Test Bank Introduction to Data Analytics for Accounting, 2nd Edition Richardson
Chap 01 2e Answers Included ✅ 7) Of the options listed below, which is the lowest level of thinking skills in Bloom's
1) "Create" is the highest skill in Bloom's Taxonomy. Taxonomy?
⊚ true A) Create
⊚ false B) Understand
C) Apply
D) Analyze
2) "Understand" is the lowest skill in Bloom's Taxonomy.
⊚ true
⊚ false 8) Of the options listed below, which is the highest level of thinking skills in Bloom's
Taxonomy?
A) Evaluate
3) "Remember" is a higher skill than "Understand" in Bloom's Taxonomy. B) Apply
⊚ true C) Analyze
⊚ false D) Understand
4) "Ask the Right Question" is one of the desired skills for accounting professionals, consistent 9) Which is the appropriate ordering of thinking skills in Bloom's Taxonomy, where the ">"
with EY's "The Analytics Mindset". symbol means higher order skills?
⊚ true A) Evaluate > Apply
⊚ false B) Remember > Understand
C) Apply > Analyze
D) Analyze > Evaluate
5) "Communicate results with management" is one of the desired skills for accounting
professionals, consistent with EY's "The Analytics Mindset".
⊚ true 10) Which component of the AMPS model would usually involve creating a pivottable?
⊚ false A) Ask the Question
B) Master the Data
C) Perform the Analysis
6) "Extract, Transform and Load Relevant Data" is one of the desired skills for accounting D) Share the Story
professionals, consistent with EY's "The Analytics Mindset".
⊚ true
⊚ false 11) Which component of the AMPS model most appropriately addresses the skill mentioned by
EY's analytics mindset of "extract, transform and load relevant data"?
A) Ask the Question
B) Master the Data
C) Perform the Analysis
D) Share the Story
1 2
,12) Use of a dashboard to track relevant outcomes would be consistent with which component of 17) What type of question is used in learning how much the company paid in interest expenses
the AMPS model? last year?
A) Ask the Question A) What happened? What is happening?
B) Master the Data B) Why did it happen? What are the root causes of past results?
C) Perform the Analysis C) Will it happen in the future? What is the probability something will happen? Is it
D) Share the Story forecastable?
D) What should we do based on what we expect will happen? What should we do based
on what we expect will happen? How do we optimize our performance based on
13) A visualization may be used to help with which component of the AMPS model? potential constraints?
A) Ask the Question
B) Master the Data
C) Perform the Analysis 18) What type of question is predicting whether borrowers will be able to repay their loans?
D) Share the Story A) What happened? What is happening?
B) Why did it happen? What are the root causes of past results?
C) Will it happen in the future? What is the probability something will happen? Is it
14) Benford's law might be used as part of which component of the AMPS model? forecastable?
A) Ask the Question D) What should we do based on what we expect will happen? How do we optimize our
B) Master the Data performance based on potential constraints?
C) Perform the Analysis
D) Share the Story
19) What type of question is used in determining how to maximize revenues if there is a trade
war with China?
15) What type of question(s) works to explain "Why did overall tax increase even though net A) What happened? What is happening?
income did not?" B) Why did it happen? What are the root causes of past results?
A) What happened? What is happening? C) Will it happen in the future? What is the probability something will happen? Is it
B) Why did it happen? What are the root causes of past results? forecastable?
C) Will it happen in the future? What is the probability something will happen? Is it D) What should we do based on what we expect will happen? How do we optimize our
forecastable? performance based on potential constraints?
D) What should we do based on what we expect will happen? How do we optimize our
performance based on potential constraints?
20) The accuracy, validity and consistency of data used and stored over time is called
A) data veracity.
16) What type of question is used in finding the level of sales needed to break even? B) data integrity.
A) What happened? What is happening? C) data quality.
B) Why did it happen? What are the root causes of past results? D) truthful data.
C) Will it happen in the future? What is the probability something will happen? Is it
forecastable?
D) What should we do based on what we expect will happen? How do we optimize our
performance based on potential constraints?
3 4
,21) Dashboards showing current company performance are usually associated with 26) According to EY's Analytics Mindset, accounting professionals need to be able to:
A) dynamic updating. A) program their accounting analysis.
B) static updating. B) interpret and share the results with shareholders.
C) opportunist updating. C) ask questions answerable with data.
D) monthly. D) reduce the available data to a manageable level.
22) What may hinder the work of the accountant due to receiving too much information? 27) According to EY's Analytics Mindset, accounting professionals need to be able to:
A) Information availability A) program their accounting analysis.
B) Information accessibility B) produce visualizations for stakeholders.
C) Information deficits C) ask the right questions.
