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