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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. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Invoice
Fixed Asset
Line Budget Item
General Purpose Revenue
2. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Bond
Line-Item Budget
Account
Direct Expense
3. 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.
Baseline
Award
Adopted Budget
Internal Service Fund (ISF)
4. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Line Type
Special Revenu Fund
Cost Applied
Account Segment
5. 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.
Debt Service Funds
Board of Supervisors
Encumbrance
Service and Supplies
6. A self-balancing set of accounts.
Asset Management
Fund
Board of Supervisors
Grant
7. The electronic process of mainaining an itemized list of current inventory.
Pension and other employee benefit Trust Fund
Activity- Based Costing (ABC)
Expenditure Type
Asset Management
8. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Supplier
Special Revenu Fund
Special Revenue Fund
Full Tim Equivalency (FTE)
9. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Revenue
Funds Available
Release
General Purpose Revenue
10. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Deficit
Preliminary Budget
Cost Budget
Capital Project
11. A type of Purchase Order that is issued to specify agreed-to prices - delivery periods or other terms for goods or services that will be ordered ( released) for actual delivery later. A BPA is normally issued to cover a long-term agreement period suc
General Fund
Blanket Purchase Agreement
Invoice
Encumbrance
12. 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
Revenue
Account Segment
Force Account
Expenditure
13. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Enterprise Fund
Funds
Spending Funds
Inventory Items
14. 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.
Direct Cost or Direct Expense
Supplier
Current Budget
Internal Agreement
15. The Board of Supervisors approved an annual spending plan for proprietary funds. The adopted expense estimates are not appropriations - their budgetary controls are the same as those of governments funds.
Accrual Basis of Accounting
Spending Funds
Capital Project
Purchase Requsition
16. 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).
Proprietary Funds
Encumbrance Types
Accrual Basis of Accounting
Enterprise Funds
17. Units of work that can be broken down into one or more task to capture and related revenue.
Enterprise Funds
Project
Original Budget
Internal Service Fund (ISF)
18. The term used for major contsruction projects - the acqusition of land - and the investment in major Capital Assets in the County. The project assets are of significant value and have a useful life of five years or more. Imcude the purchase of land -
Internal Service Funds
Grant
Preliminary Budget
Capital Project
19. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Debt Service Funds
Internal Agreement
Accrual Basis of Accounting
Board of Supervisors
20. 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.
Line Type
Inventory Item
Depreciation
Program Budget
21. 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
Expenditure Type
Average Balance
Indirect Cost or Indirect Expense
22. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Trust Fund
Capital Budget
Pension and other employee benefit Trust Fund
Invoise Types
23. 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.
Inventory Item
Capital Projects Funds
Contract or Contract Purchase Agreement (CPA)
Revenue
24. 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.
Obligation
Force Account
Standard Purchase Order
Expensed Inventory
25. 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.
Grant
Productive Time
Pension and other employee benefit Trust Fund
Fiduciary Fund
26. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Line-Item Budget
Asset Management
Account Segment
Supplier
27. 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.
Deficit
Internal Service Fund (ISF)
Depreciate
Change Letter
28. 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.
Spending Funds
Invoice
Full Tim Equivalency (FTE)
Grant
29. General - Special Revenue Funds - Capital Project Funds - Debt Service Funds
Activity- Based Costing (ABC)
Governmental Funds
Data Warehouse
Physical Intentory
30. The difference between budgeted amounts and all actual and anticipated expenditures.
Internal Service Fund (ISF)
Adopted Budget
Funds Available
Governmental Funds
31. The spread of an assets cost over the time period it is used.
Depreciate
Genaral Revenue Allocation
Baseline
Funds Available
32. 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.
Purchase Order
Original Budget
Baseline Budget
Enterprise Fund
33. 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
Activity- Based Costing (ABC)
Inventory Items
Proprietary Funds
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 - as distiquished from overhead and other indirect costs which most be prorated among several products or services - dep
General Fund
Direct Cost or Direct Expense
Proprietary Funds
Direct Expense
35. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Data Warehouse
Purchase Order
Proprietary Funds
Deficit
36. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Trust Fund
Cost Budget
Encumbrance
Pension and other employee benefit Trust Fund
37. The amount of revenue expected to accrue or to be collected during a fiscal year.
Indirect Cost or Indirect Expense
Capital Improvement
Estimated Revenue
Pension and other employee benefit Trust Fund
38. 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.
Purchase Requsition
Standard Purchase Order
Accounting Standards
Bond
39. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Depreciation
Special Revenue Fund
Genaral Revenue Allocation
Pension and other employee benefit Trust Fund
40. 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
Board of Supervisors
Asset
Proprietary Funds
41. 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.
Depreciation
Full Cost
Average Balance
Expenditure
42. 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.
Proprietary Funds
Fixed Asset
Unanticipated Revenue
Invoise Types
43. Enterprise Funds - Internal Service Fund
Expenditures
Proprietary Funds
General Fund
Internal Service Fund (ISF)
44. 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).
Org.
Average Balance
Special Revenu Fund
Indirect Cost of Expense
45. 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
Preliminary Budget
Productive Time
Encumbrance
Inventory Items
46. Annual principal and interest payments that local government owes on borrowed money.
Expenditure
Physical Intentory
Debt Service
Debt Service Funds
47. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.
Direct Cost or Direct Expense
Genaral Revenue Allocation
Depreciation
General Fund
48. 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
Enterprise Fund
Internal Service Fund (ISF)
Debt Service
49. 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
Debt Service
Deficit
Inventory Item
50. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Invoice
Special Revenue Fund
Account
Unanticipated Revenue