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Oracle Vocab

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. 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.






2. 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






3. 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.






4. A five-year list of planned capital projects - developed by the Department of General Services.






5. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.






6. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.






7. The of the cost of a fixed asset - other than a wasting asset - charged as an expense during a particular period. The cost of a fixed asses less any salvage value is prorated over the estimated service life of such an asset - and each period is charg






8. 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






9. The amount of revenue expected to accrue or to be collected during a fiscal year.






10. 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.






11. When one department or fund desires services from another department or fund and the department or fund providing the service sgree to a scope of work and an estimated budget and schedule.






12. 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






13. An accounting device established to control receipts and disbursements set aside to support specific activities.






14. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds






15. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.






16. 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






17. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.






18. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.






19. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts






20. A type of purchase order that can be issued for delivery of goods or services for specific dates and locations. Each standard purchase order line can have multiple shipments and ca distribute the quantity of each shipment across multiple accounts.






21. The budget amounts for a project at the first successful Baselining of the project.






22. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.






23. 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.






24. 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.






25. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.






26. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.






27. The amount of revenue expected to accrue or to be collected during a fiscal year.






28. 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.






29. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.






30. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -






31. 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).






32. 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






33. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).






34. 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.






35. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.






36. 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.






37. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.






38. 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.






39. 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.






40. Annual principal and interest payments that local government owes on borrowed money.






41. 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).






42. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.






43. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.






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






45. 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.






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.






47. 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.






48. 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.






49. 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.






50. 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.