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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. 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.
Expenditures
Asset Inventory
Indirect Cost of Expense
Adopted Budget/Operational Plan
2. Expiration in the service life of capital assets - other than wasting assets - attributable to wear and tear - deterioration - action of the physical elements - idadequacy - and obsolescence.
Depreciation
General Purpose Revenue
Grant
Capital Project
3. 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.
Encumbrance
Commitment
Fund
Capital Outlay Fund (COA)
4. An accounting device established to control receipts and disbursements set aside to support specific activities.
Internal Agreement
Encumbrance
Service and Supplies
Fund
5. 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.
Blanket Purchase Agreement
Cost Budget
Service and Supplies
Fixed Asset
6. Units of work that can be broken down into one or more task to capture and related revenue.
Project
Inventory Item
Fund
Indirect Project
7. 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.
Grant
Fixed Asset
Debt Service
Inventory Item
8. 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
Board of Supervisors
Inventory Item
Capital Improvement
Invoice
9. 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
Revenue
Revenue
Physical Intentory
Capital Assets
10. 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
Direct Expense
Internal Service Fund (ISF)
Capital Improvement Plan (CIP)
Activity- Based Costing (ABC)
11. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Internal Service Funds
Average Balance
Capital Improvement
Enterprise Funds
12. 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.
Genaral Revenue Allocation
Inventory Item
Asset Inventory
Invoise Types
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.
Adopted Budget/Operational Plan
Purchase Requsition
Original Budget
General Fund
14. Non-Capital Project. Non productive time as a type of indirect project to track paid time off. Printing - mails - purchasing - contracting - fleet - facilities. and admin projects ( overhead - training - travel - etc ).
Indirect Project
Expensed Inventory
Cost Applied
Encumbrance Types
15. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Cost Budget
Encumbrance
Encumbrance Types
Supplier
16. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
General Purpose Revenue
Funds
Asset
Special Revenue Fund
17. 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.
Fund
Special Revenue Fund
Award
Reserve
18. Enterprise Funds - Internal Service Fund
Program Budget
Encumbrance
Proprietary Funds
General Purpose Revenue
19. 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).
Capital Projects Funds
Deficit
Full Tim Equivalency (FTE)
Invoice
20. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Capital Improvement Plan (CIP)
Accounting Standards
Cash Basis of Accounting
Indirect Cost of Expense
21. A self-balancing set of accounts.
Enterprise Funds
Fund
Full Tim Equivalency (FTE)
Invoise Types
22. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Enterprise Funds
Funds Available
Project
Overrealized Revenue
23. 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
Inventory Items
Reserve
Adopted Budget
Asset Inventory
24. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Accrual Basis of Accounting
Debt Service
Debt Service Funds
Baseline Budget
25. 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.
Reserve
Capital Project
Capital Improvement Plan (CIP)
Expenditures
26. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Governmental Funds
Capital Project Fund
Expenditure
Depreciation
27. 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.
Reserve
General Purpose Revenue
Org.
Activity- Based Costing (ABC)
28. 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.
Special Revenu Fund
Revenue
Contract or Contract Purchase Agreement (CPA)
Spending Funds
29. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Expenditures
Encumbrance
Baseline Budget
Physical Intentory
30. 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.
Accounting Standards
Fund
Capital Improvement Plan (CIP)
Accrual Basis of Accounting
31. 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.
Baseline
Service and Supplies
Expenditure
Preliminary Budget
32. 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.
Board of Supervisors
Estimated Revenue
Asset Inventory
Capital Improvement Plan (CIP)
33. Accounts for the County's financial resources except those required to be accounted for in another fund.
Force Account
General Fund
Internal Service Funds
Direct Expense
34. Those expenses which can be charged directly as a part of the cost of a product or service - or of a department or operating unit ( labor - equipment usage - materials - contractor payments - etc). These labor costs usually include only front-line or
Grant
Capital Improvement Plan (CIP)
Direct Cost or Direct Expense
Baseline Budget
35. The most recently baselined budget version of the budget.
Program Budget
Account Segment
Current Budget
Encumbrance
36. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Depreciation
Blanket Purchase Agreement
Account Segment
Average Balance
37. The account structure an enterprise uses to record transactions and maintain account balances.
Reserve
Direct Expense
Depreciation
Chart of Accounts
38. 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.
Adopted Budget
Proprietary Funds
Preliminary Budget
General Purpose Revenue
39. 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
Activity- Based Costing (ABC)
General Purpose Revenue
Baseline
Fund Balance
40. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Commitment
Proprietary Funds
Program Budget
Avoidable Cost
41. 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
Encumbrance
Debt Service Funds
Original Budget
42. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Overrealized Revenue
Capital Improvement Plan (CIP)
Line-Item Budget
Invoice
43. 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).
Activity- Based Costing (ABC)
Org.
Capital Projects Funds
Depreciation
44. 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.
Asset
Avoidable Cost
Purchase Order
Genaral Revenue Allocation
45. Those expenses which can be charged directly as a part of the cost of a product or service - or of a department or operating unit - as distiquished from overhead and other indirect costs which most be prorated among several products or services - dep
Direct Expense
Fund
Proprietary Funds
Raw Cost
46. 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.
Original Budget
Invoice
Cash Basis of Accounting
Fixed Asset
47. 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.
Asset Inventory
Deficit
Capital Improvement
Appropriation
48. 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.
Expenditures
Service and Supplies
Average Balance
General Fund
49. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Line Type
Encumbrance Types
Trust Fund
Debt Service
50. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Inventory Items
Enterprise Fund
Depreciation
Account Segment