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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. 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
Original Budget
Inventory Items
Depreciation
2. 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).
Capital Project
Revenue
Project
Capital Project
3. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Raw Cost
Line-Item Budget
Baseline
Enterprise Fund
4. 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.
Fund
Asset Inventory
Preliminary Budget
Encumbrance
5. When the PO is created from the Requisiton in Purchasing. This action then relieves the Commitment encumbrance that was created by the Requsition and creates an Obligation.
Depreciate
Capital Improvement Plan (CIP)
Obligation
Encumbrance
6. The difference between budgeted amounts and all actual and anticipated expenditures.
Funds Available
Accounting Standards
Grant
Productive Time
7. 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.
Force Account
Fixed Asset
Indirect Cost of Expense
Depreciate
8. 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
Inventory Item
Obligation
Fund
9. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Invoice
Funds
Capital Project Fund
Inventory Items
10. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Change Letter
Force Account
Inventory Item
Account Segment
11. 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.
Full Cost
Grant
Accrual Basis of Accounting
Data Warehouse
12. 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.
Accounting Standards
General Purpose Revenue
Funds Available
Physical Intentory
13. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Grant
Supplier
Invoice
Baseline Budget
14. 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.
General Fund
Governmental Funds
Accrual Basis of Accounting
Asset Inventory
15. 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
Line-Item Budget
Invoice
Full Cost
Fund
16. To approve an award budget for use in reporting and accounting.
Service and Supplies
Baseline
Invoise Types
Funds
17. 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
Commitment
Invoise Types
Asset Management
18. Is derived from taxes - licenses - fees - and investment earnings.
Invoice
Appropriation
Revenue
Expenditure Type
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.
Unanticipated Revenue
Contract or Contract Purchase Agreement (CPA)
Capital Project Fund
Expenditure Type
20. 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
Inventory Item
Depreciation
Capital Project Fund
Program Budget
21. 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.
Adopted Budget
Debt Service Funds
Funds
Capital Project
22. 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
Appropriation
Blanket Purchase Agreement
Direct Expense
Expensed Inventory
23. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Invoise Types
Cost Applied
Special Revenue Fund
Governmental Funds
24. 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
Purchase Order
Enterprise Fund
Estimated Revenue
Internal Service Fund (ISF)
25. 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
Grant
Preliminary Budget
Original Budget
26. 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.
Force Account
Capital Budget
Raw Cost
Fund
27. Contributions or gifts of cash or other assets from another government or agency to be used or expended for a specified purpose - activity or facility.
Grant
Adopted Budget
Indirect Cost of Expense
Capital Project
28. The most recently baselined budget version of the budget.
Debt Service Funds
Preliminary Budget
Physical Intentory
Current Budget
29. 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
Revenue
Capital Budget
Indirect Cost or Indirect Expense
Debt Service
30. 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.
Full Tim Equivalency (FTE)
Fiduciary Fund
Service and Supplies
Baseline Budget
31. 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 -
Debt Service Funds
Revenue
Capital Project
Cash Basis of Accounting
32. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.
Estimated Revenue
Depreciation
General Purpose Revenue
Enterprise Funds
33. 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.
Special Revenu Fund
Capital Improvement Plan (CIP)
Accounting Standards
Invoice
34. The amount of revenue expected to accrue or to be collected during a fiscal year.
Internal Service Fund (ISF)
Adopted Budget/Operational Plan
Program Budget
Estimated Revenue
35. 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
Deficit
Line Budget Item
Org.
Revenue
36. Those elements of cost necessary in the production of an article or the performance of a service but no an integral part of the finished product or service - such as rent - heat - light - supplies - management - supervision - etc.
Indirect Cost of Expense
Indirect Project
Commitment
Depreciation
37. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Asset
Grant
Unanticipated Revenue
Data Warehouse
38. 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.
Enterprise Fund
Current Budget
General Fund
Invoice
39. 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 -
Physical Intentory
Data Warehouse
Encumbrance
Direct Expense
40. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Physical Intentory
Encumbrance Types
Expensed Inventory
Preliminary Budget
41. A five-year list of planned capital projects - developed by the Department of General Services.
Standard Purchase Order
Cash Basis of Accounting
Capital Improvement Plan (CIP)
Full Cost
42. Accounts for the County's financial resources except those required to be accounted for in another fund.
Expensed Inventory
Force Account
General Fund
Standard Purchase Order
43. 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
Inventory Item
Purchase Requsition
Service and Supplies
44. 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
Debt Service Funds
Full Cost
Fund Balance
45. A self-balancing set of accounts.
Project
Fund
Productive Time
Appropriation
46. 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.
Accrual Basis of Accounting
Depreciation
Standard Purchase Order
Spending Funds
47. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Preliminary Budget
Revenue
Invoice
Capital Improvement Plan (CIP)
48. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Adopted Budget
Expensed Inventory
Encumbrance Types
Purchase Order
49. The amount of revenue expected to accrue or to be collected during a fiscal year.
Cost Budget
Estimated Revenue
Full Tim Equivalency (FTE)
Encumbrance
50. 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
Spending Funds
Funds
Indirect Cost or Indirect Expense