ACC 330 Midterm

What type of question is choosing to take certain tax deductions based on the way managers believe tax legislation will change in the near future? -what happened? what is happening? -why did it happen? what are the root causes of past results? -will it happen in the future? what is the probability something will happen? is it forecastable? -what should we do based on what we expect will happen? how do we optimize our performance based on potential constraints?

-what should we do based on what we expect will happen? how do we optimize our performance based on potential constraints?

If there are 20 return transactions and 50 sales transactions, what is the proportion of return transactions? -20/70 -20/50 -70/20 -50/20

20/70

If there are five transactions on 12/1, four transactions on 12/2, and nine transactions on 12/3, what is the proportion of the 12/1 transactions that occur during the first three days of December? -18/5 -5/12 -5/18 -5/9

5/18

An announcement of a new CEO would most likely be reported on which SEC form? -10-K -10-Q -8-K -S-1

8-K

Tableau shows you are importing a categorical variable by showing the _______ icon. -graphical -Abc -bar chart -numerical

Abc

A business report that allows an easy, automated exchange between a financial statement repository and a financial statement user is possible using ___? -XBLR -XML -Excel -google financials

XBLR

What is the computer based standard used to define and exchange financial information from financial statement preparers to financial statement users? -SEC EDGAR -XBRL -earnings call -customer relationship management

XBLR

_____ is data about the data. -a data dictionary -a data table -numerical data -categorical data

a data dictionary

Which component of the AMPS model most appropriately addresses the axiom, "Your data won't speak unless you ask it the right data analytics questions"? -ask the question -master the data -perform the analysis -share the story

ask the question

Transaction_Type in Exhibit 3.3 is considered _______. -ratio data -categorical data -numerical data -ordinal data

categorical data

What would be most likely to be disclosed in an 8-k filing to the SEC? -financial statements -change in auditor -management discussion and analysis -overview of a company's main operations

change in auditor

What kind of analytics is generally used to predict whether a company's financial statements are fraudulent? -time series -classification -regression -horizontal analysis

classification

If we run a regression where y (college completion rate) = f (factors potentially predicting college completion rate), what is the dependent variable? -factors potentially predicting college completion rate -college completion rate -cannot be determined

college completion rate

There are really very few opportunities to have a question-and-answer session with the CEO of a company and have it recorded for others to use. However, _______ of such an interactive question-and-answer session that is fairly widely available to all interested parties. -the management discussion and analysis as part of the 10-K -conference call transcripts -press releases -SEC form 8-k

conference call transcripts

Which is the highest level of skills in Bloom's Taxonomy? -create -apply -analyze -understand

create

Which is the appropriate ordering of skills in Bloom's Taxonomy, where the ">" symbol means higher order skills? -remember > apply -apply > analyze -analyze > evaluate -create > analyze

create > analyze

Tableau has the biggest advantage over Excel in _______. -data analysis -data entry -data manipulation -data visualization

data visualization

What type of analytics addresses questions of "what happened"? -descriptive analytics -diagnostic analytics -predictive analytics -prescriptive analytics

descriptive analytics

What type of analytics would primarily summarize facts and compute sums, averages, counts, etc? -descriptive analytics -diagnostic analytics -predictive analytics -prescriptive analytics

descriptive analytics

What type of analytics would include Benford's law to assess whether fraud has occurred? -descriptive analytics -diagnostic analytics -predictive analytics -prescriptive analytics

diagnostic analytics

Tableau requires that you create a connection to a(n) _______ data source. -internal -external -proprietary

external

Foreign keys are required in every relational database table. -true -false

false

Whereas _______ would generally be considered to structured data, _______ would generally be considered to be unstructured data. -financial statements; product reviews -product reviews; financial statements -instagram pictures; product reviews -geographic images; firm budget

financial statements; product reviews

To faithful represent what occurs, accounting information need to be _____, complete, and neutral. -reliable -free from error -relevant -timely

free from error

The biggest difference between a 10-K and a 10-Q is the ____ disclosure. -frequency of -agency that receives -financial statements included in the -company providing the

frequency of

If the critical value for a one tailed t-test at the a = .05 level is 1.645, the t-statistic needed to reject the null hypothesis of no difference would be _____. -greater than 1.645 -less than 1.645

greater than 1.645

A ___ might be used to evaluate which journal entries are outliers? -regression analysis -benford's law analysis -histogram -sum function (excel)

histogram

Which system would be used to manage the hiring process for all potential employees? -human resource management system -customer relationship management system -supply chain system -financial reporting system

human resource management system

Averaging is a summarization method for which type of data? -categorical -numerical -both

numerical

A ____ t-test has more power than a _____ t-test. -one tailed; two tailed -two tailed; one tailed

