AIS Final for Learn

b. heterogeneous systems

A company has two divisions, one in the United States and the other in China. One uses Oracle and the other uses SAP for its basic accounting system. What would we call this? a. homogeneous systems b. heterogeneous systems c. dual data warehouse systems d. dual lingo accounting systems

d. data is stored in one place

All of the following are benefits of using a normalized relational database except: a. completeness b. no redundancy c. business rules are enforced d. data is stored in one place

b. data reduction

All of the following are examples of a supervised approach to evaluation data except: a. regression b. data reduction c. link prediction d. causal modeling

d. FASB's accounting standards

All of the following may serve as standards for the audit methodology except: a. PCAOB's auditing standards b. COSO's ERM framework c. ISACA's COBIT framework d. FASB's accounting standards

b. your audience

As discussed in the book, and consistent with the writings of author Justin Zobel, your written business communications should be directed towards: a. your customer b. your audience c. your reviewer d. your supervisor

c. clean up trailing zeroes

As mentioned in the chapter, which of the following is not a common way that data will need to be cleaned after extraction and validation? a. removing headings and subtotals b. format negative numbers c. clean up trailing zeroes d. correct inconsistencies across data

a. step 2: obtain the data

At which step of the ETL process should you try to answer the question, "What tools will be used to perform data analytic tests or procedures and why?" a. step 2: obtain the data b. step 1: determine the purpose and scope of the data request c. step 5: loading the data for data analysis d. step 3 or 4: transformation

b. second

By the year 2020, about 1.7 megabytes of new information will be created every: a. week b. second c. minute d. day

b. computer-assisted audit techniques

CAATs are automated scripts that can be used to validate data, test controls, and enable substantive testing of transaction details or account balances and generate supporting evidence for the audit. What does CAAT stand for? a. computer-aided audit techniques b. computer-assisted audit techniques c. computerized audit and accounting techniques d. computerized audit aids and tests

c. validating the data for completeness

Comparing the number of records within the data is an example of which of the following: a. validating the data for integrity b. cleaning the data c. validating the data for completeness d. obtaining the data

d. an attempt to assign each unit or individual in a population into a few categories

Which of the following best describes the classification approach to data analytics? a. an attempt to divide individuals into groups in a useful or meaningful way b. an attempt to discover associations between individuals based on transactions involving them c. an attempt to identify similar individuals based on data known about them d. an attempt to assign each unit or individual in a population into a few categories

c. an attempt to divide individuals into groups in a useful or meaningful way

Which of the following best describes the clustering approach to data analytics? a. an attempt to identify similar individuals based on data known about them b. an attempt to discover associations between individuals based on transactions involving them c. an attempt to divide individuals into groups in a useful or meaningful way d. an attempt to assign each unit or individual in a population into a few categories

b. ordinal data

Gold, silver, and bronze medals would be examples of: a. nominal data b. ordinal data c. structured data d. test data

c. continuous audit

If purchase orders are monitored for unauthorized activity in real time while month-end adjusting entries are evaluated once a month, those transactions monitored in real time would be an example of a: a. traditional audit b. periodic test of internal controls c. continuous audit d. continuous monitoring

a. overfitting the data

In general, the more complex the model, the greater the chance of: a. overfitting the data b. underfitting the data c. pruning the data d. the need to reduce the amount of data considered

c. standardized normal distribution

In the late 1960s, Ed Altman developed a model to predict if a company was at severe risk of going bankrupt. He called his statistic "Altman's Z-score," now a widely-used score in finance. Based on the name of this statistic, which statistical distribution would you guess this came from? a. normal distribution b. Poisson distribution c. standardized normal distribution d. uniform distribution

b. the reader

Justin Zobel suggests that revising your writing requires you to "be egoless--ready to dislike anything you have previously written," suggesting that it is ________________ you need to please. a. yourself b. the reader c. the customer d. your boss

d. ratio data

Latitude and longitude would best be described as an example of: a. nominal data b. discrete data c. ordinal data d. ratio data

b. qualitative data

Line charts are not recommended for what type of data? a. normalized data b. qualitative data c. continuous data d. trend lines

b. extract, transform, and load data

Mastering the data can also be described via the ETL process. The ETL process stands for: a. enter, total, and load data b. extract, transform, and load data c. enter, transform, and load data d. extract, total, and load data

