DATA MIDTERM

Slicing refers to

Breaking down the data into smaller parts

Which of the following Microsoft Excel functions counts the number of cells specified by a given set of criteria?

COUNTIFS

Managerial accountants would most likely be motivated to perform data analyses for which of the following?

Changes to the organization's strategies, performance, and resource costs

Financial accountants would most likely plan data analyses strategies for which of the following?

Changes to their assumptions and estimates for end of period adjusting entries

Managerial accountants would most likely plan data analyses when which of the following occur?

Changes to their organization's performance

The analyze stage of the data analytics process includes which of the following tasks?

Cleaning the data set to remove errors and omissions

Auto filter functionality in a PivotTable can be accessed by

Clicking on the dropdown arrow in the filter box

Which of these is not an objective of data analysis strategies?

Collecting data

The ability to prepare effective data visualizations for the results of an analysis is part of which skill set?

Communication

Analyses of the stakeholders and their perspectives helps to critically think through motivation to perform data analyses because

Considering the perspectives of stakeholders helps identify the objective and develop good questions

One source of motivation for data analyses in accounting relates to opportunity. Which of the following is an example of the motivation source of opportunity?

Considering whether to expand production of a newly launched product

Assume you plan to perform a descriptive analysis of your entity's maintenance expenses. Which of the following analyses would help understand categories of maintenance expenses?

Create a frequency distribution table based on maintenance expense categories

Disciplined reasoning used to investigate, understand, and evaluate an event, opportunity, or an issue is considered

Critical thinking

Which of the following could refer to the name of a column in a sales invoices data set?

CustomerState

Data differs from information because

Data are raw figures and facts whereas information is the knowledge we gain from the data

Which activities are performed during the reporting stage of data analysis?

Data interpretation and communication

Which of the following terms describes the process of profiling, cleaning, restructuring, and integrating data prior to processing and analysis?

Data preparation

In an optimization model, what is being determined?

Decision variables

Tax accountants would most likely plan a data analysis strategy that can

Describe cash outflows for business expenses during the last year

If the objective of data analysis is to understand what is currently happening or has happened in the past, then what type of question are you asking?

Descriptive

The question "Why are costs rising in business unit A?" would be answered using which type of data analysis method?

Diagnostic

What type of question is "What is driving the increase in labor expenses?"

Diagnostic

Using data visualization to identify underlying patterns is considered

Exploratory data visualization

A join that returns all records when there is a match in either the left or right table is which type of join?

Full

If the coefficient of skewness is -1.5, the data distribution will have a

High degree of skewness and tail to the left

A visualization used to show frequency distributions is a/an

Histogram chart

Which of the following specific questions depicts a descriptive analysis objective for accounts receivable balance at year-end?

How many of the open invoices at the end of the year are past due?

Which of the following is a question asked in predictive analysis?

How much will revenue be affected if we have a 5% decrease in variable costs?

Financial accountants would be most likely motivated to perform data analyses for which of the following?

Identifying and supporting assumptions and estimates for end of period adjusting entries

Which element of critical thinking helps avoid wasting time on irrelevant analyses or findings?

Identifying the purpose

A join that returns all rows from both tables that have matching values is which type of join?

Inner

Predictive and prescriptive analyses that include creating trendline visualizations are appropriate for which data measurement scale?

Interval

In a relational database, a primary key

Is a unique value

Critically considering the purpose for performing data analyses

Keeps us focused on the reason why something is done or created

A join that results in retrieving all the records from the left table and the matching records from the right table is which type of join?

Left

A visualization used to represent changes in volume over time is a/an

Line graph

Diagnosing objectives in data analysis strategies involve which of the following?

Looking for associations between data variables

The sum of all observations in a data set divided by the total number of observations is called the

Mean

The middle value when the data in a data set are arranged from smallest to largest is called the

Median

AIS accountants are most likely to be motivated to perform data analyses for which of the following opportunities?

New technologies that can provide cost savings for operational processes

AIS accountants would most likely design a data analysis strategy for which of the following opportunities?

New technologies that can provide cost savings for operational processes

You are asked to perform an analysis predicting the accounts payable balance at the year-end. Which of the following data sources are best to analyze for this objective?

Open vendor invoices that refer to purchases already received.

Which of the following is NOT a data measure scale that can be used in designing your data analysis strategy?

Optimal data

Descriptive analysis that include median central tendency measures are appropriate for which data measurement scale?

Ordinal

A visualization used to illustrate simple part-to-whole relationships is a/an

Pie chart

Which tool in Microsoft Excel will reorganize spreadsheet data into custom summaries of key information?

