,ACCESS Test Bank for Introduction to Data Analytics for Accounting 2nd Edition
wq wq wq wq wq wq wq wq wq wq wq wq
Richardson
Multiple Choice Questions
wq wq
1. (LO 1-2) Which is the lowest level of critical thinking skills in Bloom’s Taxonomy?
wq wq wq wq wq wq wq wq wq wq wq wq wq
a. Create
b. Remember
c. Apply
d. Analyze
2. (LO 1-2) Which is the highest level of critical thinking skills in Bloom’s Taxonomy?
wq wq wq wq wq wq wq wq wq wq wq wq wq
a. Create
b. Apply
c. Analyze
d. Understand
3. (LO 1- wq
2) Which is the appropriate ordering of critical thinking skills in Bloom’s Taxon
wq wq wq wq wq wq wq wq wq wq wq wq
omy, where the “>” symbol means higher order skills?
wq wq wq wq wq wq wq wq
a. Remember > Apply wq wq
b. Apply > Analyze wq wq
c. Analyze > Evaluate wq wq
d. Create > Analyze wq wq
4. (LO 1-3) Which step of the AMPS model most appropriately addresses the axiom,
wq wq wq wq wq wq wq wq wq wq wq wq
“Your data won’t speak unless you ask it the right data analytics questions”?
wq wq wq wq wq wq wq wq wq wq wq wq
a. Ask the Question wq wq
b. Master the Data wq wq
c. Perform the Analysis wq wq
d. Share the Story wq wq
5. (LO 1- wq
3) Which step of the AMPS model most appropriately addresses the question of the
wq wq wq wq wq wq wq wq wq wq wq wq wq wq
best way to communicate data analytics findings with a decision maker?
wq wq wq wq wq wq wq wq wq wq
a. Ask the Question wq wq
b. Master the Data wq wq
c. Perform the Analysis wq wq
d. Share the Story wq wq
6. (LO 1- wq
3) What type of question is predicting whether a company will go bankrupt in the co
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
ming two years? wq wq
a. What happened? What is happening? wq wq wq wq
b. Why did it happen? What are the root causes of past results?wq wq wq wq wq wq wq wq wq wq wq
c. Will it happen in the future? What is the probability something will
wq wq wq wq wq wq wq wq wq wq wq wq
happen? Is it forecastable? wq wq wq
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LL
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
C.
1-1
mynursytest.store
,ACCESS Test Bank for Introduction to Data Analytics for Accounting 2nd Edition
wq wq wq wq wq wq wq wq wq wq wq wq
Richardson
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 2nd Edition – Chapter 1
wq wq wq wq wq wq wq wq wq wq w q wq wq wq
d. What should we do based on what we expect will happen? How do we wq wq wq wq wq wq wq wq wq wq wq wq wq
optimize our performance based on potential constraints?” wq wq wq wq wq wq
7. (LO 1- wq
3) What type of question is choosing to take certain tax deductions based on the wa
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
y managers believe tax legislation will change in the near future?
wq wq wq wq wq wq wq wq wq wq
a. What happened? What is happening? wq wq wq wq
b. Why did it happen? What are the root causes of past results? wq wq wq wq wq wq wq wq wq wq wq
c. Will it happen in the future? What is the probability something will happen? I
wq wq wq wq wq wq wq wq wq wq wq wq wq
s it forecastable? wq wq
d. What should we do based on what we expect will happen? How do we wq wq wq wq wq wq wq wq wq wq wq wq wq
optimize our performance based on potential constraints?” wq wq wq wq wq wq
8. (LO 1- wq
3) What type of question is finding the detail to more clearly understand why net inc
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
ome is decreasing when revenues are increasing?
wq wq wq wq wq wq
a. What happened? What is happening? wq wq wq wq
b. Why did it happen? What are the root causes of past results? wq wq wq wq wq wq wq wq wq wq wq
c. Will it happen in the future? What is the probability something will happen? I
wq wq wq wq wq wq wq wq wq wq wq wq wq
s it forecastable? wq wq
d. What should we do based on what we expect will happen? How do we wq wq wq wq wq wq wq wq wq wq wq wq wq
optimize our performance based on potential constraints?” wq wq wq wq wq wq
9. (LO 1- wq
4) What visualization type is most appropriate for evaluating the relationships betwe
wq wq wq wq wq wq wq wq wq wq wq
en values? wq
a. Bar chart wq
b. Pie chart wq
c. Histogram
d. Scatterplot
10. (LO 1-5) Which of the following software tools specialize in data visualizations?
