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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. 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.
Award
Avoidable Cost
Capital Project
Commitment
2. 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.
Invoice
Standard Purchase Order
Accrual Basis of Accounting
Inventory Item
3. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Indirect Cost of Expense
Fund
Account
Proprietary Funds
4. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Overrealized Revenue
Revenue
Inventory Item
Grant
5. 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
Grant
Capital Project
Adopted Budget
Line Type
6. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Depreciation
Preliminary Budget
Line Type
Capital Improvement
7. 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.
Invoice
Supplier
Accounting Standards
Encumbrance
8. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Depreciation
Adopted Budget
Full Tim Equivalency (FTE)
Cash Basis of Accounting
9. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Account
Program Budget
Capital Outlay Fund (COA)
Internal Service Fund (ISF)
10. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Fund
Governmental Funds
Proprietary Funds
Service and Supplies
11. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Account Segment
Funds
Capital Budget
Org.
12. 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
Productive Time
General Fund
Inventory Items
General Purpose Revenue
13. 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.
Current Budget
Encumbrance Types
Fixed Asset
Special Revenue Fund
14. 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
Supplier
Purchase Order
Internal Service Fund (ISF)
Chart of Accounts
15. 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
Avoidable Cost
Fiduciary
Deficit
Fiduciary Fund
16. 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
Genaral Revenue Allocation
Baseline Budget
Special Revenu Fund
Indirect Cost or Indirect Expense
17. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Debt Service
Line-Item Budget
Revenue
Cost Applied
18. 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.
Capital Projects Funds
Adopted Budget/Operational Plan
Asset Management
Contract or Contract Purchase Agreement (CPA)
19. 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).
Fiduciary
Revenue
Baseline
Org.
20. 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
Indirect Cost of Expense
Chart of Accounts
Fund
21. 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.
Internal Service Fund (ISF)
Baseline
Purchase Order
Account Segment
22. A self-balancing set of accounts.
Direct Cost or Direct Expense
Debt Service
Fund
Fiduciary
23. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Capital Budget
Encumbrance
Special Revenu Fund
Debt Service Funds
24. 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.
Board of Supervisors
Adopted Budget
Governmental Funds
Bond
25. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Average Balance
Encumbrance Types
Pension and other employee benefit Trust Fund
Debt Service Funds
26. 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 -
Grant
Release
Encumbrance
Capital Improvement Plan (CIP)
27. 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
Purchase Order
Enterprise Funds
Enterprise Fund
Revenue
28. The account structure an enterprise uses to record transactions and maintain account balances.
Chart of Accounts
Encumbrance
Estimated Revenue
Commitment
29. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Estimated Revenue
Proprietary Funds
Estimated Revenue
Special Revenu Fund
30. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Release
Data Warehouse
Capital Improvement Plan (CIP)
General Purpose Revenue
31. 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.
Indirect Project
Encumbrance
Purchase Order
Productive Time
32. 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.
Internal Agreement
Purchase Requsition
Avoidable Cost
Account
33. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Board of Supervisors
Baseline Budget
Fund
Internal Service Funds
34. 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.
Contract or Contract Purchase Agreement (CPA)
Fund
Indirect Cost or Indirect Expense
Direct Expense
35. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Asset
Capital Outlay Fund (COA)
Invoice
Debt Service
36. 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.
General Fund
Service and Supplies
Capital Budget
Grant
37. 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.
Depreciate
Avoidable Cost
Program Budget
Genaral Revenue Allocation
38. 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.
Indirect Cost of Expense
Service and Supplies
Cash Basis of Accounting
Preliminary Budget
39. 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
Bond
Spending Funds
Debt Service
Fund
40. 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
Org.
Appropriation
Original Budget
Internal Service Funds
41. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Depreciation
Baseline
Asset
Proprietary Funds
42. 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
Line-Item Budget
Special Revenu Fund
Expenditure
Overrealized Revenue
43. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Deficit
Proprietary Funds
Asset Management
Expenditures
44. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Adopted Budget
Cost Budget
Depreciation
Grant
45. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Org.
Special Revenu Fund
Asset Management
Physical Intentory
46. The difference between budgeted amounts and all actual and anticipated expenditures.
Funds Available
Program Budget
Direct Expense
Trust Fund
47. 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
Capital Improvement
Depreciate
Award
48. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Accrual Basis of Accounting
Original Budget
Org.
Enterprise Funds
49. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Average Balance
Encumbrance
Capital Improvement
Service and Supplies
50. 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.
Internal Agreement
Capital Assets
Data Warehouse
Indirect Cost of Expense