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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. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.






2. 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).






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






4. 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.






5. 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.






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






7. 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.






8. 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.






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






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






11. 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.






12. 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.






13. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.






14. 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.






15. With separate revenue - expenditures - and fund balances. A legal independet fiscal and accounting entity - to record its cash and other resources and equties - assets - liabilities - reserves and surplus ( fund balance) as well as its income and exp






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






17. 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.






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






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






20. 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






21. Appropriations and estimated revenue or an annual spending plan that is adopted by the Board of Supervisors( or the Board acting as the Board of Directors) pursuant to the Goverment Code - which balances revenues and expenditures.






22. 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






23. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.






24. 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






25. A grant - subsidy - revenue agreement - revenue contract - or specific funding which is allocated to an organization for a specific purpose(s) and can be used to fund one or more projects - An award is usually billed or invoiced to a Customer ( i.e.






26. 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.






27. 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.






28. The most recently baselined budget version of the budget.






29. 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






30. 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.






31. 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 -






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






33. 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.






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






35. 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






36. 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.






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






38. 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.






39. 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 -






40. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.






41. A five-year list of planned capital projects - developed by the Department of General Services.






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






43. 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






44. 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






45. A self-balancing set of accounts.






46. The Board of Supervisors approved an annual spending plan for proprietary funds. The adopted expense estimates are not appropriations - their budgetary controls are the same as those of governments funds.






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






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






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






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