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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 accounting device established to control receipts and disbursements set aside to support specific activities.
Capital Project Fund
Fund
Trust Fund
Program Budget
2. 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.
Purchase Requsition
Encumbrance
Force Account
Contract or Contract Purchase Agreement (CPA)
3. 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.
Grant
Depreciate
Commitment
Internal Service Fund (ISF)
4. 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.
Encumbrance
Fixed Asset
Encumbrance
Supplier
5. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Obligation
Cost Applied
Purchase Order
Expensed Inventory
6. Is derived from taxes - licenses - fees - and investment earnings.
General Purpose Revenue
Revenue
Direct Cost or Direct Expense
Enterprise Funds
7. Accounts for the accumulation for and the payment of general long-term principal and interest.
Governmental Funds
Capital Budget
Revenue
Debt Service Funds
8. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Supplier
Spending Funds
Genaral Revenue Allocation
Baseline Budget
9. Enterprise Funds - Internal Service Fund
Deficit
Proprietary Funds
Encumbrance
General Purpose Revenue
10. 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.
Fund Balance
Fund
Program Budget
Expenditure
11. 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
Capital Assets
Encumbrance
Inventory Items
Pension and other employee benefit Trust Fund
12. 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
Cost Budget
Fund
Commitment
Adopted Budget/Operational Plan
13. 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
Line Budget Item
Award
Service and Supplies
14. 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.
Funds
Grant
Appropriation
Preliminary Budget
15. 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 -
Inventory Item
Capital Project
Expensed Inventory
Fiduciary Fund
16. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Cost Applied
Account
Capital Project Fund
Expenditures
17. 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.
Trust Fund
Fund
Funds Available
Fiduciary Fund
18. 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.
Release
Revenue
Fixed Asset
Encumbrance
19. The budget amounts for a project at the first successful Baselining of the project.
Blanket Purchase Agreement
Release
Full Cost
Original Budget
20. Annual principal and interest payments that local government owes on borrowed money.
Purchase Requsition
Supplier
Capital Project
Debt Service
21. 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.
Physical Intentory
General Fund
Internal Service Fund (ISF)
Reserve
22. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Internal Service Fund (ISF)
Expenditure Type
Encumbrance
Cost Budget
23. An itemized statement of money owed for goods shipped or services rendered
Invoice
Data Warehouse
Org.
Funds
24. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Line Type
Raw Cost
Baseline
Average Balance
25. 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.
Trust Fund
General Purpose Revenue
Adopted Budget/Operational Plan
Change Letter
26. The amount of revenue expected to accrue or to be collected during a fiscal year.
Baseline
Estimated Revenue
Internal Service Fund (ISF)
Blanket Purchase Agreement
27. 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.
Proprietary Funds
Indirect Cost or Indirect Expense
Deficit
Invoice
28. Expenditures related to the acquisition - expansion - or rehabilitatin of major fixed assets - such as land - buildings - structures - and certain types of equipment; remodeling/upgrades which improve or enhance the use of an existing facility or spa
Pension and other employee benefit Trust Fund
Contract or Contract Purchase Agreement (CPA)
Capital Improvement
Capital Project Fund
29. 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 -
Encumbrance
Fund Balance
Release
Overrealized Revenue
30. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Invoice
Data Warehouse
Org.
Award
31. 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.
Fund
Grant
General Fund
Revenue
32. 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.
Estimated Revenue
Depreciation
Productive Time
Supplier
33. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Direct Cost or Direct Expense
Adopted Budget
Expenditures
Line Type
34. An account that contains money set aside for a legaly restricted specifi future use.
Cost Budget
Fund Balance
Reserve
Adopted Budget
35. When the PO is created from the Requisiton in Purchasing. This action then relieves the Commitment encumbrance that was created by the Requsition and creates an Obligation.
Funds
Standard Purchase Order
Special Revenu Fund
Obligation
36. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Change Letter
Account Segment
Spending Funds
Full Cost
37. To approve an award budget for use in reporting and accounting.
Data Warehouse
Direct Expense
Encumbrance
Baseline
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.
Fund
Standard Purchase Order
Capital Improvement
Pension and other employee benefit Trust Fund
39. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Indirect Cost or Indirect Expense
Cash Basis of Accounting
Debt Service Funds
Account Segment
40. 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.
Baseline
Depreciation
Revenue
Bond
41. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Fund
Encumbrance
Proprietary Funds
Full Cost
42. 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
Enterprise Funds
Direct Cost or Direct Expense
Enterprise Fund
Revenue
43. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Internal Service Fund (ISF)
Change Letter
Encumbrance Types
Direct Cost or Direct Expense
44. 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.
Expensed Inventory
Invoice
Board of Supervisors
Fiduciary
45. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Enterprise Funds
Expenditures
Account
Proprietary Funds
46. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Revenue
Encumbrance Types
Expensed Inventory
Internal Service Fund (ISF)
47. 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.
Invoice
Fiduciary Fund
Grant
Funds
48. 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
Account Segment
Internal Service Fund (ISF)
Fund Balance
Chart of Accounts
49. The account structure an enterprise uses to record transactions and maintain account balances.
Encumbrance Types
Award
Chart of Accounts
General Purpose Revenue
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
Depreciation
General Fund
Supplier