to accrue or to be collected during a fiscal year.
Cost Budget
Activity- Based Costing (ABC)
Direct Cost or Direct Expense
Estimated Revenue
4. 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
Program Budget
Expenditures
Estimated Revenue
Capital Assets
5. 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
Account Segment
Cash Basis of Accounting
Depreciation
6. 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.
Fiduciary Fund
Adopted Budget/Operational Plan
Enterprise Fund
Direct Expense
7. 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 ).
Line-Item Budget
Overrealized Revenue
Indirect Project
Purchase Order
8. 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
Revenue
General Purpose Revenue
Project
9. 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
Cash Basis of Accounting
Enterprise Fund
Adopted Budget/Operational Plan
Cost Applied
10. An account that contains money set aside for a legaly restricted specifi future use.
Reserve
Indirect Cost or Indirect Expense
Funds Available
Fiduciary
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.
Fund Balance
Standard Purchase Order
Accrual Basis of Accounting
Pension and other employee benefit Trust Fund
12. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Account
Reserve
General Purpose Revenue
Enterprise Funds
13. An anticipated expenditure as indicated by approval of requistion. Oracle Purchasing will send commitments to the General Ledger and Projects and Grants and it will be recorded as an encumbrance type.
Invoise Types
Asset Inventory
Trust Fund
Commitment
14. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Debt Service
Internal Service Fund (ISF)
Estimated Revenue
Invoise Types
15. A grant - subsidy - revenue agreement - revenue contract - or specific funding which is allocated to an organization for a specific purpose(s) and can be used to fund one or more projects - An award is usually billed or invoiced to a Customer ( i.e.
Grant
Project
Line-Item Budget
Award
16. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Productive Time
Baseline
Change Letter
Asset Inventory
17. 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.
Proprietary Funds
Activity- Based Costing (ABC)
Award
Revenue
18. Fund is an independent fiscla and accounting entity.
Fiduciary Fund
Fund
Special Revenue Fund
Change Letter
19. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Supplier
Revenue
Expenditures
Unanticipated Revenue
20. 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.
Commitment
Revenue
Estimated Revenue
Fiduciary Fund
21. 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.
Current Budget
Capital Budget
Deficit
Fixed Asset
22. Items that are stocked in intentory. Inventory is controlled by quantity and value. Remains an asset until it is consumed. The cost of an intentory items is recognized as an expense when it is consumed or sold.
Line Budget Item
Inventory Item
Asset
Contract or Contract Purchase Agreement (CPA)
23. An accounting device established to control receipts and disbursements set aside to support specific activities.
Fixed Asset
Project
Fund
Unanticipated Revenue
24. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Release
Cost Applied
Expensed Inventory
Funds Available
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.
General Purpose Revenue
General Fund
Productive Time
Capital Outlay Fund (COA)
26. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Standard Purchase Order
General Purpose Revenue
Adopted Budget/Operational Plan
Release
27. Is derived from taxes - licenses - fees - and investment earnings.
Revenue
Capital Project Fund
Expensed Inventory
Board of Supervisors
28. 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.
Revenue
Trust Fund
Grant
General Fund
29. 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
Fixed Asset
Enterprise Fund
Direct Expense
Fund
30. To approve an award budget for use in reporting and accounting.
Baseline
Depreciation
General Fund
Raw Cost
31. 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.
Depreciate
Capital Project
Encumbrance
Adopted Budget
32. 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
Chart of Accounts
General Purpose Revenue
Capital Outlay Fund (COA)
Appropriation
33. 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 Revenu Fund
General Fund
Indirect Cost of Expense
Enterprise Fund
34. The Generally Accepted Accounting Principles( GAAP) promulgated by te Governmental Accountng Standards Board - which guide the recording and reporting of financial information by state and local governments.
Data Warehouse
Board of Supervisors
Fund Balance
Accounting Standards
35. 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.
Enterprise Fund
Fund
Grant
Enterprise Fund
36. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Capital Projects Funds
Fund Balance
Line Type
Pension and other employee benefit Trust Fund
37. 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.
General Fund
Release
Invoice
Capital Project
38. 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 Outlay Fund (COA)
Capital Project
Line Budget Item
General Fund
39. 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.
Funds
Obligation
Account Segment
Cost Applied
40. 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
Expenditure
Depreciation
Inventory Items
Raw Cost
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.
Baseline
Full Cost
Bond
Capital Project
42. 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
Force Account
Cost Budget
Encumbrance
Cash Basis of Accounting
43. An initial building of the budget using a base year usually the second of the prior year's Operational Plan) for non salary related accounts and recalculated salary and benefits costs based on current positions loaded into BRASS from PeopleSoft.
Release
Preliminary Budget
Supplier
Cost Budget
44. A five-year list of planned capital projects - developed by the Department of General Services.
Capital Improvement Plan (CIP)
Cost Budget
Capital Improvement
Debt Service Funds
45. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Estimated Revenue
Deficit
Baseline Budget
General Fund
46. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Fund
Physical Intentory
Fiduciary Fund
Productive Time
47. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Spending Funds
Fund
Pension and other employee benefit Trust Fund
Enterprise Fund
48. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Line Budget Item
Average Balance
Overrealized Revenue
Special Revenue Fund
49. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Capital Project Fund
Encumbrance
Grant
Fiduciary Fund
50. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Invoice
Obligation
Service and Supplies
Baseline Budget
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