cs exam 2

If a confusion matrix shows 46 TP, 6 FN, 500 TN, and 4 FP, what is the accuracy ratio?

0.98

If a confusion matrix shows 25 TP, 5 FN, 1000 TN, and 5 FP, what is the accuracy ratio?

0.99

If Home Depot has an invoice due date of 12/2/2021 and today's date is 12/31/2021, what is the number of days past due?

29

Based on SOX, what section is about corporate responsibility for financial reports?

302

Based on SOX, which section is about internal control?

404

According to estimates considered in the chapter, up to what percentage of a data analyst's time is spent cleaning (or scrubbing) the data to be ready for analysis?

90%

The process of cleaning and scrubbing the data before data analysis can take place

AMPS: Master the data

Delivering the findings to the decision maker of which firms our company should approve for credit

AMPS: Share the story

XBRL style sheets:

Add presentation elements to instance documents.

The A in the AMPS model stands for which of the following?

Ask the Question

ADS is a standard format for data files and fields typically needed to support an external audit in a given financial business process area that was developed by the AICPA. The acronym ADS stands for what three words?

Audit Data Standards

a standard format for data files and fields typically needed to support an external audit

Audit Data Standards

Datasets that are too large and complex for businesses' existing systems to handle using their traditional capabilities to capture, store, manage, and analyze these datasets

Big data

created mainly for cryptocurrency application

Bitcoin

XBRL GL can be used to combine the operations of multiple organizations

Consolidations

COBIT stands for

Control Objectives for Information and related Technology

Management establishes, with board oversight, structures, reporting lines, and appropriate authorities and responsibilities in the pursuit of objectives

Control environment

Which term is used to describe the science of examining raw data, removing excess noise from the dataset, and organizing the data with the purpose of drawing conclusions for decision making?

DAta analytics

A computer based information system that facilitates business decision-making activities

Decision support system (DSSs)

Which type of analytics would be associated with summarizing what happened in the past?

Descriptive

Process of summarizing accounts receivable by how long it has been outstanding

Descriptive analysis

Which type of analytics addresses "Why did it happen"?

Diagnostic

What type of analysis addresses questions of "Why did it happen"?

Diagnostic analysis

Process of determining how separation of duties was violated at the company

Diagnostic analytics

Which feature cannot be found in bitcoin?

Double spend

The acronym ETL, in the process of readying data for use in data analysis, refers to what three words?

Extract, transform, and load

True/FAlse: SOX requires companies to use COSO or COSO ERM as the framework in evaluating internal controls.

False

True/False: A major reason of internal controls implemented for an information system is to provide perfect assurance that the goals of each business process are achieved.

False

True/False: Backup is a preventive control.

False

True/False: ISO 27000 series are best practices for IT service management

False

True/False: SOX requires all public companies to use the COSOERM framework to meet the requirements of section 404

False

True/False: the responsibility of monitoring the effectiveness of internal controls belongs to the internal audit group

False

Ture/False: Data warehouses gather information from external databases, but not from internal databases.

False

XBRL GL offers an extensible, multinational solution that can exchange the data required by internal finance, accountant, and creditors

Flexibility

How many copies of the ledger are in a blockchain network with 4 participating nodes?

Four

The steps in business intelligence include

Gather Information, Analyze Data for Patterns, Make Decision

The ISO 27000 series are a framework for:

Information security management

What is considered a control environment factor by the COSO definition of internal control?

Integrity and ethical values

Which of the following best describes the purpose of the slicer for pivot tables?

It filters the output of the pivot table.

What chart is used to show trend over time?

Line charts

Which of the following best describes machine learning?

Machine learning is a technique where a software model is trained using data.

Provide management an d information technology governance model that helps in delivering value from IT and understanding and managing risks associated with IT

Main purpose of COBIT 2019

Improve quality of financial reporting through internal controls and corporate governance

Main purpose of COSO 2013

Expand internal controls to provide broader view on risk management to maximize the firm value

Main purpose of COSO ERM 2004

Provide a framework and guidelines for information security

Main purpose of ISO 27000 series

Manage IT infrastructure and service delivery

Main purpose of ITIL

What is not an objective of what-if analysis?

Predict future sales

What type of analysis would address the question of whether a customer will ultimately pay if credit is granted?

Predictive analysis

If we wanted to know what grade we needed to get on the final in this class based on our expected performance before the final, we would call that _____________ analysis?

Prescriptive

Which type of analytics would be associated with finding the sales amount needed to break even?

Prescriptive

metrics used to assess the performance of a model?

Recall, Accuracy, Precision

permits the representation of information using traditional summaries and through flexible links

Reporting independence

Avoiding, accepting, reducing and sharing are components of _____ in Enterprise Risk Management?

Risk Response

The organization considers the potential fraud in assessing risks to the achievement of objectives

Risk assessment

Which group required the use of XBRL by all of its members?

SEC

what body mandated that operating firms in its jurisdiction submit their financial reports using XBRL?

SEC

Any developer can create import and export routines to convert information from any system to XBRL GL format

System independence

Which of the following best describes reinforcement learning?

