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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. 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.
Raw Cost
Line-Item Budget
Capital Project
Award
2. 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.
Physical Intentory
Fixed Asset
Org.
Capital Projects Funds
3. Is derived from taxes - licenses - fees - and investment earnings.
Revenue
Cost Budget
Obligation
Cash Basis of Accounting
4. Financial resources recieved from taxes - fees - and other charges - federal or State government - excluding interfund transfers fund balance - or debt issuance proceeds.
Fund Balance
Fiduciary
Fund
Revenue
5. Funds estalished to account for the accumulaton of resources for - and for the payment of - principal and interest on general long-term debt.
Expenditure Type
Avoidable Cost
Capital Project
Debt Service Funds
6. Locally generated revenues derived from property taxes - sales taxes - vehicle license fees - court fines and fund balances. Affected by local economic conditions.
Line Type
General Purpose Revenue
Capital Project
Raw Cost
7. Accounts for the accumulation for and the payment of general long-term principal and interest.
Debt Service Funds
Grant
Cost Applied
Preliminary Budget
8. 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.
Invoise Types
Direct Cost or Direct Expense
Force Account
Activity- Based Costing (ABC)
9. 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.
Activity- Based Costing (ABC)
Invoise Types
General Fund
Fund
10. 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
Indirect Cost or Indirect Expense
Indirect Cost of Expense
Appropriation
Revenue
11. Annual principal and interest payments that local government owes on borrowed money.
Commitment
Trust Fund
Raw Cost
Debt Service
12. Accounts for the proceeds of specific revenue sources ( except pension trust and major capital projects) that are legally restricted to expenditures for specific purposes.
Direct Expense
Force Account
Special Revenue Fund
Proprietary Funds
13. The amount of revenue expected to accrue or to be collected during a fiscal year.
Raw Cost
Standard Purchase Order
Estimated Revenue
Grant
14. 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.
Fiduciary Fund
Asset Management
Genaral Revenue Allocation
Invoise Types
15. A self-balancing set of accounts.
Depreciation
Enterprise Funds
Productive Time
Fund
16. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Capital Budget
Invoice
Overrealized Revenue
Direct Cost or Direct Expense
17. 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
Line-Item Budget
Capital Projects Funds
Fund
Purchase Order
18. 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
Line-Item Budget
Cost Applied
Direct Expense
Fund Balance
19. 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.
Chart of Accounts
Invoice
Encumbrance
Baseline Budget
20. 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.
Blanket Purchase Agreement
Debt Service
Grant
Expenditures
21. The electronic process of mainaining an itemized list of current inventory.
Direct Expense
Special Revenue Fund
Asset Management
Program Budget
22. 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.
Depreciate
Spending Funds
Accounting Standards
Capital Improvement
23. 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.
General Fund
Baseline
Internal Service Fund (ISF)
Fiduciary
24. 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.
Deficit
Debt Service
Cash Basis of Accounting
Expensed Inventory
25. Expiration in the service life of capital assets - other than wasting assets - attributable to wear and tear - deterioration - action of the physical elements - idadequacy - and obsolescence.
Depreciation
Service and Supplies
Force Account
Accrual Basis of Accounting
26. The spread of an assets cost over the time period it is used.
Debt Service Funds
Invoice
Depreciate
Encumbrance
27. 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.
Capital Project Fund
Average Balance
Invoice
Preliminary Budget
28. A five-year list of planned capital projects - developed by the Department of General Services.
Grant
Capital Improvement Plan (CIP)
General Purpose Revenue
Org.
29. 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.
Revenue
General Fund
Trust Fund
Funds Available
30. Determines whether a purchasing document line is for goods - services - freight - Amend A&C - etc.
Program Budget
Asset
Line Type
Estimated Revenue
31. 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
Change Letter
Activity- Based Costing (ABC)
Appropriation
Fund Balance
32. 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.
Depreciate
Cost Applied
Invoice
Internal Agreement
33. 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).
Deficit
Asset Management
Expenditure Type
Commitment
34. The amount computed by dividing an aggregate balance by the number of calendar days in the related range.
General Purpose Revenue
Line Type
Debt Service
Average Balance
35. 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.
Purchase Order
Capital Project Fund
Fund
Expensed Inventory
36. 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
Expenditure
Asset Inventory
Capital Improvement
Fiduciary Fund
37. 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).
Revenue
Internal Service Fund (ISF)
General Purpose Revenue
Trust Fund
38. 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
Fund
Adopted Budget/Operational Plan
Cost Applied
Fund Balance
39. A separate fund established to account for services that are supported primarly by service charges. They are similar to private business enterprise - where the costs of providing goods or services to the general public or to customer departments on a
Baseline
Enterprise Fund
Encumbrance
Data Warehouse
40. 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
Line Budget Item
Chart of Accounts
Account Segment
Cost Budget
41. The budget amounts for a project at the first successful Baselining of the project.
Capital Project Fund
Line-Item Budget
Original Budget
Change Letter
42. The compilation of proposed amendments to the CAO Proposed Operational Plan. Change Letters must be filed by the close of Public Hearing.
Depreciate
General Purpose Revenue
Change Letter
Accrual Basis of Accounting
43. 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
Chart of Accounts
Expenditure
Fund
44. A document received from a supplier that lists amounts owed to the supplier for purchased good or services.
Capital Improvement Plan (CIP)
Bond
Invoice
Debt Service
45. An accounting device established to control receipts and disbursements set aside to support specific activities.
Fund
Funds Available
Estimated Revenue
Accrual Basis of Accounting
46. 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
Pension and other employee benefit Trust Fund
Enterprise Fund
Encumbrance
Expensed Inventory
47. 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
Inventory Items
Invoice
General Fund
Expenditures
48. 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.
Enterprise Fund
Inventory Item
Board of Supervisors
Reserve
49. Accounts for the financingof goods and services provided by one department or agency to other departments or agency on a cost-reimbursement basis.
Standard Purchase Order
Internal Service Funds
Indirect Cost or Indirect Expense
Cost Applied
50. Accounts for the County's financial resources except those required to be accounted for in another fund.
Chart of Accounts
Activity- Based Costing (ABC)
Change Letter
General Fund