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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. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Cost Applied
Special Revenue Fund
Line-Item Budget
Estimated Revenue
2. 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
Encumbrance
Baseline
Bond
Internal Service Funds
3. 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).
Invoice
Revenue
Avoidable Cost
Spending Funds
4. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Asset
Special Revenue Fund
Org.
Baseline Budget
5. Contributions or gifts of cash or other assets from another government or agency to be used or expended for a specified purpose - activity or facility.
Enterprise Fund
Debt Service
Grant
Activity- Based Costing (ABC)
6. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Supplier
Encumbrance
Fixed Asset
Encumbrance
7. A fund used to account for assets held by a government in a trustee capacity for individuals - private organizations - other governments and/or other funds.
Genaral Revenue Allocation
Inventory Items
Average Balance
Trust Fund
8. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Debt Service
General Purpose Revenue
Activity- Based Costing (ABC)
Invoice
9. 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 -
Indirect Cost of Expense
Estimated Revenue
Capital Project
General Purpose Revenue
10. 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.
Fund
Indirect Cost or Indirect Expense
Capital Improvement Plan (CIP)
Full Cost
11. 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.
Depreciation
Activity- Based Costing (ABC)
Capital Budget
Governmental Funds
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
Productive Time
Avoidable Cost
Estimated Revenue
Adopted Budget
13. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Service and Supplies
Estimated Revenue
Org.
Encumbrance
14. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Encumbrance Types
Release
Direct Cost or Direct Expense
Funds
15. An accounting device established to control receipts and disbursements set aside to support specific activities.
Debt Service
Capital Improvement
Fund
Current Budget
16. 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
Org.
Cost Budget
Blanket Purchase Agreement
Depreciation
17. 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.
Invoise Types
Capital Projects Funds
General Fund
Force Account
18. 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.
Raw Cost
Chart of Accounts
Physical Intentory
Program Budget
19. 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
Appropriation
Revenue
Invoice
Invoice
20. 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
Direct Expense
Asset Management
Productive Time
Governmental Funds
21. 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
Grant
Account
Purchase Order
22. Is derived from taxes - licenses - fees - and investment earnings.
Fiduciary
Revenue
Line-Item Budget
Cost Applied
23. 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 Project
Bond
Capital Outlay Fund (COA)
24. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Capital Projects Funds
Contract or Contract Purchase Agreement (CPA)
Pension and other employee benefit Trust Fund
Fund
25. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Line Budget Item
Proprietary Funds
Raw Cost
Spending Funds
26. An account that contains money set aside for a legaly restricted specifi future use.
General Purpose Revenue
Line Budget Item
Depreciation
Reserve
27. 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
Project
Force Account
Invoice
Expenditure
28. 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
Genaral Revenue Allocation
Cash Basis of Accounting
Estimated Revenue
Line Budget Item
29. The spread of an assets cost over the time period it is used.
Asset Management
Depreciate
Enterprise Fund
Expenditure Type
30. 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
Blanket Purchase Agreement
Invoice
Debt Service
Depreciation
31. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Revenue
Asset
Expenditure Type
Board of Supervisors
32. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Fund
Physical Intentory
Asset
Capital Project Fund
33. The difference between budgeted amounts and all actual and anticipated expenditures.
Enterprise Fund
Avoidable Cost
Inventory Items
Funds Available
34. 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.
Cost Budget
Commitment
Fund
Cash Basis of Accounting
35. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Fund
Award
Force Account
Invoice
36. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Fixed Asset
Deficit
Trust Fund
Grant
37. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Inventory Item
Indirect Cost of Expense
Enterprise Funds
Unanticipated Revenue
38. 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.
Inventory Items
Purchase Requsition
Capital Budget
Revenue
39. Annual principal and interest payments that local government owes on borrowed money.
Debt Service
Encumbrance
Adopted Budget
Capital Projects Funds
40. 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.
Fixed Asset
Average Balance
Grant
Asset
41. 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.
Line Type
Encumbrance
Trust Fund
Spending Funds
42. 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.
Cost Budget
Accounting Standards
Release
Program Budget
43. 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.
Trust Fund
Invoice
Current Budget
Grant
44. 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 ).
Baseline
Indirect Project
Revenue
Debt Service
45. 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 -
Internal Service Fund (ISF)
Account Segment
Encumbrance
Fiduciary Fund
46. Units of work that can be broken down into one or more task to capture and related revenue.
Commitment
General Purpose Revenue
Project
Preliminary Budget
47. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Revenue
Proprietary Funds
Program Budget
Average Balance
48. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Internal Service Fund (ISF)
Change Letter
General Fund
Inventory Items
49. Fund is an independent fiscla and accounting entity.
Fund
Grant
Debt Service
Supplier
50. 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
Average Balance
Account Segment
Fund Balance
Productive Time