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