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Test your basic knowledge |
Oracle Vocab
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oracle
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it-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Baseline Budget
Baseline
Service and Supplies
Fund
2. 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
General Purpose Revenue
Asset Management
Capital Assets
Enterprise Fund
3. 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
Capital Assets
Debt Service Funds
Inventory Items
Adopted Budget
4. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Capital Project Fund
General Fund
Commitment
Data Warehouse
5. 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.
General Purpose Revenue
Baseline
Full Tim Equivalency (FTE)
Contract or Contract Purchase Agreement (CPA)
6. 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
Full Cost
Asset Inventory
Current Budget
7. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Genaral Revenue Allocation
Avoidable Cost
Expenditures
Change Letter
8. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Encumbrance
Accrual Basis of Accounting
Internal Service Funds
Inventory Items
9. 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
Depreciate
Governmental Funds
Fund Balance
Debt Service
10. The account structure an enterprise uses to record transactions and maintain account balances.
Fund
Capital Budget
Chart of Accounts
Data Warehouse
11. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Baseline Budget
Invoice
Line Budget Item
Invoise Types
12. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Expenditure
Encumbrance
Depreciation
Account Segment
13. Units of work that can be broken down into one or more task to capture and related revenue.
Depreciation
Line Type
Program Budget
Project
14. An Actual order(sub-order) of goods and services issued against a Blanket Purchase Agreement (BPA) for actual delivery with specified quantities - dates and the accounting information.
Direct Cost or Direct Expense
Expensed Inventory
Trust Fund
Release
15. The spread of an assets cost over the time period it is used.
Bond
Depreciate
General Purpose Revenue
Grant
16. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Internal Service Fund (ISF)
Average Balance
Indirect Cost of Expense
Encumbrance
17. 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)
Service and Supplies
Proprietary Funds
Change Letter
18. 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
Indirect Cost or Indirect Expense
Fiduciary
Indirect Project
19. 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.
Capital Improvement Plan (CIP)
Physical Intentory
Funds Available
Obligation
20. 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.
Revenue
Grant
Fixed Asset
Org.
21. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Expenditure Type
Overrealized Revenue
Internal Agreement
Account
22. 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
Capital Project
Enterprise Fund
Baseline
Revenue
23. The most recently baselined budget version of the budget.
Service and Supplies
General Fund
Current Budget
Invoice
24. 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.
Expenditure Type
Cost Applied
Fiduciary Fund
Account
25. 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.
Proprietary Funds
Preliminary Budget
Genaral Revenue Allocation
Account Segment
26. 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).
Enterprise Funds
Capital Projects Funds
Award
Accrual Basis of Accounting
27. 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.
Release
Revenue
Asset Inventory
Grant
28. 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
Direct Cost or Direct Expense
Contract or Contract Purchase Agreement (CPA)
Indirect Cost or Indirect Expense
Internal Service Funds
29. 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.
Depreciation
Trust Fund
Spending Funds
Fund
30. 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
Proprietary Funds
Invoice
Purchase Requsition
Force Account
31. 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.
Enterprise Fund
Purchase Requsition
Internal Service Funds
Internal Service Fund (ISF)
32. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Change Letter
Current Budget
Invoice
Capital Assets
33. Enterprise Funds - Internal Service Fund
Depreciation
Program Budget
Proprietary Funds
Data Warehouse
34. 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.
Raw Cost
Data Warehouse
General Purpose Revenue
Asset
35. 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.
Estimated Revenue
Invoice
Spending Funds
Unanticipated Revenue
36. An itemized statement of money owed for goods shipped or services rendered
Current Budget
Expensed Inventory
Enterprise Fund
Invoice
37. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Project
Deficit
Capital Project Fund
Expenditure
38. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Contract or Contract Purchase Agreement (CPA)
Change Letter
Capital Improvement
Invoice
39. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Invoise Types
Bond
General Purpose Revenue
Physical Intentory
40. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Debt Service
Direct Expense
Revenue
Commitment
41. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Revenue
Cost Applied
Line Budget Item
Bond
42. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Encumbrance Types
Overrealized Revenue
Internal Service Fund (ISF)
Avoidable Cost
43. To approve an award budget for use in reporting and accounting.
Baseline
Capital Project
Purchase Order
Capital Project
44. The amount of revenue expected to accrue or to be collected during a fiscal year.
Trust Fund
Asset
Estimated Revenue
Expenditure Type
45. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Debt Service Funds
Governmental Funds
Invoice
Adopted Budget
46. 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
Fund Balance
Bond
Indirect Project
Service and Supplies
47. 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
Full Tim Equivalency (FTE)
Funds
Asset Inventory
Capital Improvement
48. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Fiduciary
General Purpose Revenue
Capital Projects Funds
Asset Management
49. 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.
Purchase Order
Depreciation
Debt Service Funds
General Fund
50. 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.
General Fund
Full Tim Equivalency (FTE)
Proprietary Funds
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