ACCT 6220: Accounting Data Analytics exam 2023 with 100% correct answers Data Analytics Ch. 1: Data Analytics in Accounting and Business exam with 100% correct answers
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Analytics correct answersExtensive use of data and advanced quantitative analysis to drive fact-based decision-making and actions Big data correct answersA collection of data sets that are so large or complex that it is impossible to analyze them with traditional databases and tools 3 characte...
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Add to cartAnalytics correct answersExtensive use of data and advanced quantitative analysis to drive fact-based decision-making and actions Big data correct answersA collection of data sets that are so large or complex that it is impossible to analyze them with traditional databases and tools 3 characte...
On a CVP graph, ______. a. tr = tc at breakeven b. as volume increases, fixed costs increase c. volume is plotted on the vertical axis d. profit = tr-tc correct answers- tr = tc at breakeven - profit = tr-tc When compared to the Cost-Volume-Profit graph, the ____________ _______ __...
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Add to cartOn a CVP graph, ______. a. tr = tc at breakeven b. as volume increases, fixed costs increase c. volume is plotted on the vertical axis d. profit = tr-tc correct answers- tr = tc at breakeven - profit = tr-tc When compared to the Cost-Volume-Profit graph, the ____________ _______ __...
IMPACT cycle (data analytics process) correct answers1. identify the Qs* 2. Master the data 3. perform test plan 4. address and refine results 5. communicate insights 6. track outcomes data analytics correct answersthe process of evaluating data with the purpose of drawing conclusions to add...
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Add to cartIMPACT cycle (data analytics process) correct answers1. identify the Qs* 2. Master the data 3. perform test plan 4. address and refine results 5. communicate insights 6. track outcomes data analytics correct answersthe process of evaluating data with the purpose of drawing conclusions to add...
What are the six components of the IMPACT cycle? correct answers1) Identify the questions 2) Master the data 3) Perform test plan 4) Address and refine results 5) Communicate insights 6) Track outcomes Definition of Data Analytics correct answersData Analytics is the process of evaluating da...
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Add to cartWhat are the six components of the IMPACT cycle? correct answers1) Identify the questions 2) Master the data 3) Perform test plan 4) Address and refine results 5) Communicate insights 6) Track outcomes Definition of Data Analytics correct answersData Analytics is the process of evaluating da...
Accounting Information System correct answersa system consisting of interrelated manual and computer parts that uses processes such as collecting, recording, summarizing, analyzing (using decision models), and managing data to provide output information to users. Activity-Based Management correct...
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Add to cartAccounting Information System correct answersa system consisting of interrelated manual and computer parts that uses processes such as collecting, recording, summarizing, analyzing (using decision models), and managing data to provide output information to users. Activity-Based Management correct...
the most clear and unbiased basis for cost allocation exists when which one of the following can be determined? correct answerscost and effect relationship Cost allocation is an important strategic issue for U.S. manufacturing firms with foreign subsidiaries because of: correct answersthe tax imp...
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Add to cartthe most clear and unbiased basis for cost allocation exists when which one of the following can be determined? correct answerscost and effect relationship Cost allocation is an important strategic issue for U.S. manufacturing firms with foreign subsidiaries because of: correct answersthe tax imp...
Functions of managerial accounting correct answers- Determining the cost - Providing relevant information for better decision making - Providing information for planning, control, decision making and application Deals with the estimation of product costs, setting up of costing system to re...
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Add to cartFunctions of managerial accounting correct answers- Determining the cost - Providing relevant information for better decision making - Providing information for planning, control, decision making and application Deals with the estimation of product costs, setting up of costing system to re...
Data Analytcics correct answersthe process of evaluating data with the purpose of drawing conclusions to address business questions; provides a way to search through large structured and unstructured data to identify unknown patterns or relationships Big Data correct answersdatasets that are too ...
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Add to cartData Analytcics correct answersthe process of evaluating data with the purpose of drawing conclusions to address business questions; provides a way to search through large structured and unstructured data to identify unknown patterns or relationships Big Data correct answersdatasets that are too ...
