SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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 excess of liabilites over assets - of losses over profits - or of expenditures over revenue.
Debt Service
Deficit
Internal Service Fund (ISF)
Debt Service Funds
2. 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.
Purchase Requsition
Fund Balance
Line-Item Budget
Trust Fund
3. 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
Org.
Preliminary Budget
Adopted Budget/Operational Plan
Fund
4. 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
Accounting Standards
Direct Cost or Direct Expense
Depreciation
5. A budget Format prescribed by the State Controller. Refers to account and sub-account detail typically provided by revenue source - and objects of expenditures based on the types of goods or services(salaries & benefits - services & supplies - other
Original Budget
Capital Improvement Plan (CIP)
Line Budget Item
Invoise Types
6. Trust Fund and Agency Funds
Line-Item Budget
Fiduciary
Spending Funds
Internal Service Fund (ISF)
7. Enterprise Funds - Internal Service Fund
Fund
Award
Proprietary Funds
Productive Time
8. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Encumbrance
Full Cost
Cost Budget
Force Account
9. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Capital Projects Funds
Supplier
Service and Supplies
Raw Cost
10. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Cash Basis of Accounting
Governmental Funds
Internal Service Fund (ISF)
Current Budget
11. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Inventory Items
Unanticipated Revenue
Grant
Overrealized Revenue
12. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Revenue
Standard Purchase Order
Invoise Types
Estimated Revenue
13. Accounts for the County's financial resources except those required to be accounted for in another fund.
Trust Fund
General Fund
Invoice
Estimated Revenue
14. 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.
Funds Available
Activity- Based Costing (ABC)
Capital Project
Accounting Standards
15. 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
Change Letter
Full Cost
Internal Service Fund (ISF)
Supplier
16. 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).
Obligation
Account Segment
Org.
Asset
17. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Debt Service
Physical Intentory
Expensed Inventory
Encumbrance Types
18. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Revenue
Pension and other employee benefit Trust Fund
Encumbrance
Physical Intentory
19. Fund is an independent fiscla and accounting entity.
Indirect Project
Estimated Revenue
Revenue
Fund
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.
Fixed Asset
Debt Service Funds
Appropriation
Bond
21. 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
Baseline Budget
Revenue
Account Segment
Fund Balance
22. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Raw Cost
Internal Service Fund (ISF)
Overrealized Revenue
Debt Service Funds
23. 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
Purchase Order
Expenditures
Award
24. An accounting device established to control receipts and disbursements set aside to support specific activities.
Inventory Item
Cost Budget
General Purpose Revenue
Fund
25. 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).
Adopted Budget
Indirect Cost of Expense
Expenditure Type
Program Budget
26. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Force Account
Special Revenue Fund
Line Budget Item
Debt Service Funds
27. 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
Change Letter
Adopted Budget/Operational Plan
Capital Assets
Asset Management
28. 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.
General Purpose Revenue
Indirect Cost of Expense
Enterprise Funds
Award
29. 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.
Board of Supervisors
Special Revenu Fund
Indirect Cost of Expense
General 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
Force Account
Internal Agreement
Original Budget
Capital Improvement Plan (CIP)
31. 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.
Bond
Contract or Contract Purchase Agreement (CPA)
Asset Inventory
Current Budget
32. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Standard Purchase Order
General Purpose Revenue
Fund Balance
Funds
33. 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.
Invoise Types
Deficit
Expenditures
Indirect Cost of Expense
34. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Encumbrance Types
Genaral Revenue Allocation
Encumbrance
Special Revenu Fund
35. 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).
Fund Balance
Expensed Inventory
Revenue
Capital Outlay Fund (COA)
36. The spread of an assets cost over the time period it is used.
Proprietary Funds
Depreciate
Capital Assets
Capital Project
37. 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
Project
Internal Service Fund (ISF)
Full Cost
Indirect Cost or Indirect Expense
38. 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
Release
Reserve
Direct Expense
Adopted Budget/Operational Plan
39. 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 -
Internal Service Fund (ISF)
Board of Supervisors
Encumbrance
Avoidable Cost
40. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Deficit
Fixed Asset
Full Cost
Proprietary Funds
41. The amount of revenue expected to accrue or to be collected during a fiscal year.
Pension and other employee benefit Trust Fund
Depreciation
Bond
Estimated Revenue
42. A self-balancing set of accounts.
Debt Service
Fund
Expenditure
Capital Project
43. 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.
Standard Purchase Order
Grant
Capital Budget
Fiduciary Fund
44. A five-year list of planned capital projects - developed by the Department of General Services.
Capital Improvement Plan (CIP)
Service and Supplies
Indirect Cost or Indirect Expense
Line Type
45. 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
Appropriation
Invoice
Estimated Revenue
Trust Fund
46. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Encumbrance
Baseline Budget
Fixed Asset
Internal Service Fund (ISF)
47. 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.
Supplier
Governmental Funds
Capital Outlay Fund (COA)
Commitment
48. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Line Budget Item
General Purpose Revenue
Special Revenue Fund
Encumbrance Types
49. 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.
Capital Budget
Inventory Item
Encumbrance
Cost Budget
50. To approve an award budget for use in reporting and accounting.
Fiduciary Fund
Reserve
Baseline
Capital Improvement