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Oracle Vocab

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. 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.






2. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.






3. 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.






4. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.






5. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.






6. Items stocked in an inventory and controlled by tracking the quantity and value of each item. Typically - each item is considered an 'asset' until it is issued or adjusted ( expensed) out of the inventory. The value of the item is equal to the curren






7. 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.






8. A self-balancing set of accounts.






9. 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).






10. 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 -






11. 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






12. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.






13. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.






14. Trust Fund and Agency Funds






15. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.






16. Accounts for the accumulation for and the payment of general long-term principal and interest.






17. 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.






18. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.






19. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.






20. 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.






21. 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).






22. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds






23. 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.






24. An itemized statement of money owed for goods shipped or services rendered






25. The electronic process of mainaining an itemized list of current inventory.






26. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.






27. 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






28. 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






29. A type of purchasing document used to reference POs to a specific contract. It may include terms and conditions - agreed amounts - and an effective and expiration date.






30. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.






31. 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.






32. 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






33. 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.






34. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts






35. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.






36. 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






37. Enterprise Funds - Internal Service Fund






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.






39. 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.






40. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.






41. 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






42. 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






43. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.






44. 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.






45. 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.






46. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.






47. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.






48. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.






49. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD






50. 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







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