Test your basic knowledge |

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. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -






2. 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.






3. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.






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






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






6. 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.






7. The spread of an assets cost over the time period it is used.






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






9. The budget amounts for a project at the first successful Baselining of the project.






10. 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).






11. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.






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






13. 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.






14. 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.






15. An accounting device established to control receipts and disbursements set aside to support specific activities.






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






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






18. 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






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






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.






21. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts






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






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






24. 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






25. 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.






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






27. 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.






28. 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.






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






30. 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.






31. 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.






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






33. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.






34. Trust Fund and Agency Funds






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






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






37. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds






38. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.






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






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






41. A payment of money or other assets from one governmental unit to another - from a governmental unit to a not-for-profit agency - or from a not-for-profit agency to a government. Often earmarked for a specific purpose or program.






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






43. A self-balancing set of accounts.






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. 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).






46. 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






47. Does not include paid or unpaid leave - work performed on behalf of a busness entity which is required for that entity to fullfil its business purpose.






48. 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






49. 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.






50. 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.