wq wq wq wq wq wq wq wq wq wq wq
a. SPSS and Power Query wq wq wq
b. Alteryx and Tableau Prep wq wq wq
c. Power BI and Tableau wq wq wq
d. R and Python wq wq
Discussion Questions wq
1. (LO 1- wq
1) The computer is better at automated, repetitive tasks since it can be pro
wq wq wq wq wq wq wq wq wq wq wq wq wq
grammed. The computer is also not subject to fatigue and can process ma w q wq wq wq wq wq wq wq wq wq wq wq
ssive amounts of data easier than a human can. Most of the value-
wq wq wq wq wq wq wq wq w q wq wq wq
added tasks and higher order thinking skills, such as analyzing, evaluating a
wq wq wq wq wq wq wq wq wq wq wq
nd creating, are performed better by human accountants because they are
wq wq wq wq wq wq wq wq wq wq wq
not easily programmed by a set of fixed rules. The ability
wq wq wq wq wq wq wq wq w q wq
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LL
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
C.
1-2
mynursytest.store
, ACCESS Test Bank for Introduction to Data Analytics for Accounting 2nd Edition
wq wq wq wq wq wq wq wq wq wq wq wq
Richardson
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 2nd Edition – Chapter 1
wq wq wq wq wq wq wq wq wq wq w q wq wq wq
to recognize tradeoffs, evaluating alternatives, and evaluating ad hoc facts are
wq wq wq wq wq wq wq wq wq wq
all better performed by humans.
wq wq wq wq wq
2. (LO 1- wq
2) The skills taught in the introduction to financial accounting were the lo
wq wq wq wq wq wq wq wq wq wq wq wq
wer order thinking skills (noted in Bloom’s Taxonomy) such as rememberi
wq wq wq wq wq wq wq wq wq wq
ng, understanding and applying. Application of journal entries, computing
wq wq wq w q wq wq wq wq wq
trial balances, recording transactions, bank reconciliation, etc. are all exa
wq wq wq wq wq wq wq wq wq
mples of lower order skills. wq wq wq wq
3. (LO 1- wq
3) Accountants understand the tradeoffs between relevant data and reliabl
wq wq wq wq wq wq wq wq wq
e data (such as that data which might exhibit more representational faithfu
wq wq wq wq wq wq wq wq wq wq wq
lness).
Accountants also understand the tradeoffs between unstructured and struct wq wq wq wq wq wq wq wq
ured data, data internal or external to the company, and even the potential co
wq wq wq wq wq wq wq wq wq wq wq wq wq
st of acquiring and processing the data as compared to the potential value pr
wq wq wq wq wq wq wq wq wq wq wq wq wq
ovided by use of the data. wq wq wq wq wq
4. (LO 1- wq
3) Mastering the data includes accessing, cleaning, and transforming the da
wq wq wq wq wq wq wq wq wq wq
ta to prepare the data for analysis.
wq wq wq wq wq wq
5. (LO 1- wq
3) Data analytics might be viewed as successively peeling the layer of an onio
wq wq wq wq wq wq wq wq wq wq wq wq wq
n. By peeling the first layer of the onion, you now are able to see the next lay
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
er and evaluate it and remove it to get to the third layer, etc. Often times, t
wq wq wq wq wq wq wq wq wq wq wq wq wq w q wq wq
he AMPS model must be performed multiple times, refining the question (As
wq wq wq wq wq wq wq wq wq wq wq
k the Question), possibly considering different types of data (Master the Dat
wq wq wq wq wq wq wq wq wq wq wq
a), performing additional analysis (Perform the Analysis) and retelling the sto
wq wq wq wq wq wq wq wq wq wq
ry in each iteration (Sharing the Story) before the issue/problem/challenge c
wq wq wq wq wq wq wq wq wq wq
an be finally addressed with some confidence.
wq wq wq wq wq wq
6. (LO 1- wq
3) Descriptive analysis reports what happened. Generally, evaluating the re
wq wq wq wq wq w q wq wq wq
venues and earnings performance starts with descriptive analysis and contin
wq wq wq wq wq wq wq wq wq
ues with diagnostic analysis to understand “Why it happened?”.
wq wq wq wq wq wq wq wq
7. (LO 1-4, LO 1- wq wq wq
5) Data acquisition and preparation software tools like SQL and Alteryx wor
wq wq wq wq wq wq wq wq wq wq wq
k to get the data ready for analysis. Data visualization software tools work
wq wq wq wq wq wq wq w q wq wq wq wq wq
to both analyze data (as part of "Perform the Analysis" in the AMPS model)
wq wq wq wq wq wq wq wq wq wq wq wq wq wq
and to communicate results (as part of "Share the Story" in the AMPS mod
wq wq wq wq wq wq wq wq wq wq wq wq wq
el).
Brief Exercises
wq
1. (LO1-1, LO1-2): Match the data analytics term to its data analytics definition:
wq wq wq wq wq wq wq wq wq wq wq
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LL
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
C.