D) Information overload D) reduce the available data to a manageable level.
23) Over the past two years alone, what percent of the data in the world has been generated? 28) The third step of the AMPS model is
A) 50 percent A) master the data.
B) 90 percent B) perform the data testing.
C) 75 percent C) perform the analysis.
D) 80 percent D) pick appropriate data.
24) According to the textbook, the job of the accountant is continuing to change from that of data 29) As accountants of the future require higher levels of critical thinking and reasoning skills
collection to data than what was previously required for accountants, which levels of critical thinking skills as
A) analyst. outlined by Bloom’s Taxonomy should accountants need to focus?
B) scientist. A) Remember, Understand, Apply
C) interpreter. B) Create, Evaluate, and Analyze
D) curator. C) Remember, Create, and Apply
D) Curiosity, Evaluate, Understand
25) What serves as a graphical summary of various measures tracked by a company?
A) trackboard 30) The AMPS model is
B) graphical interface A) linear insofar that there is a one-way progression from A->M->P->S.
C) dashboard B) cyclical insofar that the model allows more refined questions.
D) web page C) random and since each component is equal, these can be done in any sequence.
D) exponential since each component is the product of prior components.
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, 31) Which common visualization type would be used to compare values? 36) Which step of the AMPS model is emphasized by the use of Alteryx?
A) Pie chart A) Ask the Question
B) Bar chart B) Share the Story
C) Line Graph C) Perform the Analysis
D) Scatterplot D) Master the Data
32) Which common visualization type would be used to evaluate the composition of values? 37) Which data analysis specialty task is emphasized by the use of the Tableau software tool?
A) Pie chart A) Data Visualization
B) Bar chart B) Data Analysis
C) Line Graph C) Data Acquisition
D) Scatterplot D) Data Preparation
33) A line graph would be used for which visualization purpose? 38) Which software tool would be considered to be a data acquisition and preparation tool, a data
A) Comparison of values analysis tool and a data visualization tool?
B) Distribution of values A) Alteryx
C) Trends of values over time B) Python
D) Relationships between values C) SQL
D) Excel
34) A scatterplot would be used for which visualization purpose?
A) Comparison of values
B) Distribution of values
C) Composition of values
D) Relationships between values
35) Which step of the AMPS model is emphasized by the use of Power BI?
A) Ask the Question
B) Master the Data
C) Perform the Analysis
D) Share the Story
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Chap 01 2e Answers Included ✅ 7) Of the options listed below, which is the lowest level of thinking skills in Bloom's
1) "Create" is the highest skill in Bloom's Taxonomy. Taxonomy?
⊚ true A) Create
⊚ false B) Understand
C) Apply
D) Analyze
2) "Understand" is the lowest skill in Bloom's Taxonomy.
⊚ true
⊚ false 8) Of the options listed below, which is the highest level of thinking skills in Bloom's
Taxonomy?
A) Evaluate
3) "Remember" is a higher skill than "Understand" in Bloom's Taxonomy. B) Apply
⊚ true C) Analyze
⊚ false D) Understand
4) "Ask the Right Question" is one of the desired skills for accounting professionals, consistent 9) Which is the appropriate ordering of thinking skills in Bloom's Taxonomy, where the ">"
with EY's "The Analytics Mindset". symbol means higher order skills?
⊚ true A) Evaluate > Apply
⊚ false B) Remember > Understand
C) Apply > Analyze
D) Analyze > Evaluate
5) "Communicate results with management" is one of the desired skills for accounting
professionals, consistent with EY's "The Analytics Mindset".
⊚ true 10) Which component of the AMPS model would usually involve creating a pivottable?
⊚ false A) Ask the Question
B) Master the Data
C) Perform the Analysis
6) "Extract, Transform and Load Relevant Data" is one of the desired skills for accounting D) Share the Story
professionals, consistent with EY's "The Analytics Mindset".
⊚ true
⊚ false 11) Which component of the AMPS model most appropriately addresses the skill mentioned by
EY's analytics mindset of "extract, transform and load relevant data"?
A) Ask the Question
B) Master the Data
C) Perform the Analysis
D) Share the Story
1 2
,12) Use of a dashboard to track relevant outcomes would be consistent with which component of 17) What type of question is used in learning how much the company paid in interest expenses
the AMPS model? last year?
A) Ask the Question A) What happened? What is happening?
B) Master the Data B) Why did it happen? What are the root causes of past results?
C) Perform the Analysis C) Will it happen in the future? What is the probability something will happen? Is it
D) Share the Story forecastable?
D) What should we do based on what we expect will happen? What should we do based
on what we expect will happen? How do we optimize our performance based on
13) A visualization may be used to help with which component of the AMPS model? potential constraints?
