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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 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
Grant
Expenditures
Commitment
2. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Proprietary Funds
Debt Service
Enterprise Fund
Capital Outlay Fund (COA)
3. 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 -
Standard Purchase Order
Line Budget Item
Raw Cost
Encumbrance
4. 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
Purchase Order
Debt Service Funds
Purchase Requsition
Avoidable Cost
5. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Internal Service Funds
Accrual Basis of Accounting
Encumbrance Types
Internal Service Fund (ISF)
6. 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
Average Balance
Cost Applied
Funds
Capital Assets
7. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Supplier
Spending Funds
Fund
Asset
8. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Cash Basis of Accounting
Project
Bond
Raw Cost
9. 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.
Fiduciary Fund
Inventory Item
Full Cost
Inventory Items
10. The amount of revenue expected to accrue or to be collected during a fiscal year.
Asset
Estimated Revenue
Governmental Funds
Encumbrance Types
11. 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.
Capital Budget
Expenditure Type
Fund Balance
Invoice
12. 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.
Grant
Adopted Budget
Contract or Contract Purchase Agreement (CPA)
Physical Intentory
13. The most recently baselined budget version of the budget.
Inventory Item
Current Budget
Revenue
Fixed Asset
14. 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).
Debt Service
Accrual Basis of Accounting
Debt Service Funds
Blanket Purchase Agreement
15. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Inventory Item
Estimated Revenue
Data Warehouse
Indirect Cost of Expense
16. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Accrual Basis of Accounting
Internal Service Funds
Purchase Order
Line Type
17. 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
Capital Improvement Plan (CIP)
Capital Improvement
Grant
Encumbrance
18. 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.
Internal Agreement
Estimated Revenue
Special Revenue Fund
19. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Encumbrance Types
Cost Budget
Debt Service
Purchase Requsition
20. 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.
Line-Item Budget
Purchase Requsition
Inventory Items
Revenue
21. 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
Asset
Fund Balance
Capital Budget
Change Letter
22. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Special Revenu Fund
Invoise Types
Change Letter
Raw Cost
23. Trust Fund and Agency Funds
Estimated Revenue
Capital Budget
Internal Service Fund (ISF)
Fiduciary
24. Accounts for the accumulation for and the payment of general long-term principal and interest.
Debt Service Funds
Direct Cost or Direct Expense
Fund
Capital Project
25. 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
Internal Service Fund (ISF)
Obligation
Capital Project
Capital Improvement
26. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Debt Service
Asset
Special Revenue Fund
Enterprise Fund
27. 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.
Enterprise Funds
Avoidable Cost
Blanket Purchase Agreement
Contract or Contract Purchase Agreement (CPA)
28. 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.
Encumbrance
Debt Service Funds
Genaral Revenue Allocation
Standard Purchase Order
29. The account structure an enterprise uses to record transactions and maintain account balances.
Chart of Accounts
Internal Service Fund (ISF)
Grant
Depreciation
30. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Preliminary Budget
Estimated Revenue
General Purpose Revenue
Proprietary Funds
31. 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.
Program Budget
Appropriation
Board of Supervisors
Reserve
32. 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.
Asset
Org.
Fiduciary
Fiduciary Fund
33. A five-year list of planned capital projects - developed by the Department of General Services.
Accrual Basis of Accounting
Capital Improvement Plan (CIP)
Activity- Based Costing (ABC)
Depreciation
34. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Force Account
Unanticipated Revenue
Funds
Project
35. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Commitment
Grant
Adopted Budget
Debt Service
36. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Baseline
Proprietary Funds
Special Revenu Fund
Bond
37. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Invoice
Debt Service
Inventory Item
Governmental Funds
38. 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.
Inventory Items
Expensed Inventory
Data Warehouse
Depreciation
39. 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.
Activity- Based Costing (ABC)
Debt Service
Standard Purchase Order
Capital Outlay Fund (COA)
40. Annual principal and interest payments that local government owes on borrowed money.
Depreciation
Invoise Types
Debt Service
Capital Projects Funds
41. 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.
Encumbrance
Asset Inventory
Award
Capital Improvement Plan (CIP)
42. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Account
Enterprise Funds
Average Balance
Capital Assets
43. 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.
Capital Assets
Chart of Accounts
Full Tim Equivalency (FTE)
Accounting Standards
44. 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.
Obligation
Revenue
Overrealized Revenue
Service and Supplies
45. 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
Full Cost
Avoidable Cost
Inventory Item
46. 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.
Account
Depreciation
Full Cost
Depreciate
47. The electronic process of mainaining an itemized list of current inventory.
Encumbrance
Depreciation
Asset Management
Average Balance
48. 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.
Purchase Order
Internal Agreement
Debt Service Funds
Pension and other employee benefit Trust Fund
49. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Enterprise Funds
Capital Project Fund
Capital Improvement
Depreciation
50. 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.
Proprietary Funds
Service and Supplies
Force Account
General Fund