c. extract, transform, and load data

Mastering the data can also be described via the ETL process. The ETL process stands for: a. extract, total, and load data b. enter, transform, and load data c. extract, transform, and load data d. enter, total, and load data

d. test data

Models associated with regression and classification data approaches have all but this important part: a. identifying which variables (we'll call these independent variables) might help predict and outcome (we'll call this the dependent variable) b. the functional form of the relationship (linear, nonlinear, etc.) c. the numeric parameters of the model (detailing the relative weights of each of the variables associated with the prediction) d. test data

c. sample accounts with larger balances

Monetary unit sampling is more likely to: a. sample accounts with smaller balances b. sample accounts with less risk c. sample accounts with larger balances d. sample accounts with more risk

c. original loan approval amount

One of the key tasks of bank auditors is to consider the amount of loan loss reserve. When developing a model to estimate the current year's loan loss reserve amount, which of the following would be least likely to be included as an independent variable? a. current aged loans b. collections success c. original loan approval amount d. customer loan history

a. past archives; the future

Patterns discovered from _______________ enable businesses to identify opportunities and risks in order to better plan for ______________. a. past archives; the future b. past archives; today c. current data; today d. current data; the future

a. nominal data

Red, yellow, and blue would be best described as an example of: a. nominal data b. ordinal data c. test data d. structured data

c. set boundaries or thresholds

Regression analysis typically involves the following steps except: a. identify the variables that might predict an outcome b. determine the functional form of the relationship c. set boundaries or thresholds d. identify the parameters of the model

a. cleaning the data

Removing headings or subtotals from data is an example of which of the following: a. cleaning the data b. obtaining the data c. validating the data for integrity d. validating the data for completeness

d. interval data

Results using the Fahrenheit scale would be best described as an example of: a. ratio data b. nominal data c. ordinal data d. interval data

b. data preparation

The IMPACT cycle includes all but the following process: a. communicate insights b. data preparation c. address and refine results d. perform the test plan

a. visualize the data

The IMPACT cycle includes all but the following process: a. visualize the data b. identify the questions c. master the data d. track outcomes

g. only option A and option C

The advantages of storing data in a relational database include which of the following: Option A - help in enforcing business rules Option B - increased information redundancy Option C - integrating business processes a. option A b. option B c. option C d. All of these options are advantages of a relational database e. only option A and option B f. only option B and option C g. only option A and option C

a. word cloud

The chart below is an example of a ______________. a. word cloud b. word chart c. word map d. word plot

c. potential risk of account

The determinants for sample size include all the following except: a. confidence level b. tolerable misstatement c. potential risk of account d. estimated misstatement

a. grade point average

The following are typical examples of nominal data except: a. grade point average b. eye color c. gender d. ZIP codes

b. distance

The following are typical examples of ordinal data except: a. position in a race b. distance c. hardness of a mineral d. military rank

d. identify and obtain the data needed for solving the problem

The goal of the ETL process is to: a. identify which approach to data analytics should be used b. load the data into a relational database for storage c. communicate the results and insights found through the analysis d. identify and obtain the data needed for solving the problem

b. data dictionary

The metadata that describes each attribute in a database is which of the following: a. composite primary key b. data dictionary c. descriptive attributes d. flat file

b. to validate the data for completeness and integrity

The purpose of transforming data is: a. to load the data into the appropriate tool for analysis b. to validate the data for completeness and integrity c. to identify and obtain the data from the appropriate source d. to identify which approach to data analytics should be used

a. to validate the data for completeness and integrity

The purpose of transforming data is: a. to validate the data for completeness and integrity b. to load the data into the appropriate tool for analysis c. to obtain the data from the appropriate source d. to identify which data are necessary to complete the analysis

b. structured query language

There are a variety of methods that you could take to retrieve the data, including SQL. What does SQL stand for? a. structured question language b. structured query language c. systems query language d. systems question language

c. tax compliance

Under the guidance of the chief audit executive or another manager, these individuals build teams to develop and implement analytical techniques to aid all of the following audits except: a. process efficiency and effectiveness b. governance risk and compliance, including internal controls effectiveness c. tax compliance d. support for the financial statement audit

b. dependent variable

Understanding and predicting inventory obsolescence is an important determination for retail companies. When using competitor selling prices to estimate the inventory obsolescence reserve, the inventory obsolescence reserve represents which of the following? a. independent variable b. dependent variable c. function d. statistical model