A) Ask the Question
B) Master the Data
C) Perform the Analysis 18) What type of question is predicting whether borrowers will be able to repay their loans?
D) Share the Story A) What happened? What is happening?
B) Why did it happen? What are the root causes of past results?
C) Will it happen in the future? What is the probability something will happen? Is it
14) Benford's law might be used as part of which component of the AMPS model? forecastable?
A) Ask the Question D) What should we do based on what we expect will happen? How do we optimize our
B) Master the Data performance based on potential constraints?
C) Perform the Analysis
D) Share the Story
19) What type of question is used in determining how to maximize revenues if there is a trade
war with China?
15) What type of question(s) works to explain "Why did overall tax increase even though net A) What happened? What is happening?
income did not?" B) Why did it happen? What are the root causes of past results?
A) What happened? What is happening? C) Will it happen in the future? What is the probability something will happen? Is it
B) Why did it happen? What are the root causes of past results? forecastable?
C) Will it happen in the future? What is the probability something will happen? Is it D) What should we do based on what we expect will happen? How do we optimize our
forecastable? performance based on potential constraints?
D) What should we do based on what we expect will happen? How do we optimize our
performance based on potential constraints?
20) The accuracy, validity and consistency of data used and stored over time is called
A) data veracity.
16) What type of question is used in finding the level of sales needed to break even? B) data integrity.
A) What happened? What is happening? C) data quality.
B) Why did it happen? What are the root causes of past results? D) truthful data.
C) Will it happen in the future? What is the probability something will happen? Is it
forecastable?
D) What should we do based on what we expect will happen? How do we optimize our
performance based on potential constraints?
3 4
,21) Dashboards showing current company performance are usually associated with 26) According to EY's Analytics Mindset, accounting professionals need to be able to:
A) dynamic updating. A) program their accounting analysis.
B) static updating. B) interpret and share the results with shareholders.
C) opportunist updating. C) ask questions answerable with data.
D) monthly. D) reduce the available data to a manageable level.
22) What may hinder the work of the accountant due to receiving too much information? 27) According to EY's Analytics Mindset, accounting professionals need to be able to:
A) Information availability A) program their accounting analysis.
B) Information accessibility B) produce visualizations for stakeholders.
C) Information deficits C) ask the right questions.
D) Information overload D) reduce the available data to a manageable level.
23) Over the past two years alone, what percent of the data in the world has been generated? 28) The third step of the AMPS model is
A) 50 percent A) master the data.
B) 90 percent B) perform the data testing.
C) 75 percent C) perform the analysis.
D) 80 percent D) pick appropriate data.
24) According to the textbook, the job of the accountant is continuing to change from that of data 29) As accountants of the future require higher levels of critical thinking and reasoning skills
collection to data than what was previously required for accountants, which levels of critical thinking skills as
A) analyst. outlined by Bloom’s Taxonomy should accountants need to focus?
B) scientist. A) Remember, Understand, Apply
C) interpreter. B) Create, Evaluate, and Analyze
D) curator. C) Remember, Create, and Apply
D) Curiosity, Evaluate, Understand
25) What serves as a graphical summary of various measures tracked by a company?
A) trackboard 30) The AMPS model is
B) graphical interface A) linear insofar that there is a one-way progression from A->M->P->S.
C) dashboard B) cyclical insofar that the model allows more refined questions.
D) web page C) random and since each component is equal, these can be done in any sequence.
D) exponential since each component is the product of prior components.
5 6
, 31) Which common visualization type would be used to compare values? 36) Which step of the AMPS model is emphasized by the use of Alteryx?
A) Pie chart A) Ask the Question
B) Bar chart B) Share the Story
C) Line Graph C) Perform the Analysis
D) Scatterplot D) Master the Data
32) Which common visualization type would be used to evaluate the composition of values? 37) Which data analysis specialty task is emphasized by the use of the Tableau software tool?
A) Pie chart A) Data Visualization
B) Bar chart B) Data Analysis
C) Line Graph C) Data Acquisition
D) Scatterplot D) Data Preparation
33) A line graph would be used for which visualization purpose? 38) Which software tool would be considered to be a data acquisition and preparation tool, a data
A) Comparison of values analysis tool and a data visualization tool?
B) Distribution of values A) Alteryx
C) Trends of values over time B) Python
D) Relationships between values C) SQL
D) Excel
34) A scatterplot would be used for which visualization purpose?
A) Comparison of values
B) Distribution of values
C) Composition of values
D) Relationships between values
35) Which step of the AMPS model is emphasized by the use of Power BI?
A) Ask the Question
B) Master the Data
C) Perform the Analysis
D) Share the Story
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