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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 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.
Reserve
Bond
Internal Service Funds
Expensed Inventory
2. 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.
Accounting Standards
Grant
Fund
Capital Projects Funds
3. 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.
Grant
Asset Inventory
Enterprise Fund
Depreciation
4. The amount of revenue expected to accrue or to be collected during a fiscal year.
Blanket Purchase Agreement
Estimated Revenue
Preliminary Budget
Proprietary Funds
5. 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
Debt Service Funds
Internal Service Fund (ISF)
Capital Project
Appropriation
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.
Internal Service Fund (ISF)
Bond
Invoise Types
Purchase Requsition
7. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Capital Improvement Plan (CIP)
Unanticipated Revenue
Funds Available
Account Segment
8. 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.
Chart of Accounts
Purchase Requsition
Capital Outlay Fund (COA)
Adopted Budget
9. 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
Revenue
Account Segment
Board of Supervisors
10. 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).
Expenditure Type
Trust Fund
Internal Agreement
Pension and other employee benefit Trust Fund
11. 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
Accounting Standards
Accrual Basis of Accounting
Capital Projects Funds
12. 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.
Commitment
Inventory Item
Encumbrance
Genaral Revenue Allocation
13. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Inventory Item
Revenue
Governmental Funds
Internal Service Fund (ISF)
14. 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.
Invoice
Award
Account
Current Budget
15. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Enterprise Fund
Capital Budget
Program Budget
Pension and other employee benefit Trust Fund
16. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Full Tim Equivalency (FTE)
Enterprise Fund
Reserve
Avoidable Cost
17. Units of work that can be broken down into one or more task to capture and related revenue.
Funds
Direct Expense
Project
Adopted Budget/Operational Plan
18. Fund is an independent fiscla and accounting entity.
Internal Service Funds
Fund
Raw Cost
Estimated Revenue
19. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Fund
Unanticipated Revenue
Purchase Requsition
Depreciation
20. 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
Enterprise Funds
Force Account
Account Segment
21. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Enterprise Fund
Depreciate
Capital Project Fund
Deficit
22. 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
Indirect Cost or Indirect Expense
Revenue
Cost Budget
23. The most recently baselined budget version of the budget.
Blanket Purchase Agreement
Revenue
Current Budget
Proprietary Funds
24. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Purchase Order
Blanket Purchase Agreement
Fund
General Purpose Revenue
25. 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.
Revenue
Project
Estimated Revenue
Encumbrance
26. 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 Purpose Revenue
Special Revenu Fund
Program Budget
27. 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
Enterprise Fund
Fund
Expenditures
Purchase Requsition
28. 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
Funds
Enterprise Fund
Capital Project
Deficit
29. 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.
Expenditure
Revenue
Asset Inventory
Depreciation
30. 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
Invoice
Fund Balance
Special Revenue Fund
General Purpose Revenue
31. 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 -
Account Segment
General Purpose Revenue
Encumbrance
Internal Service Fund (ISF)
32. 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).
Full Tim Equivalency (FTE)
Fixed Asset
Org.
Cash Basis of Accounting
33. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Capital Improvement
Capital Assets
Asset
Estimated Revenue
34. 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
Deficit
Spending Funds
Board of Supervisors
Bond
35. 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.
Cost Budget
Special Revenue Fund
Release
Productive Time
36. 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 -
Capital Project
Average Balance
Productive Time
Accounting Standards
37. 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.
Accrual Basis of Accounting
Full Cost
Internal Service Fund (ISF)
Release
38. Accounts for the County's financial resources except those required to be accounted for in another fund.
Contract or Contract Purchase Agreement (CPA)
Award
Revenue
General Fund
39. 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
Line-Item Budget
Board of Supervisors
Invoice
Release
40. 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.
General Fund
Appropriation
Adopted Budget/Operational Plan
Service and Supplies
41. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Capital Project Fund
Board of Supervisors
Overrealized Revenue
Invoise Types
42. 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
Obligation
Capital Projects Funds
Indirect Cost or Indirect Expense
43. The amount of revenue expected to accrue or to be collected during a fiscal year.
Estimated Revenue
Standard Purchase Order
Internal Service Fund (ISF)
Invoise Types
44. 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
Invoice
Data Warehouse
Internal Service Fund (ISF)
Fund
45. 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.
Account
Estimated Revenue
Spending Funds
Indirect Cost or Indirect Expense
46. 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.
Expensed Inventory
Avoidable Cost
Standard Purchase Order
Funds Available
47. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Grant
Direct Expense
Proprietary Funds
Direct Cost or Direct Expense
48. The electronic process of mainaining an itemized list of current inventory.
Average Balance
Full Cost
Indirect Project
Asset Management
49. Is derived from taxes - licenses - fees - and investment earnings.
Encumbrance
Data Warehouse
Revenue
Expenditure
50. 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
Capital Improvement
Reserve
Board of Supervisors
Depreciation