1-3
mynursytest.store
wq wq wq wq wq wq wq wq wq wq wq wq
Richardson
Multiple Choice Questions
wq wq
1. (LO 1-2) Which is the lowest level of critical thinking skills in Bloom’s Taxonomy?
wq wq wq wq wq wq wq wq wq wq wq wq wq
a. Create
b. Remember
c. Apply
d. Analyze
2. (LO 1-2) Which is the highest level of critical thinking skills in Bloom’s Taxonomy?
wq wq wq wq wq wq wq wq wq wq wq wq wq
a. Create
b. Apply
c. Analyze
d. Understand
3. (LO 1- wq
2) Which is the appropriate ordering of critical thinking skills in Bloom’s Taxon
wq wq wq wq wq wq wq wq wq wq wq wq
omy, where the “>” symbol means higher order skills?
wq wq wq wq wq wq wq wq
a. Remember > Apply wq wq
b. Apply > Analyze wq wq
c. Analyze > Evaluate wq wq
d. Create > Analyze wq wq
4. (LO 1-3) Which step of the AMPS model most appropriately addresses the axiom,
wq wq wq wq wq wq wq wq wq wq wq wq
“Your data won’t speak unless you ask it the right data analytics questions”?
wq wq wq wq wq wq wq wq wq wq wq wq
a. Ask the Question wq wq
b. Master the Data wq wq
c. Perform the Analysis wq wq
d. Share the Story wq wq
5. (LO 1- wq
3) Which step of the AMPS model most appropriately addresses the question of the
wq wq wq wq wq wq wq wq wq wq wq wq wq wq
best way to communicate data analytics findings with a decision maker?
wq wq wq wq wq wq wq wq wq wq
a. Ask the Question wq wq
b. Master the Data wq wq
c. Perform the Analysis wq wq
d. Share the Story wq wq
6. (LO 1- wq
3) What type of question is predicting whether a company will go bankrupt in the co
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
ming two years? wq wq
a. What happened? What is happening? wq wq wq wq
b. Why did it happen? What are the root causes of past results?wq wq wq wq wq wq wq wq wq wq wq
c. Will it happen in the future? What is the probability something will
wq wq wq wq wq wq wq wq wq wq wq wq
happen? Is it forecastable? wq wq wq
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LL
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
C.
1-1
mynursytest.store
,ACCESS Test Bank for Introduction to Data Analytics for Accounting 2nd Edition
wq wq wq wq wq wq wq wq wq wq wq wq
Richardson
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 2nd Edition – Chapter 1
wq wq wq wq wq wq wq wq wq wq w q wq wq wq
d. What should we do based on what we expect will happen? How do we wq wq wq wq wq wq wq wq wq wq wq wq wq
optimize our performance based on potential constraints?” wq wq wq wq wq wq
7. (LO 1- wq
3) What type of question is choosing to take certain tax deductions based on the wa
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
y managers believe tax legislation will change in the near future?
wq wq wq wq wq wq wq wq wq wq
a. What happened? What is happening? wq wq wq wq
b. Why did it happen? What are the root causes of past results? wq wq wq wq wq wq wq wq wq wq wq
c. Will it happen in the future? What is the probability something will happen? I
wq wq wq wq wq wq wq wq wq wq wq wq wq
s it forecastable? wq wq
d. What should we do based on what we expect will happen? How do we wq wq wq wq wq wq wq wq wq wq wq wq wq
optimize our performance based on potential constraints?” wq wq wq wq wq wq
8. (LO 1- wq
3) What type of question is finding the detail to more clearly understand why net inc
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
ome is decreasing when revenues are increasing?
wq wq wq wq wq wq
a. What happened? What is happening? wq wq wq wq
b. Why did it happen? What are the root causes of past results? wq wq wq wq wq wq wq wq wq wq wq
c. Will it happen in the future? What is the probability something will happen? I
wq wq wq wq wq wq wq wq wq wq wq wq wq
s it forecastable? wq wq
d. What should we do based on what we expect will happen? How do we wq wq wq wq wq wq wq wq wq wq wq wq wq
optimize our performance based on potential constraints?” wq wq wq wq wq wq
9. (LO 1- wq
4) What visualization type is most appropriate for evaluating the relationships betwe
wq wq wq wq wq wq wq wq wq wq wq
en values? wq
a. Bar chart wq
b. Pie chart wq
c. Histogram
d. Scatterplot
10. (LO 1-5) Which of the following software tools specialize in data visualizations?
wq wq wq wq wq wq wq wq wq wq wq
a. SPSS and Power Query wq wq wq
b. Alteryx and Tableau Prep wq wq wq
c. Power BI and Tableau wq wq wq
d. R and Python wq wq
Discussion Questions wq
1. (LO 1- wq
1) The computer is better at automated, repetitive tasks since it can be pro
wq wq wq wq wq wq wq wq wq wq wq wq wq
grammed. The computer is also not subject to fatigue and can process ma w q wq wq wq wq wq wq wq wq wq wq wq
ssive amounts of data easier than a human can. Most of the value-
wq wq wq wq wq wq wq wq w q wq wq wq
added tasks and higher order thinking skills, such as analyzing, evaluating a
wq wq wq wq wq wq wq wq wq wq wq
nd creating, are performed better by human accountants because they are
wq wq wq wq wq wq wq wq wq wq wq
not easily programmed by a set of fixed rules. The ability
wq wq wq wq wq wq wq wq w q wq
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LL
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
C.
