Test Bank Introduction to Data Analytics for Accounting, 2nd Edition Richardson
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Chap 01 2ell ll
Answers Included ll
1) "Create" is the highest skill in Bloom's Taxonomy.
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⊚ true l l
⊚ false l l
2) "Understand" is the lowest skill in Bloom's Taxonomy.
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⊚ true l l
⊚ false l l
3) "Remember" is a higher skill than "Understand" in Bloom's Taxonomy.
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⊚ true l l
⊚ false l l
4) "Ask the Right Question" is one of the desired skills for accounting professionals, consistent
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with EY's "The Analytics Mindset".
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⊚ true l l
⊚ false l l
5) "Communicate results with management" is one of the desired skills for accounting
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professionals, consistent with EY's "The Analytics Mindset".
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⊚ true l l
⊚ false l l
6) "Extract, Transform and Load Relevant Data" is one of the desired skills for accounting
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professionals, consistent with EY's "The Analytics Mindset".
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⊚ true l l
⊚ false l l
1
,7) Of the options listed below, which is the lowest level of thinking skills in Bloom's
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Taxonomy?
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A) Create
B) Understand
C) Apply
D) Analyze
8) Of the options listed below, which is the highest level of thinking skills in Bloom's
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Taxonomy?
ll
A) Evaluate
B) Apply
C) Analyze
D) Understand
9) Which is the appropriate ordering of thinking skills in Bloom's Taxonomy, where the ">"
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symbol means higher order skills?
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A) Evaluate > Apply ll ll
B) Remember > Understand ll ll
C) Apply > Analyze ll ll
D) Analyze > Evaluate ll ll
10) Which component of the AMPS model would usually involve creating a pivottable?
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A) Ask the Question ll ll
B) Master the Data ll ll
C) Perform the Analysis ll ll
D) Share the Story ll ll
11) Which component of the AMPS model most appropriately addresses the skill mentioned by
ll ll ll ll ll ll ll ll ll ll ll ll
EY's analytics mindset of "extract, transform and load relevant data"?
ll ll ll ll ll ll ll ll ll ll
A) Ask the Question ll ll
B) Master the Data ll ll
C) Perform the Analysis ll ll
D) Share the Story ll ll
2
,12) Use of a dashboard to track relevant outcomes would be consistent with which component of
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
the AMPS model?
ll ll ll
A) Ask the Question ll ll
B) Master the Data ll ll
C) Perform the Analysis ll ll
D) Share the Story ll ll
13) A visualization may be used to help with which component of the AMPS model?
ll ll ll ll ll ll ll ll ll ll ll ll ll
A) Ask the Question ll ll
B) Master the Data ll ll
C) Perform the Analysis ll ll
D) Share the Story ll ll
14) Benford's law might be used as part of which component of the AMPS model?
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A) Ask the Question ll ll
B) Master the Data ll ll
C) Perform the Analysis ll ll
D) Share the Story ll ll
15) What type of question(s) works to explain "Why did overall tax increase even though net
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income did not?"
ll ll ll
A) What happened? What is happening? ll ll ll ll
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is it
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forecastable? ll
D) What should we do based on what we expect will happen? How do we optimize our
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
performance based on potential constraints?
ll ll ll ll ll
16) What type of question is used in finding the level of sales needed to break even?
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A) What happened? What is happening? ll ll ll ll
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is it
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forecastable?
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D) What should we do based on what we expect will happen? How do we optimize our
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
performance based on potential constraints?
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3
, 17) What type of question is used in learning how much the company paid in interest expenses
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last year?
ll ll
A) What happened? What is happening? ll ll ll ll
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is it
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forecastable?
ll
D) What should we do based on what we expect will happen? What should we do based
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
on what we expect will happen? How do we optimize our performance based on
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
potential constraints?
ll ll
18) What type of question is predicting whether borrowers will be able to repay their loans?
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A) What happened? What is happening? ll ll ll ll
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is it
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forecastable?
ll
D) What should we do based on what we expect will happen? How do we optimize our
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
performance based on potential constraints?
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19) What type of question is used in determining how to maximize revenues if there is a trade
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war with China?
ll ll ll
A) What happened? What is happening? ll ll ll ll
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is it
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forecastable?
ll
D) What should we do based on what we expect will happen? How do we optimize our
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
performance based on potential constraints?
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20) The accuracy, validity and consistency of data used and stored over time is called
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A) data veracity. ll
B) data integrity. ll
C) data quality. ll
D) truthful data. ll
4
ll ll ll ll l ll l ll ll ll
Chap 01 2ell ll
Answers Included ll
1) "Create" is the highest skill in Bloom's Taxonomy.
ll ll ll ll ll ll ll
⊚ true l l
⊚ false l l
2) "Understand" is the lowest skill in Bloom's Taxonomy.
ll ll ll ll ll ll ll
⊚ true l l
⊚ false l l
3) "Remember" is a higher skill than "Understand" in Bloom's Taxonomy.
ll ll ll ll ll ll ll ll ll
⊚ true l l
⊚ false l l
4) "Ask the Right Question" is one of the desired skills for accounting professionals, consistent
ll ll ll ll ll ll ll ll ll ll ll ll ll
with EY's "The Analytics Mindset".
