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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. Items stocked in an inventory and controlled by tracking the quantity and value of each item. Typically - each item is considered an 'asset' until it is issued or adjusted ( expensed) out of the inventory. The value of the item is equal to the curren
Asset Inventory
Revenue
Physical Intentory
Inventory Items
2. An accounting device established to control receipts and disbursements set aside to support specific activities.
Appropriation
Expensed Inventory
Internal Agreement
Fund
3. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Direct Cost or Direct Expense
Trust Fund
Cost Budget
Fund
4. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Internal Service Funds
Capital Project Fund
Capital Outlay Fund (COA)
Current Budget
5. 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.
Capital Budget
Expenditures
Deficit
Revenue
6. A self-balancing set of accounts.
Blanket Purchase Agreement
Revenue
Fund
Debt Service
7. 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
Grant
Bond
Invoice
Debt Service
8. 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.
Contract or Contract Purchase Agreement (CPA)
Enterprise Fund
Baseline Budget
Internal Service Fund (ISF)
9. 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.
Depreciate
Direct Cost or Direct Expense
Cost Applied
Release
10. 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
Genaral Revenue Allocation
Enterprise Fund
Reserve
Inventory Items
11. 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
Reserve
Fund
Data Warehouse
Revenue
12. 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
Fiduciary
Unanticipated Revenue
Indirect Cost or Indirect Expense
Asset
13. 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.
Program Budget
General Fund
Unanticipated Revenue
Accrual Basis of Accounting
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.
Debt Service
Fiduciary Fund
Indirect Cost of Expense
Capital Outlay Fund (COA)
15. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Special Revenu Fund
Capital Improvement
Project
Preliminary Budget
16. 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.
Depreciation
General Purpose Revenue
Fixed Asset
Enterprise Fund
17. An itemized statement of money owed for goods shipped or services rendered
Invoice
General Purpose Revenue
Accrual Basis of Accounting
Indirect Project
18. 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.
Full Cost
Unanticipated Revenue
Original Budget
Account Segment
19. 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.
Debt Service
Account Segment
Commitment
Average Balance
20. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Change Letter
Invoice
Indirect Cost of Expense
Fund Balance
21. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Indirect Cost or Indirect Expense
Revenue
Cost Budget
Org.
22. 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).
Full Cost
Revenue
Deficit
Chart of Accounts
23. A classification of cost that is assigned to each expenditure items. Expenditure types are grouped into cost groups ( expenditure categories) and revenue groups ( revenue categories).
Purchase Order
Program Budget
Physical Intentory
Expenditure Type
24. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Blanket Purchase Agreement
Asset Inventory
Capital Outlay Fund (COA)
Revenue
25. The spread of an assets cost over the time period it is used.
Capital Budget
Capital Improvement Plan (CIP)
Fund
Depreciate
26. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Debt Service
Enterprise Funds
Direct Expense
Account Segment
27. 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
Enterprise Fund
Debt Service
Governmental Funds
Purchase Requsition
28. 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.
Inventory Items
Purchase Order
Accrual Basis of Accounting
Adopted Budget
29. A five-year list of planned capital projects - developed by the Department of General Services.
Baseline
Capital Improvement Plan (CIP)
Line Type
Blanket Purchase Agreement
30. 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
Internal Service Funds
Appropriation
Capital Project
Debt Service
31. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Capital Project
Proprietary Funds
Special Revenue Fund
Adopted Budget/Operational Plan
32. 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.
General Purpose Revenue
Grant
Appropriation
Inventory Item
33. 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
Blanket Purchase Agreement
Special Revenue Fund
Direct Cost or Direct Expense
Fiduciary Fund
34. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Grant
Internal Service Funds
Enterprise Fund
Governmental Funds
35. An appropriation used for goods and services ordered and received - whether paid or unpaid - including provisions for debt retirement and capital outlays. Encumbrances do not become expenditures until they are paid.
Expenditure
Estimated Revenue
Capital Budget
Capital Project Fund
36. To approve an award budget for use in reporting and accounting.
Baseline
Funds Available
Award
Activity- Based Costing (ABC)
37. Trust Fund and Agency Funds
Special Revenu Fund
General Fund
Fiduciary
Fixed Asset
38. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Current Budget
General Purpose Revenue
Debt Service Funds
Revenue
39. 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.
Genaral Revenue Allocation
General Fund
Baseline Budget
Current Budget
40. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Debt Service Funds
Fund Balance
Asset
Fixed Asset
41. Enterprise Funds - Internal Service Fund
Revenue
Blanket Purchase Agreement
Proprietary Funds
Pension and other employee benefit Trust Fund
42. The account structure an enterprise uses to record transactions and maintain account balances.
Cost Budget
Productive Time
Chart of Accounts
Line-Item Budget
43. The most recently baselined budget version of the budget.
Line-Item Budget
Activity- Based Costing (ABC)
Pension and other employee benefit Trust Fund
Current Budget
44. 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
Grant
Genaral Revenue Allocation
Proprietary Funds
Appropriation
45. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Service and Supplies
General Fund
Org.
Proprietary Funds
46. 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
Fund Balance
Data Warehouse
Line-Item Budget
Change Letter
47. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Invoice
Proprietary Funds
Internal Service Funds
Average Balance
48. 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
Force Account
Funds
General Fund
49. 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
Board of Supervisors
Cost Applied
Overrealized Revenue
Internal Service Fund (ISF)
50. A non-asset inventory that has already been expensed to a final use account and is thus carried and tracked as a on hand balance only - with an accounting value of zero.
Estimated Revenue
Indirect Cost of Expense
Depreciation
Expensed Inventory