Test your basic knowledge |

Oracle Vocab

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. 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






2. An accounting device established to control receipts and disbursements set aside to support specific activities.






3. 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.






4. 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.






5. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.






6. 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).






7. The spread of an assets cost over the time period it is used.






8. A standard procurement document issued for delivery of specified goods or services on specified dates at specified locations. A PO is normally a one-time transaction.






9. 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.






10. 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 -






11. 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.






12. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.






13. 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






14. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.






15. 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






16. 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






17. 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






18. Trust Fund and Agency Funds






19. 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.






20. Is derived from taxes - licenses - fees - and investment earnings.






21. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.






22. 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






23. The operational distribution of General Purpose Revenues to various County departments and programs through the Agency/Groups and subject to Board approval.






24. Use of an appropriation to purchse goods and services necessary to carry out the responsibilities of a department or organization. Expenditures are decreases in net financial resources.






25. The difference between budgeted amounts and all actual and anticipated expenditures.






26. 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).






27. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.






28. The estimated cost amounts at completion of a project. Cost budget amounts can be summary or detail - and ca be burdened or unburdened.






29. 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






30. 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






31. 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.






32. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.






33. 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.






34. 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.






35. Enterprise Funds - Internal Service Fund






36. The most recently baselined budget version of the budget.






37. Accounts for the provision of supplies and / or tangible services to public that is similar to services provided by business enterprises.






38. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.






39. 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.






40. An expenditure object within the budget for all standard costs of daily operations - including such terms as office supplies - contractual services - and travel.






41. 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.






42. As a political subdivision of the State of California - the County is governed by a five- member Board of Supervisor - which has legislative and executed authority. Each member of the Board of Supervisors is elected by geographic district.






43. 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.






44. The account structure an enterprise uses to record transactions and maintain account balances.






45. 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






46. A five-year list of planned capital projects - developed by the Department of General Services.






47. 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






48. Accounts for assets held by government in a trustee capacity for public employement retirement systems.






49. Revenues are recorded when measurable and earned ( rather than when cash is received - and expenses are recognized when a good or service is used( rather thane when payment is made).






50. Units of work that can be broken down into one or more task to capture and related revenue.