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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 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.
Funds Available
Cost Applied
Capital Budget
Force Account
2. To approve an award budget for use in reporting and accounting.
Asset Inventory
Depreciate
Adopted Budget/Operational Plan
Baseline
3. The spread of an assets cost over the time period it is used.
Depreciation
Asset Inventory
Depreciate
Pension and other employee benefit Trust Fund
4. 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
Appropriation
Adopted Budget
Invoice
Raw Cost
5. 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.
Adopted Budget/Operational Plan
Expenditures
Grant
Enterprise Fund
6. 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.
Asset
Change Letter
Spending Funds
Internal Service Fund (ISF)
7. 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 -
General Purpose Revenue
Encumbrance
Capital Project
Fixed Asset
8. An itemized statement of money owed for goods shipped or services rendered
Grant
Invoice
Blanket Purchase Agreement
Capital Project
9. 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.
Commitment
Supplier
Blanket Purchase Agreement
Depreciate
10. The electronic process of mainaining an itemized list of current inventory.
Asset Management
Original Budget
Grant
Genaral Revenue Allocation
11. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Commitment
Full Tim Equivalency (FTE)
Capital Project
Capital Assets
12. 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.
Deficit
Internal Service Fund (ISF)
Unanticipated Revenue
Grant
13. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Unanticipated Revenue
Reserve
Encumbrance
Governmental Funds
14. 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
Cost Budget
Debt Service
Capital Assets
Purchase Requsition
15. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Invoise Types
Accrual Basis of Accounting
Raw Cost
Fund
16. 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.
Inventory Items
Spending Funds
Standard Purchase Order
Trust Fund
17. 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
Debt Service
Enterprise Fund
Bond
Original Budget
18. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Raw Cost
Asset Inventory
Avoidable Cost
Funds
19. 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
Depreciate
Award
Standard Purchase Order
Avoidable Cost
20. 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
Capital Project
Overrealized Revenue
Indirect Cost or Indirect Expense
Reserve
21. 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.
Asset
Funds
Accounting Standards
Capital Improvement
22. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Proprietary Funds
Baseline Budget
Full Cost
Enterprise Funds
23. 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.
General Fund
Baseline Budget
Internal Agreement
Grant
24. 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.
Fixed Asset
Encumbrance Types
Encumbrance
Encumbrance
25. Accounts for the County's financial resources except those required to be accounted for in another fund.
Accounting Standards
Special Revenue Fund
Governmental Funds
General Fund
26. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Accrual Basis of Accounting
Special Revenu Fund
Data Warehouse
Encumbrance
27. 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.
Enterprise Funds
Special Revenu Fund
Productive Time
Unanticipated Revenue
28. Accounts for the accumulation for and the payment of general long-term principal and interest.
Activity- Based Costing (ABC)
Capital Improvement
Debt Service Funds
Indirect Cost or Indirect Expense
29. 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.
Expensed Inventory
Direct Cost or Direct Expense
Grant
Capital Outlay Fund (COA)
30. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Expensed Inventory
Capital Budget
Internal Service Funds
Inventory Item
31. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Inventory Item
Line Type
Direct Expense
Deficit
32. The difference between budgeted amounts and all actual and anticipated expenditures.
Invoice
Purchase Order
Genaral Revenue Allocation
Funds Available
33. 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.
Program Budget
Direct Expense
Accrual Basis of Accounting
Internal Agreement
34. 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
Expenditures
Blanket Purchase Agreement
Appropriation
Avoidable Cost
35. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Funds
Baseline Budget
Enterprise Funds
Cost Applied
36. 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.
Award
Board of Supervisors
Appropriation
Expenditure Type
37. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Capital Projects Funds
Award
Blanket Purchase Agreement
Cost Applied
38. 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
Force Account
Debt Service
Preliminary Budget
Depreciation
39. Enterprise Funds - Internal Service Fund
Physical Intentory
Encumbrance
Baseline Budget
Proprietary Funds
40. 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.
Trust Fund
Fund
Revenue
Enterprise Funds
41. 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.
Encumbrance
Inventory Item
Asset Management
Preliminary Budget
42. A self-balancing set of accounts.
Fund
Inventory Items
Internal Agreement
Estimated Revenue
43. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Cash Basis of Accounting
Chart of Accounts
Internal Service Fund (ISF)
Adopted Budget
44. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Encumbrance Types
Service and Supplies
Indirect Project
Funds Available
45. 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
Direct Expense
Encumbrance Types
Depreciate
Debt Service Funds
46. An account that contains money set aside for a legaly restricted specifi future use.
Reserve
Cost Budget
General Fund
Debt Service
47. An Actual order(sub-order) of goods and services issued against a Blanket Purchase Agreement (BPA) for actual delivery with specified quantities - dates and the accounting information.
Special Revenu Fund
Depreciation
Release
Appropriation
48. 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.
Inventory Item
Fiduciary Fund
Expenditure Type
Asset Management
49. 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
General Purpose Revenue
Current Budget
Fund
Full Cost
50. Governmental funds established to accont for financial resources used for the acqusition or construction of major capital facilities ( other than those accounted for in proprietary funds).
Direct Cost or Direct Expense
Adopted Budget
Capital Projects Funds
Asset Inventory