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Oracle Vocab
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Subjects
:
oracle
,
it-skills
Instructions:
Answer 50 questions in 15 minutes.
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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 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
Expenditure
Fund
Fiduciary
Enterprise Fund
2. Annual pricipal and interest payments that a local government of fund owes on money that is has borrowed.
Line Budget Item
Proprietary Funds
Fiduciary
Debt Service
3. Additional revenue that was not expected and - therefore -not budgeted - but which may legally be made available for the financing requirements of the County.
Physical Intentory
Invoise Types
Release
Unanticipated Revenue
4. Additional revenue received beyond that which was budgeted and which may be made available for the financing requirements of the County.
Fund
Change Letter
Overrealized Revenue
Capital Assets
5. It is business or individual that provides good and /or services in return for payment. Also known as a Vendor.
Proprietary Funds
Supplier
Productive Time
Capital Project
6. A large database containing data summarized from one or more transactional systems - optimized to support the analysis needs of the enterprise.
Capital Budget
Governmental Funds
Data Warehouse
Spending Funds
7. 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 Agreement
Physical Intentory
Activity- Based Costing (ABC)
Overrealized Revenue
8. The amount of revenue expected to accrue or to be collected during a fiscal year.
Encumbrance
Estimated Revenue
Asset Inventory
Debt Service
9. The most recently baselined budget version of the budget.
Inventory Items
Raw Cost
Debt Service Funds
Current Budget
10. 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.
Spending Funds
Physical Intentory
Project
Current Budget
11. A special fund created to provide centralized budgeting for the accumulation and expenditures of funds for the capital needs of the County.
Capital Outlay Fund (COA)
Expenditure
Force Account
Capital Project
12. Enterprise Funds - Internal Service Fund
Contract or Contract Purchase Agreement (CPA)
Account Segment
Invoise Types
Proprietary Funds
13. A periodic - often annual - reconciliation of all inventory item physical counts with system on-hand quantities.
Physical Intentory
Cost Applied
Line Budget Item
Depreciation
14. 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.
Capital Improvement
Commitment
Governmental Funds
Fund
15. Items that are stocked in intentory. Inventory is controlled by quantity and value. Remains an asset until it is consumed. The cost of an intentory items is recognized as an expense when it is consumed or sold.
Funds Available
Enterprise Fund
Expenditure
Inventory Item
16. The account structure an enterprise uses to record transactions and maintain account balances.
Encumbrance Types
Board of Supervisors
Chart of Accounts
Revenue
17. An account that contains money set aside for a legaly restricted specifi future use.
Internal Service Funds
Commitment
Adopted Budget/Operational Plan
Reserve
18. 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
Full Cost
Contract or Contract Purchase Agreement (CPA)
Expenditure
19. 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
Service and Supplies
Fund Balance
Depreciate
Avoidable Cost
20. 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.
Inventory Item
Expenditure Type
Award
Indirect Cost of Expense
21. Funds ensure that available resources are controlled and spent in accordance with organizational spending - service delivery decision and finance- related legar and contractual provisions.
Original Budget
Award
Internal Service Fund (ISF)
Funds
22. 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.
Encumbrance
Fund
Preliminary Budget
Fund Balance
23. Accounts for assets held by government in a trustee capacity for public employement retirement systems.
Line-Item Budget
Purchase Requsition
Standard Purchase Order
Pension and other employee benefit Trust Fund
24. 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
Purchase Requsition
Invoise Types
Chart of Accounts
Enterprise Fund
25. The types of invoices- Standard - Credit memo - Debit memo - Expense Report - Prepayment - Mixed.
Debt Service Funds
Bond
Fixed Asset
Invoise Types
26. 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.
Reserve
Fund
Depreciation
Internal Service Fund (ISF)
27. A type of purchasing document used to reference POs to a specific contract. It may include terms and conditions - agreed amounts - and an effective and expiration date.
Invoice
Contract or Contract Purchase Agreement (CPA)
Revenue
Estimated Revenue
28. A separate financial reporting unit fo budgeting - management - or accounting purposes. All budgetary transactions are recorded in accounts
Contract or Contract Purchase Agreement (CPA)
Account
Enterprise Fund
Invoise Types
29. Does not include paid or unpaid leave - work performed on behalf of a busness entity which is required for that entity to fullfil its business purpose.
Expenditures
Fund
Productive Time
Enterprise Funds
30. An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
Account
Deficit
Accrual Basis of Accounting
Asset
31. The transfer of costs of services performed by one budget unit for the benefit of another budget unit within the same fund.
Revenue
Expenditure Type
Cost Applied
Internal Service Fund (ISF)
32. Units of work that can be broken down into one or more task to capture and related revenue.
Revenue
Award
Revenue
Project
33. The percentage of full time the employee should normally work in a specifi job. Is defined by the Standard Hours.
Full Tim Equivalency (FTE)
Original Budget
Adopted Budget
Line-Item Budget
34. Is made up of six unique segments: Fund - Org - Account - Project - Funding Source and TBD
Expenditure
Purchase Requsition
Account Segment
Encumbrance
35. 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.
Standard Purchase Order
Blanket Purchase Agreement
Inventory Item
Debt Service
36. 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
Revenue
Capital Project
Line Budget Item
Revenue
37. 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 -
Adopted Budget/Operational Plan
Supplier
Capital Project
Capital Improvement
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
Internal Agreement
Fund
Trust Fund
Special Revenu Fund
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.
Blanket Purchase Agreement
Debt Service
Encumbrance
Enterprise Fund
40. 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 ).
Indirect Project
Board of Supervisors
Proprietary Funds
Avoidable Cost
41. 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
Debt Service Funds
Cash Basis of Accounting
Grant
Inventory Items
42. An Actual order(sub-order) of goods and services issued against a Blanket Purchase Agreement (BPA) for actual delivery with specified quantities - dates and the accounting information.
Grant
Depreciation
Release
Proprietary Funds
43. 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.
Bond
Adopted Budget
Fixed Asset
Org.
44. 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).
Funds
Capital Projects Funds
General Purpose Revenue
Capital Budget
45. An itemized statement of money owed for goods shipped or services rendered
Debt Service Funds
Fund
Release
Invoice
46. 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.
Expenditures
Fund Balance
Account
Baseline Budget
47. 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
Depreciate
Internal Service Fund (ISF)
Expensed Inventory
Current Budget
48. The budget amounts for a project at the first successful Baselining of the project.
Direct Cost or Direct Expense
Original Budget
Full Tim Equivalency (FTE)
Full Cost
49. Accounts for the purchase or construction of major facilities which are not financed by proprietary or trust funds.
Special Revenue Fund
Fund
Enterprise Funds
Capital Project Fund
50. 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
Capital Projects Funds
Inventory Items
Invoise Types
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