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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. Is derived from taxes - licenses - fees - and investment earnings.
Inventory Items
Revenue
Cost Budget
Fund
2. 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.
Fixed Asset
Direct Cost or Direct Expense
Grant
Full Cost
3. 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 -
Encumbrance
Line Type
Program Budget
Chart of Accounts
4. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Trust Fund
Indirect Cost or Indirect Expense
Indirect Cost of Expense
Full Tim Equivalency (FTE)
5. 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
Account
General Fund
Inventory Items
6. 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
Depreciation
Capital Outlay Fund (COA)
Grant
Special Revenu Fund
7. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Pension and other employee benefit Trust Fund
General Purpose Revenue
Current Budget
Special Revenue Fund
8. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Proprietary Funds
Supplier
Capital Outlay Fund (COA)
Baseline Budget
9. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Revenue
Overrealized Revenue
Indirect Project
Invoice
10. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Grant
Depreciation
Invoise Types
Revenue
11. 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
Asset
Proprietary Funds
Internal Agreement
12. A self-balancing set of accounts.
Fund
Line Type
Obligation
Award
13. A fund used to account for assets held by a government in a trustee capacity for individuals - private organizations - other governments and/or other funds.
Trust Fund
Grant
Proprietary Funds
Depreciation
14. The authorized budget for a project or task - which is used for performance reporting and revenue calculation.
Fiduciary Fund
Baseline Budget
Accounting Standards
Chart of Accounts
15. 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.
Capital Improvement
Internal Agreement
Expenditures
Encumbrance
16. An account that contains money set aside for a legaly restricted specifi future use.
Adopted Budget
Reserve
Account
Project
17. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Asset
Bond
Revenue
Account Segment
18. 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.
Line Type
Adopted Budget
General Fund
Preliminary Budget
19. 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
Cost Applied
General Fund
Bond
Accounting Standards
20. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
General Purpose Revenue
Accrual Basis of Accounting
Debt Service
Productive Time
21. 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
Accounting Standards
Enterprise Fund
Inventory Item
22. 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.
Full Tim Equivalency (FTE)
Asset Inventory
Fiduciary
Adopted Budget
23. 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.
Invoice
Grant
Fiduciary Fund
Invoice
24. The most recently baselined budget version of the budget.
Proprietary Funds
Adopted Budget/Operational Plan
Grant
Current Budget
25. 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.
Line Budget Item
Standard Purchase Order
Capital Project
Adopted Budget/Operational Plan
26. 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.
Internal Service Funds
Activity- Based Costing (ABC)
Force Account
Encumbrance
27. 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)
Release
Encumbrance
Capital Improvement
28. 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.
Governmental Funds
Proprietary Funds
Debt Service
Purchase Requsition
29. 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
Spending Funds
Capital Budget
Fund Balance
Fund
30. An accounting device established to control receipts and disbursements set aside to support specific activities.
Bond
Fund
Enterprise Funds
Capital Project
31. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Blanket Purchase Agreement
Obligation
Physical Intentory
Service and Supplies
32. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Invoise Types
Standard Purchase Order
Purchase Order
Capital Project Fund
33. 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.
Estimated Revenue
Purchase Order
Capital Project Fund
Adopted Budget/Operational Plan
34. Annual principal and interest payments that local government owes on borrowed money.
Asset Management
Debt Service
Service and Supplies
Enterprise Funds
35. 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).
Funds Available
Fund
Release
Org.
36. 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
Indirect Cost of Expense
Fund
Invoice
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 Service Funds
Contract or Contract Purchase Agreement (CPA)
Internal Agreement
Adopted Budget
38. An encumbrance category that allows you track you anticipated expenditures according to your purchase approval process. Types:commitments ( requisition encumbrances) and obligation ( PO encumbrances).
Funds
Asset Management
Encumbrance Types
Capital Project
39. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
Fiduciary Fund
Capital Assets
Average Balance
Fiduciary
40. 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.
Asset Inventory
Activity- Based Costing (ABC)
Estimated Revenue
Obligation
41. 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
Indirect Cost of Expense
Internal Service Funds
Raw Cost
Line Budget Item
42. 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.
Capital Budget
Program Budget
Capital Projects Funds
Internal Service Fund (ISF)
43. 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
Indirect Cost of Expense
Contract or Contract Purchase Agreement (CPA)
Service and Supplies
44. 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.
Reserve
Full Tim Equivalency (FTE)
Award
Capital Improvement
45. 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.
Special Revenu Fund
Commitment
Revenue
Proprietary Funds
46. 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
Original Budget
Line-Item Budget
Fund Balance
47. 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.
Standard Purchase Order
Expensed Inventory
Enterprise Funds
Original Budget
48. Accounts for the County's financial resources except those required to be accounted for in another fund.
Grant
Estimated Revenue
Funds Available
General Fund
49. 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.
Genaral Revenue Allocation
Raw Cost
General Purpose Revenue
Productive Time
50. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Expensed Inventory
Funds
Obligation
Fund Balance