Should we use company specific or macro-economic data to address the accounting question? correct answersMaster the Data What are the appropriate cost drivers for activity based costing purposes? correct answersID the Question Should we consider using regression analysis or clustering analysis...
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Add to cartShould we use company specific or macro-economic data to address the accounting question? correct answersMaster the Data What are the appropriate cost drivers for activity based costing purposes? correct answersID the Question Should we consider using regression analysis or clustering analysis...
risk transfer correct answersA risk response that involves shifting a risk to a third party. In other words, a third party assumes the liabilities for the risk. Most often, this is done through a contract, such as an insurance policy. Transaction-based AIS correct answersA traditional information...
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Add to cartrisk transfer correct answersA risk response that involves shifting a risk to a third party. In other words, a third party assumes the liabilities for the risk. Most often, this is done through a contract, such as an insurance policy. Transaction-based AIS correct answersA traditional information...
Data differs from information because correct answersData are raw figures and facts whereas information is the knowledge we gain from the data Self-service business intelligence software correct answersProvides easy-to-use extended data processing capabilities for preparing data, and reporting da...
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Add to cartData differs from information because correct answersData are raw figures and facts whereas information is the knowledge we gain from the data Self-service business intelligence software correct answersProvides easy-to-use extended data processing capabilities for preparing data, and reporting da...
Which of the following is a computer-assisted audit technique that permits an auditor to insert the auditor's version of a client's program to process data and compare the output with the client's output? A. Test data module. B. Frame relay protocol. C. Remote node router. D. Parallel sim...
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Add to cartWhich of the following is a computer-assisted audit technique that permits an auditor to insert the auditor's version of a client's program to process data and compare the output with the client's output? A. Test data module. B. Frame relay protocol. C. Remote node router. D. Parallel sim...
What are the three V's of big data? correct answersVolume, Variety, Velocity The process of evaluating data with the purpose of drawing conclusions to address business questions is defined as: - Data Processing - Data Analytics - Big Data - Accounting correct answersData Analytics Asking ...
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Add to cartWhat are the three V's of big data? correct answersVolume, Variety, Velocity The process of evaluating data with the purpose of drawing conclusions to address business questions is defined as: - Data Processing - Data Analytics - Big Data - Accounting correct answersData Analytics Asking ...
the power of real insight comes when______ from diverse sources can be _____. correct answersMultiple data, Integrated together Business Analytics (BA) is correct answersfocused on process of discovery of actionable knowledge and the creation of new businesses from that knowledge Data Normaliz...
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Add to cartthe power of real insight comes when______ from diverse sources can be _____. correct answersMultiple data, Integrated together Business Analytics (BA) is correct answersfocused on process of discovery of actionable knowledge and the creation of new businesses from that knowledge Data Normaliz...
T/F: Batch processing creates a homogeneous product through a continuous series of standard procedures. correct answersFalse T/F: A company's value stream includes all steps in a process, both essential and non-essential, for which the customer is willing to pay. correct answersFalse T/F: Mov...
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Add to cartT/F: Batch processing creates a homogeneous product through a continuous series of standard procedures. correct answersFalse T/F: A company's value stream includes all steps in a process, both essential and non-essential, for which the customer is willing to pay. correct answersFalse T/F: Mov...
Revenue is defined as correct answersinflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivery or producing goods, rendering services, or other activities that constitute the entity's major or central operations. Five-Step app...
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Add to cartRevenue is defined as correct answersinflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivery or producing goods, rendering services, or other activities that constitute the entity's major or central operations. Five-Step app...
Which of the following is NOT typically a step in the financial accounting cycle? a) Preparing an unadjusted trial balance b) Preparing financial statements c) Preparing management reports d) Preparing audit trail postings correct answersD) prep audit trail postings features of small bu...
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Add to cartWhich of the following is NOT typically a step in the financial accounting cycle? a) Preparing an unadjusted trial balance b) Preparing financial statements c) Preparing management reports d) Preparing audit trail postings correct answersD) prep audit trail postings features of small bu...