one tailed; two tailed

Noting gold, silver, and bronze medals for Olympic athletes would be considered a form of _______ data. -ratio -ordinal -numerical -interval

ordinal

Internal controls benefits of storing data in relational databases include all but which of the following? -reduced redundancy cuts down on errors -physical security of the data is enhanced -security around data entry and table access can aid in creating and enforcing data entry internal controls -preventive internal controls are easier to enforce

physical security of the data is enhanced

What type of analytics would address the question of whether a company will go bankrupt? -descriptive analytics -diagnostic analytics -predictive analytics -prescriptive analytics

predictive analytics

If we wanted to know what level of sales would be needed to break even given the current economic environment, we would call that _______ analytics. -descriptive -diagnostic -predictive -prescriptive

prescriptive

What type of analytics would primarily use what-if analysis, scenario manager, and goal seek analysis? -descriptive analytics -diagnostic analytics -predictive analytics -prescriptive analytics

prescriptive

If customer ID is a unique identifier for the customer table, it would be the _______. -primary key -foreign key -unique key

primary key

The chapter suggested that _______ be used to help evaluate inventory obsolescence and the lower of cost or net realizable value of inventory. -product reviews -inventory counts -structured data -supply chain data

product reviews

Employee salaries would be considered examples of ____ data? -interval -ratio -ordinal -unstructured

ratio

If p-value is <= alpha threshold, you should -reject the null hypothesis (significant result) -fail to reject the null hypothesis (insignificant result)

reject the null hypothesis (significant result)

The most common type of database model is the _____ database. -hierarchical -network -relational -star schema

relational

To be useful to decision makers, accounting information must be _______ and exhibit faithful representation. -reliable -free from error -relevant -neutral

relevant

Which is the lowest level of skills in Bloom's Taxonomy? -create -remember -apply -analyze

remember

Which component fo the AMPS model most appropriately addresses the question of the best way to communicate data analytics findings with a decision maker? -ask the question -master the data -perform the analysis -share the story

share the story

The term "useful life" in the fixed asset subledger is considered to be helpful to the preparer and the user because it _______. -tells how long the asset is expected to be used until it is sold -the number of years it will be used before it is retired -tells the accountant the depreciation period the assets will be depreciated over

tells the accountant the depreciation period the assets will be depreciated over

What kind of analytics is generally used to forecast future sales, earnings, and cash flows from operating activities? -time series -classification -regression -Benford's law

time series

According to the text, data integrity essentially means _____. -truth in data -that the testing can handle multiple versions of the data -reliable data

truth in data

Which distribution is a probability distribution where all outcomes are equally likely? -normal distribution -poisson distribution -level distribution -uniform distribution

uniform distribution

Blogs and social media posts would be considered _______. -structured data -unstructured data -numerical data -ordinal data

unstructured data

Data considering the text in blogs would generally be considered _______. -structured data -interval data -unstructured data -ratio data

unstructured data

If there were fake news presented by someone trying to sway an opinion (or a vote), that would bring into question which aspect of Big Data? -volume -veracity -velocity -variety

veracity

What type of question is determining how much a company paid for state and federal income tax? -what happened? what is happening? -why did it happen? what are the root causes of past results? -will it happen in the future? what is the probability something will happen? is it forecastable? -what should we do based on what we expect will happen? how do we optimize our performance based on potential constraints?

what happened? what is happening?

Which tool is generally associated with prescriptive analysis? -what-if scenario -fuzzy matching -pivot tables -means, modes, medians, and counts

what-if scenario

Which type of question does diagnostic analytics address? -what happened? -what should we do based on what we expect will happen? -why did it happen? -will it happen in the future?

why did it happen?

What type of question is finding the detail to more clearly understand why net income is decreasing when revenues are increasing? -what happened? what is happening? -why did it happen? what are the root causes of past results? -will it happen in the future? what is the probability something will happen? is it forecastable? -what should we do based on what we expect will happen? how do we optimize our performance based on potential constraints?

why did it happen? what are the root causes of past results?

Which type of question does predictive analytics address? -what happened? -what should we do based on what we expect will happen? -why did it happen? -will it happen in the future?

will it happen in the future?

What type of question is predicting whether a company will go bankrupt in the coming two years? -what happened? what is happening? -why did it happen? what are the root causes of past results? -will it happen in the future? what is the probability something will happen? is it forecastable? -what should we do based on what we expect will happen? how do we optimize our performance based on potential constraints?

will it happen in the future? what is the probability something will happen? is it forecastable?

Which statistic tells us how many standard deviations a data point is from its population mean? -z-score -normal distribution -uniform distribution -F-statistic

z-score