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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 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.
Estimated Revenue
Expenditure
Special Revenu Fund
Fixed Asset
2. 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).
Program Budget
Adopted Budget
Grant
Revenue
3. 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).
Indirect Cost or Indirect Expense
Obligation
Productive Time
Expenditure Type
4. 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
Cost Applied
Invoice
Line-Item Budget
Capital Projects Funds
5. An itemized statement of money owed for goods shipped or services rendered
Invoice
Debt Service Funds
Expenditure
Encumbrance
6. 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.
Award
Depreciate
Encumbrance
Preliminary Budget
7. 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.
Expensed Inventory
Encumbrance
Estimated Revenue
Asset Management
8. Enterprise Funds - Internal Service Fund
Purchase Requsition
Proprietary Funds
Indirect Cost of Expense
Fund
9. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Full Tim Equivalency (FTE)
Asset
Special Revenu Fund
Funds
10. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Expenditure
Standard Purchase Order
Fund
Average Balance
11. A self-balancing set of accounts.
Line-Item Budget
Asset Management
Adopted Budget/Operational Plan
Fund
12. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Program Budget
Asset Inventory
Revenue
Special Revenu Fund
13. The spread of an assets cost over the time period it is used.
Average Balance
Expenditure
Invoice
Depreciate
14. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Appropriation
Service and Supplies
Capital Assets
Full Tim Equivalency (FTE)
15. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Proprietary Funds
Baseline
Data Warehouse
Line-Item Budget
16. 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
Invoise Types
Estimated Revenue
Program Budget
17. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Inventory Item
Capital Outlay Fund (COA)
Grant
Baseline Budget
18. 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.
Org.
Trust Fund
Deficit
Proprietary Funds
19. 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.
Revenue
Invoise Types
Fixed Asset
Award
20. 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
Reserve
Contract or Contract Purchase Agreement (CPA)
Proprietary Funds
21. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
General Purpose Revenue
Estimated Revenue
Capital Project
Activity- Based Costing (ABC)
22. 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.
Board of Supervisors
Internal Service Fund (ISF)
Encumbrance
Capital Project
23. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Revenue
Enterprise Fund
Preliminary Budget
Grant
24. 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
Physical Intentory
Indirect Project
Proprietary Funds
25. 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.
Expensed Inventory
Asset Inventory
Preliminary Budget
Cash Basis of Accounting
26. Fund is an independent fiscla and accounting entity.
Accrual Basis of Accounting
Cost Budget
Fund
Grant
27. 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.
Force Account
Adopted Budget
Release
Unanticipated Revenue
28. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Force Account
Average Balance
Enterprise Funds
Encumbrance Types
29. 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
Encumbrance
Capital Project
Bond
Change Letter
30. The amount of revenue expected to accrue or to be collected during a fiscal year.
Inventory Items
Estimated Revenue
Asset Management
Fiduciary
31. 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
Obligation
Accounting Standards
Spending Funds
32. An accounting device established to control receipts and disbursements set aside to support specific activities.
Debt Service Funds
Enterprise Fund
Estimated Revenue
Fund
33. 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 -
Preliminary Budget
Productive Time
Capital Projects Funds
Encumbrance
34. 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.
Fiduciary Fund
Internal Service Fund (ISF)
Capital Project
Fixed Asset
35. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Enterprise Fund
Cost Budget
Supplier
Fund
36. 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
Estimated Revenue
Enterprise Fund
Baseline
Account Segment
37. An account that contains money set aside for a legaly restricted specifi future use.
Overrealized Revenue
Commitment
Project
Reserve
38. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Bond
Indirect Cost of Expense
Inventory Item
Raw Cost
39. 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).
Adopted Budget
Current Budget
Full Cost
Org.
40. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Grant
Indirect Project
Special Revenue Fund
Change Letter
41. 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
Release
Cash Basis of Accounting
Fund
General Purpose Revenue
42. The budget amounts for a project at the first successful Baselining of the project.
Enterprise Funds
Original Budget
Fixed Asset
Contract or Contract Purchase Agreement (CPA)
43. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Service and Supplies
Overrealized Revenue
Debt Service
Blanket Purchase Agreement
44. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Commitment
Governmental Funds
Enterprise Funds
Force Account
45. 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
Line Budget Item
Asset Inventory
Funds
Grant
46. 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
Release
Capital Project
Estimated Revenue
Invoice
47. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Reserve
Capital Project
Inventory Item
Account
48. Trust Fund and Agency Funds
Fiduciary
Debt Service Funds
Project
Deficit
49. 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
Governmental Funds
Indirect Cost or Indirect Expense
Capital Assets
Proprietary Funds
50. 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).
Accrual Basis of Accounting
Indirect Cost or Indirect Expense
Internal Service Fund (ISF)
Avoidable Cost