In at least one complete sentence, define Big Data. correct answersLarge, complex, "raw" data sets Too large or complex for the existing system to handle Which of the following is the best definition of the term big data? correct answersDatasets that are too large and complex for businesses' ...
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Add to cartIn at least one complete sentence, define Big Data. correct answersLarge, complex, "raw" data sets Too large or complex for the existing system to handle Which of the following is the best definition of the term big data? correct answersDatasets that are too large and complex for businesses' ...
planning correct answerslooking forward directing correct answersputting plan into action (day to day) controlling correct answersmaking adjustments managerial accounting correct answers-internal users (managers or employees) -flexible reports -no regulatory agency -no individual audit...
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Add to cartplanning correct answerslooking forward directing correct answersputting plan into action (day to day) controlling correct answersmaking adjustments managerial accounting correct answers-internal users (managers or employees) -flexible reports -no regulatory agency -no individual audit...
Big Data correct answersCatch-all term for vast quantities of structured, semi-structured or unstructured data that are often available in real or near real time Big Data Characteristics correct answersVolume Velocity Variety Veracity Big Data: Volume correct answersRepresents quantity and ...
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Add to cartBig Data correct answersCatch-all term for vast quantities of structured, semi-structured or unstructured data that are often available in real or near real time Big Data Characteristics correct answersVolume Velocity Variety Veracity Big Data: Volume correct answersRepresents quantity and ...
Learning Objectives correct answers1. Understand how automation has created a data rich environment 2. understand different approaches to organizing enterprise data and common data models 3. Describe the appropriate tasks and approaches to automating procedures 4. Evaluate continuous monitoring t...
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Add to cartLearning Objectives correct answers1. Understand how automation has created a data rich environment 2. understand different approaches to organizing enterprise data and common data models 3. Describe the appropriate tasks and approaches to automating procedures 4. Evaluate continuous monitoring t...
1. What are the three steps to obtaining good data correct answersStep 1 is capturing data, Step 2 is analyzing data, and Step 3 is using data all enabling you to make optimal business decisions. 2. What does good data enable a business to do? correct answersAnalyze the state of company, increase...
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Add to cart1. What are the three steps to obtaining good data correct answersStep 1 is capturing data, Step 2 is analyzing data, and Step 3 is using data all enabling you to make optimal business decisions. 2. What does good data enable a business to do? correct answersAnalyze the state of company, increase...
What are the purpose of accounting codes, how are they used, and provide an example from a manufacturing, accounting, and merchandising firm? correct answersAccounting codes allow companies to organize debits and credits across multiple departments, segments, products, and materials. They are used i...
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Add to cartWhat are the purpose of accounting codes, how are they used, and provide an example from a manufacturing, accounting, and merchandising firm? correct answersAccounting codes allow companies to organize debits and credits across multiple departments, segments, products, and materials. They are used i...
What is Big Data? correct answersBig Data refers to datasets which are too large, too complex, or new (unexplored) to be analyzed traditionally. Traditional technologies can't handle the volume and complexity of the data sets. *Results in: enhanced decision-making, insight discovery and proce...
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Add to cartWhat is Big Data? correct answersBig Data refers to datasets which are too large, too complex, or new (unexplored) to be analyzed traditionally. Traditional technologies can't handle the volume and complexity of the data sets. *Results in: enhanced decision-making, insight discovery and proce...
information overload correct answersaccess or exposure to too much info to be able to process bloom's taxonomy correct answers-provides a hierarchical view of critical thinking skills. -six levels of thinking in order from lowest to highest: 1) remember 2) understand 3) apply 4) analyze ...
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Add to cartinformation overload correct answersaccess or exposure to too much info to be able to process bloom's taxonomy correct answers-provides a hierarchical view of critical thinking skills. -six levels of thinking in order from lowest to highest: 1) remember 2) understand 3) apply 4) analyze ...
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