1-2
mynursytest.store
, ACCESS Test Bank for Introduction to Data Analytics for Accounting 2nd Edition
wq wq wq wq wq wq wq wq wq wq wq wq
Richardson
Richardson, Terrell, Teeter – Introduction to Data Analytics for Accounting, 2nd Edition – Chapter 1
wq wq wq wq wq wq wq wq wq wq w q wq wq wq
to recognize tradeoffs, evaluating alternatives, and evaluating ad hoc facts are
wq wq wq wq wq wq wq wq wq wq
all better performed by humans.
wq wq wq wq wq
2. (LO 1- wq
2) The skills taught in the introduction to financial accounting were the lo
wq wq wq wq wq wq wq wq wq wq wq wq
wer order thinking skills (noted in Bloom’s Taxonomy) such as rememberi
wq wq wq wq wq wq wq wq wq wq
ng, understanding and applying. Application of journal entries, computing
wq wq wq w q wq wq wq wq wq
trial balances, recording transactions, bank reconciliation, etc. are all exa
wq wq wq wq wq wq wq wq wq
mples of lower order skills. wq wq wq wq
3. (LO 1- wq
3) Accountants understand the tradeoffs between relevant data and reliabl
wq wq wq wq wq wq wq wq wq
e data (such as that data which might exhibit more representational faithfu
wq wq wq wq wq wq wq wq wq wq wq
lness).
Accountants also understand the tradeoffs between unstructured and struct wq wq wq wq wq wq wq wq
ured data, data internal or external to the company, and even the potential co
wq wq wq wq wq wq wq wq wq wq wq wq wq
st of acquiring and processing the data as compared to the potential value pr
wq wq wq wq wq wq wq wq wq wq wq wq wq
ovided by use of the data. wq wq wq wq wq
4. (LO 1- wq
3) Mastering the data includes accessing, cleaning, and transforming the da
wq wq wq wq wq wq wq wq wq wq
ta to prepare the data for analysis.
wq wq wq wq wq wq
5. (LO 1- wq
3) Data analytics might be viewed as successively peeling the layer of an onio
wq wq wq wq wq wq wq wq wq wq wq wq wq
n. By peeling the first layer of the onion, you now are able to see the next lay
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
er and evaluate it and remove it to get to the third layer, etc. Often times, t
wq wq wq wq wq wq wq wq wq wq wq wq wq w q wq wq
he AMPS model must be performed multiple times, refining the question (As
wq wq wq wq wq wq wq wq wq wq wq
k the Question), possibly considering different types of data (Master the Dat
wq wq wq wq wq wq wq wq wq wq wq
a), performing additional analysis (Perform the Analysis) and retelling the sto
wq wq wq wq wq wq wq wq wq wq
ry in each iteration (Sharing the Story) before the issue/problem/challenge c
wq wq wq wq wq wq wq wq wq wq
an be finally addressed with some confidence.
wq wq wq wq wq wq
6. (LO 1- wq
3) Descriptive analysis reports what happened. Generally, evaluating the re
wq wq wq wq wq w q wq wq wq
venues and earnings performance starts with descriptive analysis and contin
wq wq wq wq wq wq wq wq wq
ues with diagnostic analysis to understand “Why it happened?”.
wq wq wq wq wq wq wq wq
7. (LO 1-4, LO 1- wq wq wq
5) Data acquisition and preparation software tools like SQL and Alteryx wor
wq wq wq wq wq wq wq wq wq wq wq
k to get the data ready for analysis. Data visualization software tools work
wq wq wq wq wq wq wq w q wq wq wq wq wq
to both analyze data (as part of "Perform the Analysis" in the AMPS model)
wq wq wq wq wq wq wq wq wq wq wq wq wq wq
and to communicate results (as part of "Share the Story" in the AMPS mod
wq wq wq wq wq wq wq wq wq wq wq wq wq
el).
Brief Exercises
wq
1. (LO1-1, LO1-2): Match the data analytics term to its data analytics definition:
wq wq wq wq wq wq wq wq wq wq wq
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LL
wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq wq
C.
1-3
mynursytest.store
