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Oracle Vocab

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






2. 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






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






4. 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).






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






6. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).






7. 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.






8. 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.






9. 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.






10. 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






11. Is derived from taxes - licenses - fees - and investment earnings.






12. The difference between budgeted amounts and all actual and anticipated expenditures.






13. 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 -






14. 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.






15. 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






16. To approve an award budget for use in reporting and accounting.






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






18. Fund is an independent fiscla and accounting entity.






19. 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.






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






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






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






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






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






25. 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






26. 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.






27. 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.






28. 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.






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






30. Annual principal and interest payments that local government owes on borrowed money.






31. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.






32. Trust Fund and Agency Funds






33. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.






34. A self-balancing set of accounts.






35. Units of work that can be broken down into one or more task to capture and related revenue.






36. 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.






37. 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.






38. The account structure an enterprise uses to record transactions and maintain account balances.






39. 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.






40. Enterprise Funds - Internal Service Fund






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






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






43. The amount of revenue expected to accrue or to be collected during a fiscal year.






44. 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.






45. 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






46. 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.






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






48. Accounts for the County's financial resources except those required to be accounted for in another fund.






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






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







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