DATA AND Analytics IN Accounting Comprehensive Exam Questions and Answers Verified Solutions Latest Update

DATA AND Analytics IN Accounting
Comprehensive Exam Questions and
Answers
Verified Solutions Latest Update


Question:

What are the 4 V's of big data?

Answer:
Volume, Variety, Veracity, and Velocity.


Question:

What does the 'analytics mindset' refer to?

Answer:
A mental attitude focused on navigating big data to be a successful accountant.


Question:

What does SMART stand for in the context of asking questions?

Answer:
Specific, Measurable, Achievable, Relevant, Timely.


Question:

What does ETL stand for?

Answer:
Extract, Transform, Load.


Question:

What is the first step in the ETL process?

Answer:
Extracting data.

, Question:

What are the three types of data?

Answer:
Structured data, semi-structured data, and unstructured data.


Question:

What is structured data?

Answer:
Data that is highly organized and fits into fixed fields.


Question:

What is semi-structured data?

Answer:
Data that has some organization but is not fully organized for relational databases.


Question:

What is unstructured data?

Answer:
Data that has no uniform structure.


Question:

What are the four steps to transforming data?

Answer:
Understand the data and desired outcome, standardize and clean the data, validate
data quality, document the transformation process.


Question:

What is data structuring?

Answer:
The process of changing the organization and relationships among data fields for
analysis.