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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. An excess of liabilites over assets - of losses over profits - or of expenditures over revenue.






2. Are established by the Board of Supervisors and include Airports - Wastewater Management and Transit Enterprise Funds - County Sanitation Districts and various Internal Service Funds ( General Services Fleet Maintenance - Facilities Management and Do






3. Accounts for the County's financial resources except those required to be accounted for in another fund.






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






5. 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.






6. 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






7. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.






8. 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).






9. 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.






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. 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.






12. 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






13. A fund used to account for the proceeds of specific revenue sources that are legally restricted to expendiutres for a specified purpose.






14. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in 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.






16. Fund is an independent fiscla and accounting entity.






17. 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.






18. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.






19. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.






20. 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.






21. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.






22. A method of accounting in which revenues are recorded only when cash is received and expenditures are recorded only when payment is made.






23. 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.






24. 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.






25. 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.






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






27. 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






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






29. 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.






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






31. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.






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






33. 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.






34. 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.






35. 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.






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






37. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.






38. 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.






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






40. Enterprise Funds - Internal Service Fund






41. 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).






42. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.






43. 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.






44. 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.






45. 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.






46. An account that contains money set aside for a legaly restricted specifi future use.






47. Costs that are directly attributalbe to work performed -also referred to as Direct Costs.






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).






49. 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






50. Annual principal and interest payments that local government owes on borrowed money.