ll ll ll ll ll
⊚ true l l
⊚ false l l
5) "Communicate results with management" is one of the desired skills for accounting
ll ll ll ll ll ll ll ll ll ll ll
professionals, consistent with EY's "The Analytics Mindset".
ll ll ll ll ll ll ll
⊚ true l l
⊚ false l l
6) "Extract, Transform and Load Relevant Data" is one of the desired skills for accounting
ll ll ll ll ll ll ll ll ll ll ll ll ll
professionals, consistent with EY's "The Analytics Mindset".
ll ll ll ll ll ll ll
⊚ true l l
⊚ false l l
1
,7) Of the options listed below, which is the lowest level of thinking skills in Bloom's
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
Taxonomy?
ll
A) Create
B) Understand
C) Apply
D) Analyze
8) Of the options listed below, which is the highest level of thinking skills in Bloom's
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
Taxonomy?
ll
A) Evaluate
B) Apply
C) Analyze
D) Understand
9) Which is the appropriate ordering of thinking skills in Bloom's Taxonomy, where the ">"
ll ll ll ll ll ll ll ll ll ll ll ll ll
symbol means higher order skills?
ll ll ll ll ll
A) Evaluate > Apply ll ll
B) Remember > Understand ll ll
C) Apply > Analyze ll ll
D) Analyze > Evaluate ll ll
10) Which component of the AMPS model would usually involve creating a pivottable?
ll ll ll ll ll ll ll ll ll ll ll
A) Ask the Question ll ll
B) Master the Data ll ll
C) Perform the Analysis ll ll
D) Share the Story ll ll
11) Which component of the AMPS model most appropriately addresses the skill mentioned by
ll ll ll ll ll ll ll ll ll ll ll ll
EY's analytics mindset of "extract, transform and load relevant data"?
ll ll ll ll ll ll ll ll ll ll
A) Ask the Question ll ll
B) Master the Data ll ll
C) Perform the Analysis ll ll
D) Share the Story ll ll
2
,12) Use of a dashboard to track relevant outcomes would be consistent with which component of
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
the AMPS model?
ll ll ll
A) Ask the Question ll ll
B) Master the Data ll ll
C) Perform the Analysis ll ll
D) Share the Story ll ll
13) A visualization may be used to help with which component of the AMPS model?
ll ll ll ll ll ll ll ll ll ll ll ll ll
A) Ask the Question ll ll
B) Master the Data ll ll
C) Perform the Analysis ll ll
D) Share the Story ll ll
14) Benford's law might be used as part of which component of the AMPS model?
ll ll ll ll ll ll ll ll ll ll ll ll ll
A) Ask the Question ll ll
B) Master the Data ll ll
C) Perform the Analysis ll ll
D) Share the Story ll ll
15) What type of question(s) works to explain "Why did overall tax increase even though net
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
income did not?"
ll ll ll
A) What happened? What is happening? ll ll ll ll
B) Why did it happen? What are the root causes of past results?
ll ll ll ll ll ll ll ll ll ll ll
C) Will it happen in the future? What is the probability something will happen? Is it
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
forecastable? ll
D) What should we do based on what we expect will happen? How do we optimize our
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
performance based on potential constraints?
ll ll ll ll ll
16) What type of question is used in finding the level of sales needed to break even?
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
A) What happened? What is happening? ll ll ll ll
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is it
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
forecastable?
ll
D) What should we do based on what we expect will happen? How do we optimize our
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
performance based on potential constraints?
ll ll ll ll ll
3
, 17) What type of question is used in learning how much the company paid in interest expenses
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
last year?
ll ll
A) What happened? What is happening? ll ll ll ll
B) Why did it happen? What are the root causes of past results?
ll ll ll ll ll ll ll ll ll ll ll
C) Will it happen in the future? What is the probability something will happen? Is it
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
forecastable?
ll
D) What should we do based on what we expect will happen? What should we do based
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
on what we expect will happen? How do we optimize our performance based on
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
potential constraints?
ll ll
18) What type of question is predicting whether borrowers will be able to repay their loans?
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
A) What happened? What is happening? ll ll ll ll
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is it
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
forecastable?
ll
D) What should we do based on what we expect will happen? How do we optimize our
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
performance based on potential constraints?
ll ll ll ll ll
19) What type of question is used in determining how to maximize revenues if there is a trade
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
war with China?
ll ll ll
A) What happened? What is happening? ll ll ll ll
B) Why did it happen? What are the root causes of past results?
ll ll ll ll ll ll ll ll ll ll ll
C) Will it happen in the future? What is the probability something will happen? Is it
ll ll ll ll ll ll ll ll ll ll ll ll ll ll
forecastable?
ll
D) What should we do based on what we expect will happen? How do we optimize our
ll ll ll ll ll ll ll ll ll ll ll ll ll ll ll
performance based on potential constraints?
ll ll ll ll ll
20) The accuracy, validity and consistency of data used and stored over time is called
ll ll ll ll ll ll ll ll ll ll ll ll ll
A) data veracity. ll
B) data integrity. ll
C) data quality. ll
D) truthful data. ll
4
