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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. 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.






2. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.






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






4. 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.






5. 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.






6. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.






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






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






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






10. Accounts for the County's financial resources except those required to be accounted for in another fund.






11. 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.






12. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.






13. 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






14. The spread of an assets cost over the time period it is used.






15. 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.






16. 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.






17. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.






18. 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.






19. 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.






20. 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.






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






22. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.






23. 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.






24. 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.






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






26. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.






27. 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






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






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 -






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






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






32. 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).






33. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.






34. Trust Fund and Agency Funds






35. Includes the all elements of cost for the production of a good or service - including direct - indirect - and overhead costs. Full cost includes raw costs - plus all apllicable burden costs for raw labor.






36. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.






37. 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






38. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.






39. 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






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






41. The difference between budgeted amounts and all actual and anticipated expenditures.






42. 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






43. 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






44. 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






45. A self-balancing set of accounts.






46. The most recently baselined budget version of the budget.






47. 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.






48. 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






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






50. 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.