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Oracle Vocab
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Subjects
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oracle
,
it-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. Classificaiton used to account for a government's ongoing organizatons and activities that are similar to those often found in the private sector -
Estimated Revenue
Proprietary Funds
Grant
Revenue
2. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.
Line-Item Budget
Service and Supplies
General Fund
Capital Project
3. 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
Fiduciary Fund
Proprietary Funds
Encumbrance
4. 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
Physical Intentory
Depreciate
Fiduciary
5. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Line-Item Budget
Capital Projects Funds
Internal Service Funds
Internal Service Fund (ISF)
6. 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 ).
Fund
Pension and other employee benefit Trust Fund
Indirect Project
Fiduciary
7. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
General Fund
Depreciation
Physical Intentory
Capital Budget
8. 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
Fiduciary
Fund
Capital Project
Fund Balance
9. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Asset Inventory
Avoidable Cost
Governmental Funds
Account Segment
10. 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.
Purchase Requsition
Asset Inventory
Proprietary Funds
Depreciation
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.
Indirect Cost or Indirect Expense
Debt Service
Special Revenue Fund
Special Revenu Fund
12. An accounting device established to control receipts and disbursements set aside to support specific activities.
Fund Balance
Proprietary Funds
Fund
Commitment
13. An account that contains money set aside for a legaly restricted specifi future use.
Capital Project Fund
Capital Outlay Fund (COA)
Reserve
Debt Service Funds
14. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Expenditure
Unanticipated Revenue
Service and Supplies
Deficit
15. Units of work that can be broken down into one or more task to capture and related revenue.
Cost Budget
Estimated Revenue
Fund
Project
16. 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.
Line-Item Budget
Fund
Fiduciary
Commitment
17. 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
Revenue
Capital Project
Full Cost
18. 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.
Indirect Cost or Indirect Expense
Fund
Purchase Requsition
Capital Project
19. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Indirect Cost of Expense
Raw Cost
Funds
Debt Service Funds
20. 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
Line Budget Item
Cash Basis of Accounting
Capital Improvement
Enterprise Fund
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.
Grant
Full Tim Equivalency (FTE)
Accounting Standards
Account Segment
22. Fund is an independent fiscla and accounting entity.
Purchase Order
Capital Projects Funds
Encumbrance
Fund
23. 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).
Account Segment
Baseline Budget
Expenditure Type
Adopted Budget
24. A five-year list of planned capital projects - developed by the Department of General Services.
Average Balance
Internal Agreement
Standard Purchase Order
Capital Improvement Plan (CIP)
25. 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
Fund
Line Budget Item
Grant
Physical Intentory
26. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.
Cost Budget
Depreciation
Indirect Project
Project
27. Accounts for the accumulation for and the payment of general long-term principal and interest.
Debt Service Funds
Asset Management
Purchase Order
Encumbrance Types
28. 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.
Spending Funds
Preliminary Budget
Expenditure
Service and Supplies
29. 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
Funds Available
Preliminary Budget
Fixed Asset
Inventory Items
30. 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
Bond
Fiduciary
Direct Cost or Direct Expense
General Fund
31. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Supplier
Fund
Purchase Order
Inventory Item
32. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Asset Inventory
Enterprise Fund
Change Letter
Purchase Order
33. 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
Force Account
Capital Project
General Fund
Revenue
34. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Asset
Data Warehouse
Unanticipated Revenue
Encumbrance
35. 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
Fund
Chart of Accounts
Estimated Revenue
Line-Item Budget
36. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Expenditures
Data Warehouse
Indirect Project
Supplier
37. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.
Full Tim Equivalency (FTE)
Special Revenu Fund
Indirect Cost of Expense
Fund
38. 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
Expenditure Type
Blanket Purchase Agreement
Indirect Project
General Purpose Revenue
39. A method employed in the constructon and /or maintenance of projects and activities - wherby the County's own personnel are used to perform the services - instead of an outside contractor. This method may also call for the purchase or use of the Coun
General Purpose Revenue
Contract or Contract Purchase Agreement (CPA)
Accrual Basis of Accounting
Force Account
40. A self-balancing set of accounts.
Expenditure Type
Fund
Debt Service Funds
Estimated Revenue
41. 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.
Debt Service Funds
Direct Cost or Direct Expense
Internal Service Fund (ISF)
Line Type
42. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Commitment
Baseline Budget
Indirect Project
Full Tim Equivalency (FTE)
43. 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.
Capital Assets
Force Account
Indirect Cost of Expense
General Fund
44. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.
Proprietary Funds
Internal Service Fund (ISF)
Depreciation
Raw Cost
45. 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
Capital Assets
General Fund
Unanticipated Revenue
Appropriation
46. 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).
Indirect Cost or Indirect Expense
Enterprise Fund
Original Budget
Org.
47. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Revenue
Commitment
Capital Project Fund
General Purpose Revenue
48. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Enterprise Funds
Account
General Purpose Revenue
Overrealized Revenue
49. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Grant
Asset Inventory
Invoice
Encumbrance Types
50. 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.
General Fund
Revenue
Program Budget
Accrual Basis of Accounting
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