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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. 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
Baseline
Obligation
Direct Expense
General Fund
2. Fund is an independent fiscla and accounting entity.
Fund
Accrual Basis of Accounting
Trust Fund
Depreciation
3. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Debt Service
Invoice
Debt Service Funds
Indirect Project
4. 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.
Capital Assets
Fixed Asset
Expenditures
Commitment
5. Accounts for the accumulation for and the payment of general long-term principal and interest.
General Fund
Productive Time
Fund
Debt Service Funds
6. The most recently baselined budget version of the budget.
Current Budget
Special Revenue Fund
Invoice
Deficit
7. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Account
Fund
Activity- Based Costing (ABC)
Capital Project Fund
8. 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).
Revenue
General Fund
Fund
Internal Service Funds
9. 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.
Enterprise Fund
Expensed Inventory
Bond
Internal Service Fund (ISF)
10. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Supplier
Capital Assets
Expenditure Type
Inventory Item
11. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Direct Expense
Special Revenue Fund
Fund
Invoice
12. The difference between budgeted amounts and all actual and anticipated expenditures.
Invoice
Account Segment
Funds Available
General Purpose Revenue
13. 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
Depreciate
Fiduciary Fund
Invoise Types
Line-Item Budget
14. 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.
Accrual Basis of Accounting
Fund
Indirect Cost or Indirect Expense
15. The Generally Accepted Accounting Principles( GAAP) promulgated by te Governmental Accountng Standards Board - which guide the recording and reporting of financial information by state and local governments.
Cash Basis of Accounting
Invoice
Fund
Accounting Standards
16. Elements of cost necessary in the production of an article of the performance of a services - but an integral part of the finished product or service - such a rent - heat light - supplies - management - second-level supervision. Can refer to Departme
Encumbrance Types
Special Revenue Fund
Account Segment
Indirect Cost or Indirect Expense
17. The amount of revenue expected to accrue or to be collected during a fiscal year.
Avoidable Cost
Original Budget
Estimated Revenue
Special Revenu Fund
18. 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
Unanticipated Revenue
Invoice
Force Account
19. 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
Depreciation
Appropriation
Purchase Order
Fund
20. 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.
Capital Project Fund
Reserve
Proprietary Funds
Fixed Asset
21. 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.
Deficit
Indirect Cost or Indirect Expense
Commitment
Award
22. 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
Depreciate
Fund
Full Cost
Cash Basis of Accounting
23. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Expenditure Type
Revenue
General Purpose Revenue
Capital Assets
24. 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.
General Fund
Full Tim Equivalency (FTE)
Board of Supervisors
Activity- Based Costing (ABC)
25. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
General Fund
General Fund
Revenue
Invoice
26. 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).
Depreciate
Accrual Basis of Accounting
Account Segment
Fixed Asset
27. 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 ).
Account
Indirect Project
Obligation
Depreciate
28. To approve an award budget for use in reporting and accounting.
Preliminary Budget
Capital Budget
Baseline
General Fund
29. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Chart of Accounts
Invoise Types
Accounting Standards
Current Budget
30. 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
Deficit
Direct Cost or Direct Expense
General Purpose Revenue
Enterprise Fund
31. 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
Line Type
Internal Service Funds
Invoice
32. 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.
Reserve
Average Balance
Purchase Requsition
Cost Budget
33. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Debt Service
Expenditure Type
Proprietary Funds
Indirect Cost of Expense
34. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Accounting Standards
Fund
Unanticipated Revenue
Fund
35. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Current Budget
Full Tim Equivalency (FTE)
Encumbrance
Estimated Revenue
36. 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.
Fixed Asset
Fund
Accounting Standards
Preliminary Budget
37. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Account Segment
Capital Budget
Encumbrance Types
Line-Item Budget
38. 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
Capital Project
Internal Service Funds
Internal Service Fund (ISF)
Depreciate
39. 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.
General Purpose Revenue
Enterprise Fund
Depreciation
Capital Project Fund
40. 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.
Standard Purchase Order
Program Budget
Capital Budget
Award
41. 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
Full Tim Equivalency (FTE)
Funds
Capital Projects Funds
Bond
42. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Capital Projects Funds
General Purpose Revenue
Average Balance
Depreciation
43. Are established by the Board of Supervisors and include Airports - Wastewater Management and Transit Enterprise Funds - County Sanitation Districts and various Internal Service Funds ( General Services Fleet Maintenance - Facilities Management and Do
Enterprise Fund
Internal Service Fund (ISF)
Capital Projects Funds
Force Account
44. 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.
Obligation
Adopted Budget
Award
Org.
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
Depreciation
Encumbrance
Accounting Standards
Inventory Items
46. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Purchase Requsition
Special Revenu Fund
Commitment
Preliminary Budget
47. A five-year list of planned capital projects - developed by the Department of General Services.
Accounting Standards
Line-Item Budget
Capital Improvement Plan (CIP)
Raw Cost
48. The budget amounts for a project at the first successful Baselining of the project.
General Fund
Original Budget
Purchase Order
Fund
49. An account that contains money set aside for a legaly restricted specifi future use.
Productive Time
Appropriation
Chart of Accounts
Reserve
50. Trust Fund and Agency Funds
Contract or Contract Purchase Agreement (CPA)
Debt Service Funds
Fiduciary
Data Warehouse