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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. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Account
Asset Management
Pension and other employee benefit Trust Fund
Expenditure Type
2. Fund is an independent fiscla and accounting entity.
Expenditure
Fund
Trust Fund
Appropriation
3. 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
Fixed Asset
Asset Management
Capital Improvement
4. 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.
Debt Service
Purchase Order
Capital Assets
Adopted Budget/Operational Plan
5. Is derived from taxes - licenses - fees - and investment earnings.
Encumbrance
Revenue
Invoise Types
Purchase Requsition
6. Units of work that can be broken down into one or more task to capture and related revenue.
Fund Balance
Project
Full Cost
Internal Service Funds
7. 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
Asset Inventory
Avoidable Cost
Line Budget Item
Capital Budget
8. 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
Depreciate
Fund
Service and Supplies
Force Account
9. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Internal Service Fund (ISF)
General Purpose Revenue
Expenditure
Account
10. An account that contains money set aside for a legaly restricted specifi future use.
Asset Management
Enterprise Fund
Purchase Requsition
Reserve
11. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Capital Outlay Fund (COA)
Debt Service Funds
Estimated Revenue
Revenue
12. 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
Cost Applied
Avoidable Cost
Asset
Invoice
13. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Cost Budget
Release
Expenditure
Internal Service Funds
14. 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.
Funds
Enterprise Fund
Estimated Revenue
Depreciation
15. 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.
Productive Time
General Fund
General Purpose Revenue
Adopted Budget/Operational Plan
16. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Asset
Preliminary Budget
Average Balance
Invoice
17. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Full Tim Equivalency (FTE)
Supplier
Enterprise Funds
Preliminary Budget
18. 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.
Encumbrance
Board of Supervisors
Indirect Cost of Expense
Debt Service Funds
19. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Baseline Budget
Award
Full Cost
Internal Service Fund (ISF)
20. 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
Inventory Items
Encumbrance
Fund Balance
Capital Budget
21. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Account Segment
Cost Applied
Program Budget
Estimated Revenue
22. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Avoidable Cost
Change Letter
Line Budget Item
Special Revenu Fund
23. 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).
General Purpose Revenue
Adopted Budget/Operational Plan
Capital Project
Expenditure Type
24. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
General Purpose Revenue
Baseline Budget
Original Budget
Deficit
25. Accounts for the County's financial resources except those required to be accounted for in another fund.
Genaral Revenue Allocation
General Fund
Cost Budget
Purchase Order
26. The most recently baselined budget version of the budget.
Debt Service Funds
Current Budget
Release
Capital Assets
27. 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
Expenditures
Depreciation
Capital Improvement
Change Letter
28. A type of Purchase Order that is issued to specify agreed-to prices - delivery periods or other terms for goods or services that will be ordered ( released) for actual delivery later. A BPA is normally issued to cover a long-term agreement period suc
Expenditure Type
Genaral Revenue Allocation
Blanket Purchase Agreement
Fund
29. As a political subdivision of the State of California - the County is governed by a five- member Board of Supervisor - which has legislative and executed authority. Each member of the Board of Supervisors is elected by geographic district.
Internal Agreement
Capital Outlay Fund (COA)
Board of Supervisors
Encumbrance
30. 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
Encumbrance Types
Capital Improvement
Direct Cost or Direct Expense
Line Budget Item
31. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Enterprise Fund
Commitment
Revenue
Pension and other employee benefit Trust Fund
32. 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.
Accounting Standards
Capital Outlay Fund (COA)
Debt Service
Release
33. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Expenditure Type
Funds
Average Balance
Invoice
34. 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
Encumbrance
Asset
Capital Project
Blanket Purchase Agreement
35. 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
Enterprise Fund
Force Account
Preliminary Budget
Asset Management
36. 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.
Fund Balance
Org.
Baseline
General Purpose Revenue
37. 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.
Bond
Capital Improvement Plan (CIP)
Estimated Revenue
38. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Internal Service Fund (ISF)
Internal Service Funds
Fixed Asset
Obligation
39. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Governmental Funds
Overrealized Revenue
Expensed Inventory
Invoice
40. 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.
Debt Service
Asset Inventory
Fund
Debt Service Funds
41. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Full Tim Equivalency (FTE)
Commitment
Proprietary Funds
Original Budget
42. 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
Inventory Items
Indirect Cost or Indirect Expense
Asset Management
Depreciate
43. Enterprise Funds - Internal Service Fund
Proprietary Funds
Revenue
Asset Management
Fixed Asset
44. 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.
Revenue
Preliminary Budget
Inventory Item
Line Budget Item
45. A self-balancing set of accounts.
Fund
Invoice
Commitment
Adopted Budget/Operational Plan
46. The account structure an enterprise uses to record transactions and maintain account balances.
Chart of Accounts
Capital Projects Funds
Cost Budget
Indirect Project
47. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Revenue
Baseline Budget
Fixed Asset
48. 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.
Expenditures
Capital Assets
Fiduciary Fund
General Purpose Revenue
49. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Account Segment
Indirect Cost of Expense
Revenue
Cost Budget
50. 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
Force Account
Asset
Revenue