Data Analytics for Accounting (2nd Edition) by Vernon Richardson, Katie L. Terrell, and Ryan A. Teeter |all chapters covered|

TEST BANK
Data Analytics for Accounting
VERNON RICHARDSON, KATIE L. TERRELL, RYAN A. TEETER
2nd Edition

,Test Bank Introduction to Data Analytics for Accounting, 2nd Edition Richardson



Chap 01 2e Answers Included
1) "Create" is the highest skill in Bloom's Taxonomy.
⊚ true
⊚ false



2) "Understand" is the lowest skill in Bloom's Taxonomy.
⊚ true
⊚ false



3) "Remember" is a higher skill than "Understand" in Bloom's Taxonomy.
⊚ true
⊚ false



4) "Ask the Right Question" is one of the desired skills for accounting professionals, consistent
with EY's "The Analytics Mindset".
⊚ true
⊚ false



5) "Communicate results with management" is one of the desired skills for
accounting professionals, consistent with EY's "The Analytics Mindset".
⊚ true
⊚ false



6) "Extract, Transform and Load Relevant Data" is one of the desired skills for accounting
professionals, consistent with EY's "The Analytics Mindset".
⊚ true
⊚ false




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,7) Of the options listed below, which is the lowest level of thinking skills in Bloom's
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
Taxonomy?
A) Evaluate
B) Apply
C) Analyze
D) Understand



9) Which is the appropriate ordering of thinking skills in Bloom's Taxonomy, where the ">"
symbol means higher order skills?
A) Evaluate > Apply
B) Remember > Understand
C) Apply > Analyze
D) Analyze > Evaluate



10) Which component of the AMPS model would usually involve creating a pivottable?
A) Ask the Question
B) Master the Data
C) Perform the Analysis
D) Share the Story



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




2

, 12) Use of a dashboard to track relevant outcomes would be consistent with which component
of the AMPS model?
A) Ask the Question
B) Master the Data
C) Perform the Analysis
D) Share the Story



13) A visualization may be used to help with which component of the AMPS model?
A) Ask the Question
B) Master the Data
C) Perform the Analysis
D) Share the Story



14) Benford's law might be used as part of which component of the AMPS model?
A) Ask the Question
B) Master the Data
C) Perform the Analysis
D) Share the Story



15) What type of question(s) works to explain "Why did overall tax increase even though
net income did not?"
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 forecastable?
D) What should we do based on what we expect will happen? How do we optimize
our performance based on potential constraints?



16) What type of question is used in finding the level of sales needed to break even?
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 forecastable?
D) What should we do based on what we expect will happen? How do we optimize
our performance based on potential constraints?




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