The model learns by trial-and-error.

True/False: A firm must establish control policies, procedures, and practices that ensure the firm's business objectives are achieved and its risk mitigation strategies are carried out.

True

True/False: COBIT (Control Objectives for Information and related Technology) is a generally accepted framework for IT governance in the U.S.

True

True/False: Corporate governance is a set of processes and policies in managing an organization with sound ethics to safeguard the interests of its stakeholders.

True

True/False: Data warehouses are often designed to facilitate decision making such as those often used in managerial accounting and facilitate management by exception, such as variance reports, trend reports, variance analysis reports, and reports that show actual performance are compared to budgeted information.

True

True/False: In a computerized environment, internal controls can be categorized as general controls and application controls.

True

True/False: Internal controls help safeguard an organization's assets.

True

True/False: Regarding IT control and governance, the COBIT framework is most commonly adopted by companies in the US

True

True/False: The main objective of the ISO 27000 series is to provide a model for establishing, implementing, operating, monitoring, maintaining, and improving information security.

True

Ture/False: Data Mining is a process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known.

True

What does not facilitate business decision-making activities?

UML Class Diagram

What v? Financial statement data that appears in tables

Variety

What v? data coming in at fast speeds or in real time, such as streaming videos and news feeds

Velocity

What v? data with a lot of missing observations

Veracity

What v? opinions or facts

Veracity

What v? all twitter data from 2021

Volume

What v? the massive amount of streaming data involved

Volume

Big Data is often described by the four V's, or

Volume, Velocity, Veracity and Variety

Which type of question does descriptive analysis address?

What happened?

Which type of question does prescriptive analysis address?

What should we do based on what we expect will happen?

a document containing XBRL elements

XBRL Instance document

provides the underlying technical details of what XBRL is and how it works

XBRL Specification

defines and describes each key data element

XBRL Taxonomy

Adds presentation elements to XBRL instance documents to make them more readable to people

XBRL style sheet

When we refer to smart contract in blockchain, we mean:

a piece of software code that can be executed or triggered by business activities.

Control that are designed to prevent, detect, or correct errors in transactions as they are processed through a specific subsystem are referred to as

application controls

Intelligence exhibited by machines rather than humans.

artificial intelligence

a computer-based technique for accumulating and analyzing data from databases and warehouses to support managerial decision making

business intelligence

computer based technique to analyze data

business intelligence

Summarizes data in a range, table, or external data source Users can choose subtotals and grand totals it can include multidimensional summaries by designating row and column categories users can format the numbers in the Values feild

characteristics of a pivot table

A data warehouse may include:

competitor information.

It is a table summarizing the prediction results.

confusion matrix

A selected set of organizations may run a blockchain node separately for keeping the transaction records. Administrators from the organizations establish the access rights and permissions for each participant. This type of blockchain is often called:

consortium blockchain

The organization deploys control activities through policies that establish what is expected and procedures that put policies into place

control activities

The organization holds individuals accountable for their internal control responsibilities in the pursuit of objectives

control environment

the five essential components in the COSO 2013 framework

control environment control activities monitoring activities information and communication risk assessment

A digital dashboard tracks, in a user-friendly way:

critical business processes.

A subset of the information from the data warehouses to serve a specific purpose

data mart

a subset of a data warehouse

data mart

what technique is used to analyze data for business intelligence purposes?

data mining

A graphical representation that presents information to decision makers

data visualization

a collection of information gathered from an assortment of external and operational databases to facilitate reporting for decision making and business analysis

data warehouse

XBRL stands for

eXtensible Business Reporting Language.

XBRL GL, or XBRL GLobal Ledger Taxonomy, is different from XBRL U.S GAAP because it facilitates

efficient communication within a firm

What isnt a component of COSO ERM?

external environment and internal control evaluation

True/False: ITIL is the best internal control framework for the high-tech industry

false

Access control to ensure only authorized personnel have access to a firm's network is a:

general control

the organization obtains or generates and uses relevant, quality information to support the functioning internal control

information and communication

blockchain is analogous to

ledger

Machine learning is a technique by which a software model is trained using data.

machine learning

Ben goes to his bank to wire transfer $1,000 to his sister Jennifer. The role of the bank in this transaction is best described as:

middleman.

the organization evaluated and communicates internal control deficiencies in a timely manner to those parties responsible for taking corrective action, including senior management and the board of directors, as appropriate

monitoring activities

What type of blockchain does not restrict participation in the network?

public

Under COSO ERM framework, What objective involves parties external to the organization?

reporting objectives

technologies used in blockchain

smart contracts for business rules, hashtags, cryptography

The training data contain input—output pairs

supervised learning

True/False: Internal control is a process consisting of ongoing tasks and activities

true

True/False: employees at any level of an organization play a role in internal control

true

true/false: internal controls can provide reasonable assurance only

true

The training data only include input values.

unsupervised learning

What v? unstructured and unprocessed data, such as comments in social media, emails, global positioning system measurements, etc

variety

What v? stock market data that updates every 5 seconds

velocity