PivotTable

Understanding why we are performing data analysis, what the goal is, and which data to use is part of which stage of data analysis?

Plan Stage

The question "Based on current year sales, what can we expect for next year's sales?" would be answered using which type of data analysis method?

Predictive

What type of question is "How much will revenue be next year if we increase sales by 10%?"

Predictive

What type of question is "How many units of product should we buy each month to minimize inventory holding costs but still meet demand?"

Prescriptive

Self-service business intelligence software

Provides easy-to-use extended data processing capabilities for preparing data, and reporting data analysis results

Diagnostic analyses that include data dispersion measures such as variance and standard deviation are appropriate for which data measurement scale?

Ratio

Which of the following data measure scales allows for meaningful multiplication of data points?

Ratio data

A collection of logically related data that can be retrieved, manipulated, and updated to meet users' needs is called a:

Relational Database

Tables in a database may be in which of the following elements?

Resources, events, agents

A join that returns all the records from the right table as well as all the matched records from the left table is which type of join?

Right

This function adds the cells specified by a condition or criteria.

SUMIF

This function adds the cells specified by a conditions or criteria

SUMIFS

Considering several alternative methods of analysis helps you

Select the option that is best for the project's purpose

Which of the following refers to the content of a data set's row?

Single occurrence of the data record

Critically thinking through the motivation to perform data analyses includes considering

Stakeholders, purpose, alternatives, risks, knowledge, and self-reflection

Once you have articulated a descriptive question, what type of analysis is necessary to understand the dispersion of the data?

Standard deviation

A mindset of being aware of the newest technology and a willingness to try new things is referred to as

Technological agility

Which of the following is an example of knowledge you might need to acquire for data analysis strategy planning?

The analysis is appropriate for your data measurement scales

Who is an internal stakeholder for a manufacturing company?

The company's CFO (chief financial officer).

Assume you are asked to estimate the amount of uncollectible receivables at year-end. Which of the following is not an analysis risk to consider when estimating accounts receivable bad debts at year-end?

The number of full-time sales employees is reported inaccurately

Motivation in data analytics in accounting is

The reason why the analysis is being performed

Which of these is a risk in data analysis?

A client that wants a particular outcome

A PivotTable displays sales by product type, year of sale, and the total dollar amount of sale. You would like to only see three of the 15 specific product types. The best way to focus only on the specific product types you are interested in is to use

A filter

A request for data from a database in order to retrieve or manipulate it is called:

A query

When performing a join between two tables, if a null value is returned, that indicates

A value does not exist in the database

Which of the following Microsoft Excel functions returns the arithmetic mean for a range or array of numbers?

AVERAGE

Performing the most appropriate data analyses is more likely if you critically think through issues by

Acquiring and applying new knowledge

Bar chart visualizations are appropriate for data with which measurement scale?

All measurement scales are appropriate for bar charts

Critically thinking through the risks to your perspective as you determine your motivation to perform data analyses helps you minimize

All of these are benefits of considering the risks to your data analyses choices

Which of the following is a benefit of data visualization?

All of these are benefits to data visualization

Critically thinking through the risks to a data analysis strategy during planning will help avoid

All of these are possible costs from not considering the risks to data analysis choices

Auditors' motivation to perform data analyses would be high for which of the following situations?

All these are examples of situations where auditors are motivated to perform data analyses

The components of an effective data analysis strategy plan consider each of the following EXCEPT FOR

Analysis complexity

The data analysis process stage in which information models are built is the

Analyze Stage

Accountants' motivations to perform data analyses can originate from

Any of these may trigger the motivation to perform data analyses

Which of the following objective questions reflects a diagnostic purpose for accounts receivable year-end balance?

Are new customers causing the increase in outstanding invoices in the year-end accounts receivable balance compared to last year?

A negative correlation means

As one variable increases, the other variable decreases

Columns in a database reflect

Attributes

Professional critical thinking elements in data analysis include

Understanding stakeholders, identifying the purpose, considering alternatives, assessing risks, identifying knowledge needed, and self-reflecting

Measures of dispersion show

Variation

Which of the following is an appropriate response to the data risk that the sample selected for analysis is inappropriate?

Verify the representativeness of your sample

Which of these analysis strategies involve categorical and ratio data measurement scales?

Which types of capital sourcing have the highest cost of capital

The sub-question "Are there any unusual sales transactions in 2023?" is best associated with which of the following objectives of data analysis?

Why are sales decreasing during 2023?

A data analysis strategy is more likely to be successful if you critically think through

Your objectives for the analysis