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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. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Fiduciary
Org.
Overrealized Revenue
Encumbrance
2. 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
Enterprise Fund
Program Budget
Proprietary Funds
Fund
3. 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.
Capital Project
Board of Supervisors
Adopted Budget
Original Budget
4. A budget format prescribed by the State Controller. Shows activities grouped by functional organization units - such as departments. The term line-items refers to account and sub-account detail typically provided for revenue by source ( e.g property
Expenditure
Baseline
Fund
Line-Item Budget
5. 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).
Inventory Items
Expenditure Type
Preliminary Budget
Accrual Basis of Accounting
6. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Account Segment
Change Letter
Revenue
Accrual Basis of Accounting
7. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Force Account
Contract or Contract Purchase Agreement (CPA)
Capital Outlay Fund (COA)
Cost Budget
8. The amount of revenue expected to accrue or to be collected during a fiscal year.
Trust Fund
Revenue
Account
Estimated Revenue
9. 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
Inventory Items
Capital Project
Line Type
Blanket Purchase Agreement
10. The amount of revenue expected to accrue or to be collected during a fiscal year.
Blanket Purchase Agreement
Unanticipated Revenue
Estimated Revenue
Deficit
11. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Special Revenue Fund
Asset Inventory
Activity- Based Costing (ABC)
Capital Project Fund
12. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Genaral Revenue Allocation
Debt Service Funds
Commitment
Project
13. The version of the Operations Plan that is formally approved and implemented by the Board of Supervisors after the proposed Operational Plan has gone through a process of Change Letters - public hearing - and deliberations.
Encumbrance
Adopted Budget/Operational Plan
Special Revenue Fund
Account Segment
14. 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.
Fiduciary Fund
Revenue
Genaral Revenue Allocation
Fiduciary
15. 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
Chart of Accounts
General Fund
Expenditure
16. 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.
Expenditure Type
Grant
Release
Special Revenu Fund
17. 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.
Trust Fund
Blanket Purchase Agreement
Invoice
Estimated Revenue
18. Accounts for the County's financial resources except those required to be accounted for in another fund.
General Purpose Revenue
Contract or Contract Purchase Agreement (CPA)
Depreciation
General Fund
19. A standard procurement document issued for delivery of specified goods or services on specified dates at specified locations. A PO is normally a one-time transaction.
Funds Available
Purchase Order
Pension and other employee benefit Trust Fund
Invoice
20. 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.
Direct Cost or Direct Expense
Invoise Types
Activity- Based Costing (ABC)
Program Budget
21. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Cost Applied
Capital Improvement
Release
General Fund
22. An account that contains money set aside for a legaly restricted specifi future use.
Capital Improvement Plan (CIP)
Fund
Reserve
Unanticipated Revenue
23. 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.
Revenue
Spending Funds
Depreciate
Purchase Requsition
24. 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.
Capital Outlay Fund (COA)
Line Type
Commitment
Capital Project Fund
25. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Encumbrance Types
Pension and other employee benefit Trust Fund
Direct Expense
Invoise Types
26. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Capital Projects Funds
Full Tim Equivalency (FTE)
Encumbrance
Expensed Inventory
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.
Activity- Based Costing (ABC)
Expenditure
Capital Project
Expenditures
28. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Governmental Funds
Depreciate
Average Balance
Revenue
29. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Revenue
Genaral Revenue Allocation
Accounting Standards
Baseline
30. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Purchase Order
Debt Service
Account Segment
Fund
31. 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.
General Purpose Revenue
Accrual Basis of Accounting
Line Budget Item
Program Budget
32. 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.
Blanket Purchase Agreement
Depreciation
Adopted Budget
Expenditure
33. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Supplier
Encumbrance
Capital Assets
Revenue
34. 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
Fund
Capital Project
Fund
Grant
35. 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).
Depreciation
Capital Improvement
Capital Projects Funds
General Purpose Revenue
36. 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
Encumbrance
Revenue
Fiduciary Fund
Avoidable Cost
37. A separate fund established to account for services that are supported primarly by service charges. They are similar to private business enterprise - where the costs of providing goods or services to the general public or to customer departments on a
Pension and other employee benefit Trust Fund
Enterprise Fund
Internal Service Fund (ISF)
Direct Expense
38. The electronic process of mainaining an itemized list of current inventory.
Spending Funds
Asset Management
Direct Expense
Capital Project Fund
39. 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.
Invoice
Full Tim Equivalency (FTE)
Expenditures
Debt Service
40. 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.
Force Account
Expensed Inventory
Asset Inventory
Org.
41. Units of work that can be broken down into one or more task to capture and related revenue.
Asset
Fund Balance
Project
Productive Time
42. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Trust Fund
Cash Basis of Accounting
Direct Cost or Direct Expense
Capital Assets
43. To approve an award budget for use in reporting and accounting.
Unanticipated Revenue
Fiduciary Fund
Baseline
General Purpose Revenue
44. A fund used to account for the financing of good or services provided by one department to other departments of the County - or to other governmental units - on a cost-reimbursement basis.
Cost Applied
Internal Service Fund (ISF)
Depreciation
Depreciate
45. 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.
Cost Applied
Pension and other employee benefit Trust Fund
Capital Budget
Capital Project
46. 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
Capital Outlay Fund (COA)
Expenditure
Productive Time
Depreciation
47. 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 -
Encumbrance
Expenditures
Current Budget
Fixed Asset
48. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Funds
Capital Assets
Direct Cost or Direct Expense
Asset Management
49. 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.
Fiduciary
Standard Purchase Order
Depreciation
Line Type
50. 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
Project
Chart of Accounts
Baseline Budget