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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. To approve an award budget for use in reporting and accounting.
Genaral Revenue Allocation
Baseline
Line Budget Item
Special Revenu Fund
2. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Depreciation
Internal Agreement
Full Tim Equivalency (FTE)
Internal Service Funds
3. 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.
Internal Service Funds
Full Cost
Adopted Budget
Debt Service
4. 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
Direct Cost or Direct Expense
Force Account
Data Warehouse
Purchase Order
5. A classification of cost that is assigned to each expenditure items. Expenditure types are grouped into cost groups ( expenditure categories) and revenue groups ( revenue categories).
Current Budget
Expenditure Type
Activity- Based Costing (ABC)
Invoice
6. 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
Capital Outlay Fund (COA)
Funds Available
Capital Projects Funds
7. 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 Expense
Revenue
Fund
8. 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.
Revenue
Capital Improvement Plan (CIP)
Fund
Asset Inventory
9. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Revenue
Debt Service
Encumbrance
Invoise Types
10. 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.
Pension and other employee benefit Trust Fund
Grant
Productive Time
Funds
11. Accounts for the County's financial resources except those required to be accounted for in another fund.
Debt Service Funds
Line Budget Item
Baseline Budget
General Fund
12. 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 -
Supplier
Internal Service Funds
Bond
Capital Project
13. The most recently baselined budget version of the budget.
Current Budget
Revenue
Data Warehouse
Award
14. Trust Fund and Agency Funds
Asset Management
Genaral Revenue Allocation
Expenditure
Fiduciary
15. 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.
Expenditure
Depreciation
Genaral Revenue Allocation
Asset Management
16. 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.
General Fund
Expenditure Type
Baseline Budget
Debt Service Funds
17. 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.
Line-Item Budget
Blanket Purchase Agreement
Capital Project
Fixed Asset
18. 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
Proprietary Funds
Purchase Requsition
Capital Project
Indirect Cost of Expense
19. 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
Chart of Accounts
Force Account
Bond
Capital Improvement
20. 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
Depreciation
Capital Improvement
Accrual Basis of Accounting
21. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Special Revenue Fund
Commitment
Change Letter
Overrealized Revenue
22. 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.
Encumbrance
Purchase Order
Board of Supervisors
Asset Management
23. Enterprise Funds - Internal Service Fund
Encumbrance Types
Productive Time
Proprietary Funds
Fund
24. A five-year list of planned capital projects - developed by the Department of General Services.
Invoice
Capital Improvement Plan (CIP)
Cost Budget
Service and Supplies
25. An accounting device established to control receipts and disbursements set aside to support specific activities.
Line Budget Item
Invoise Types
Fund
Expenditures
26. Is derived from taxes - licenses - fees - and investment earnings.
Trust Fund
Deficit
Cost Budget
Revenue
27. Items that are stocked in intentory. Inventory is controlled by quantity and value. Remains an asset until it is consumed. The cost of an intentory items is recognized as an expense when it is consumed or sold.
Encumbrance Types
Blanket Purchase Agreement
Inventory Item
Capital Assets
28. 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 -
Overrealized Revenue
Grant
Genaral Revenue Allocation
Encumbrance
29. 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.
Inventory Items
Invoice
Internal Service Fund (ISF)
Enterprise Funds
30. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Capital Improvement Plan (CIP)
Spending Funds
Org.
General Purpose Revenue
31. 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
Line Type
General Purpose Revenue
Invoice
32. 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
Activity- Based Costing (ABC)
Average Balance
General Purpose Revenue
Enterprise Fund
33. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
General Purpose Revenue
Cost Applied
Adopted Budget/Operational Plan
Account
34. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.
Invoice
Cash Basis of Accounting
Service and Supplies
Bond
35. 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.
Inventory Item
Activity- Based Costing (ABC)
Depreciation
General Purpose Revenue
36. 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.
Reserve
Program Budget
Capital Projects Funds
Enterprise Fund
37. 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.
Internal Agreement
Fund
Deficit
Internal Service Fund (ISF)
38. 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
Full Cost
Capital Improvement Plan (CIP)
Indirect Cost of Expense
39. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Baseline
General Purpose Revenue
Fiduciary Fund
Special Revenu Fund
40. 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.
Special Revenue Fund
Capital Budget
General Purpose Revenue
Inventory Items
41. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
General Purpose Revenue
Account
Account Segment
Capital Budget
42. 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
Data Warehouse
Cash Basis of Accounting
43. An account that contains money set aside for a legaly restricted specifi future use.
Reserve
Invoice
Debt Service
Enterprise Fund
44. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Funds Available
Invoice
Internal Service Funds
General Purpose Revenue
45. 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.
Revenue
Internal Service Fund (ISF)
Invoise Types
Contract or Contract Purchase Agreement (CPA)
46. 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.
Accounting Standards
Cash Basis of Accounting
Special Revenu Fund
Funds
47. One or more funds that account for the goods and services provided by one department to another within a government on a cost-reimbursement basis. ( General Services Facilities Management - Fleet Maintenance - and Document Services ISF) will budget a
Pension and other employee benefit Trust Fund
Internal Service Fund (ISF)
Line-Item Budget
Account Segment
48. 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.
Internal Service Fund (ISF)
Standard Purchase Order
Expenditure
Blanket Purchase Agreement
49. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
General Purpose Revenue
Baseline Budget
Enterprise Funds
Overrealized Revenue
50. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Spending Funds
Capital Project Fund
Baseline Budget
Project