DATA AND ANALYTICS IN ACCOUNTING
PRACTICE TEST 2026 FULL SOLUTIONS
REVIEW PACK
◉ What is the A M P S model in data analytics?
Answer: A framework consisting of four steps: Ask the Question,
Master the Data, Perform the Analysis, Share the Story.
◉ What type of analysis answers 'What happened?'
Answer: Descriptive Analytics
◉ What type of analysis answers 'Why did it happen?'
Answer: Diagnostic Analytics
◉ What type of analysis answers 'Will it happen in the future?'
Answer: Predictive Analytics
◉ What type of analysis answers 'What should we do?'
Answer: Prescriptive Analytics
◉ Name a basic tool for data analysis and visualization.
,Answer: Excel
◉ What programming language is used for managing relational
databases?
Answer: SQL
◉ What is Tableau used for?
Answer: Creating interactive and shareable dashboards for data
visualization.
◉ What are the two programming languages commonly used for
advanced data analysis?
Answer: R and Python
◉ What is data integrity?
Answer: The accuracy, validity, and consistency of data.
◉ What distinguishes categorical data from numerical data?
Answer: Categorical data is qualitative, while numerical data is
quantitative.
◉ What are the four steps of the A M P S model?
,Answer: 1. Ask the Question 2. Master the Data 3. Perform the
Analysis 4. Share the Story
◉ What is the significance of critical thinking in accounting?
Answer: Critical thinking allows accountants to analyze and evaluate
information for informed decision-making.
◉ What does Bloom's Taxonomy emphasize in the context of data
analytics?
Answer: The importance of higher-order thinking skills such as
analyzing, evaluating, and creating.
◉ What is the first step in the problem-solving process for data
analytics?
Answer: Ask the Question: Clearly define the problem or question to
be answered with data.
◉ What does 'Master the Data' involve?
Answer: Assessing data for integrity, completeness, and relevance to
the question.
◉ What are common data visualization types?
Answer: Histograms, scatterplots, and dashboards.
, ◉ What is the impact of data availability on the accounting
profession?
Answer: Data availability enhances accountants' roles as critical
information providers.
◉ What is the role of automation in accounting?
Answer: Automation assists in data processing but lacks the
expertise that accountants provide.
◉ What does the term 'Big Data' refer to?
Answer: Big Data encompasses Volume, Variety, Velocity, and
Veracity in data analysis.
◉ What does Volume refer to in the context of Big Data?
Answer: The amount of data.
◉ What does Variety refer to in the context of Big Data?
Answer: The different types of data, including structured, semi-
structured, and unstructured.
◉ What is a common application of data analytics in accounting?
Answer: Evaluating journal entries for errors or fraud.
PRACTICE TEST 2026 FULL SOLUTIONS
REVIEW PACK
◉ What is the A M P S model in data analytics?
Answer: A framework consisting of four steps: Ask the Question,
Master the Data, Perform the Analysis, Share the Story.
◉ What type of analysis answers 'What happened?'
Answer: Descriptive Analytics
◉ What type of analysis answers 'Why did it happen?'
Answer: Diagnostic Analytics
◉ What type of analysis answers 'Will it happen in the future?'
Answer: Predictive Analytics
◉ What type of analysis answers 'What should we do?'
Answer: Prescriptive Analytics
◉ Name a basic tool for data analysis and visualization.
,Answer: Excel
◉ What programming language is used for managing relational
databases?
Answer: SQL
◉ What is Tableau used for?
Answer: Creating interactive and shareable dashboards for data
visualization.
◉ What are the two programming languages commonly used for
advanced data analysis?
Answer: R and Python
◉ What is data integrity?
Answer: The accuracy, validity, and consistency of data.
◉ What distinguishes categorical data from numerical data?
Answer: Categorical data is qualitative, while numerical data is
quantitative.
◉ What are the four steps of the A M P S model?
,Answer: 1. Ask the Question 2. Master the Data 3. Perform the
Analysis 4. Share the Story
◉ What is the significance of critical thinking in accounting?
Answer: Critical thinking allows accountants to analyze and evaluate
information for informed decision-making.
◉ What does Bloom's Taxonomy emphasize in the context of data
analytics?
Answer: The importance of higher-order thinking skills such as
analyzing, evaluating, and creating.
◉ What is the first step in the problem-solving process for data
analytics?
Answer: Ask the Question: Clearly define the problem or question to
be answered with data.
◉ What does 'Master the Data' involve?
Answer: Assessing data for integrity, completeness, and relevance to
the question.
◉ What are common data visualization types?
Answer: Histograms, scatterplots, and dashboards.
, ◉ What is the impact of data availability on the accounting
profession?
Answer: Data availability enhances accountants' roles as critical
information providers.
◉ What is the role of automation in accounting?
Answer: Automation assists in data processing but lacks the
expertise that accountants provide.
◉ What does the term 'Big Data' refer to?
Answer: Big Data encompasses Volume, Variety, Velocity, and
Veracity in data analysis.
◉ What does Volume refer to in the context of Big Data?
Answer: The amount of data.
◉ What does Variety refer to in the context of Big Data?
Answer: The different types of data, including structured, semi-
structured, and unstructured.
◉ What is a common application of data analytics in accounting?
Answer: Evaluating journal entries for errors or fraud.