a. independent variable

Understanding and predicting warranty expense is an important determination for manufacturing firms. When using historical claims data to estimate the current period's warranty expense, the historical claims data represents which of the following? a. independent variable b. statistical model c. dependent variable d. function

d. link prediction

Using social media to look for relationships between related parties that are not otherwise disclosed to identify related party transactions is an example of: a. profiling b. classification c. regression d. link prediction

b. descriptive attributes

What are attributes that exist in a relational database that are neither primary nor foreign keys? a. nondescript attributes b. descriptive attributes c. composite key d. relational table attributes

c. fuzzy matching

What describes finding correspondences between at least two types of text or entries that may not match perfectly? a. incomplete linkages b. algorithmic matching c. fuzzy matching d. incomplete matching

a. 10,000

What would be the sampling interval if we are using a manual approach to monitor unit sampling for a book value of $2 million and a sample size of 200? a. 10,000 b. 1,000 c. 100,000 d. cannot be determined

d. false positive

When there is an alarm in a continuous audit, but it is associated with a normal event, we would call that a: a. false negative b. true negative c. true positive d. false positive

a. false negative

When there is no alarm in a continuous audit, but there is an abnormal event, we would call that a: a. false negative b. true negative c. true positive d. false positive

b. primary key

When using [EmployeeID] as the unique identifier of the employee table, [EmployeeID] is an example of which of the following? a. composite key b. primary key c. key attribute d. foreign key

c. an overly simple model

When working with a predictive model, underfitting the data is most likely caused by: a. a lack of data reduction b. over-pruning the data c. an overly simple model d. an overly complex model

a. classification

Which approach to data analytics attempts to assign each unit in a population into a small set of classes where the unit belongs? a. classification b. regression c. similarity matching d. co-occurrence grouping

d. classification

Which approach to data analytics attempts to assign each unit or individual in a population into a few categories? a. similarity matching b. data reduction c. regression d. classification

d. profiling

Which approach to data analytics attempts to characterize the typical behavior of an individual, group, or population by generating summary statistics about the data? a. similarity matching b. regression c. data reduction d. profiling

b. clustering

Which approach to data analytics attempts to divide individuals into groups in a useful or meaningful way? a. data reduction b. clustering c. similarity matching d. co-occurrence grouping

b. regression

Which approach to data analytics attempts to estimate or predict, for each unit, the numerical value of some variable using some type of statistical model? a. data reduction b. regression c. similarity matching d. classification

c. similarity matching

Which approach to data analytics attempts to identify similar individuals based on data known about them? a. classification b. regression c. similarity matching d. data reduction

c. link prediction

Which approach to data analytics attempts to predict relationships between two data items? a. profiling b. classification c. link prediction d. regression

a. data reduction

Which approach to data analytics attempts to reduce the amount of information that needs to be considered to focus on the most critical items? a. data reduction b. similarity matching c. regression d. profiling

c. primary key

Which attribute is required to exist in each table of a relational database and serves as the unique identifier for each record in a table? a. foreign key b. unique identifier c. primary key d. key attribute

c. inventory subledger

Which audit data standards ledger defines product master data, location data, inventory on hand data, and inventory movement? a. order to cash subledger b. procure to pay subledger c. inventory subledger d. base subledger

b. procure to pay subledger

Which audit data standards ledger identifies data needed for purchase orders, good received, invoices, payments, and adjustments to accounts? a. order to cash subledger b. procure to pay subledger c. inventory subledger d. base subledger

a. direct observation of processes

Which items would be currently out of scope for data analytics? a. direct observation of processes b. evaluation of time stamps to evaluate work flow c. evaluation of phantom vendors d. duplicate payment of invoices

d. input

Which of the following best describes an independent variable? a. application b. operation c. output d. input

a. data exploration that looks for potential patterns of interest

Which of the following best describes an unsupervised approach to the evaluation of data? a. data exploration that looks for potential patterns of interest b. data exploration that is free from oversight by a superior c. data exploration that is conducted with direct oversight by a superior d. data exploration that examines the relationships between variables that are hypothesized to exist

c. structured data

Data that are organized and reside in a fixed field with a record or file. Such data are generally contained in a relational database or spreadsheet and are readily searchable by search algorithms. The term matching this definition is: a. training data b. unstructured data c. structured data d. test data

a. demonstrate the ability to sort, rearrange, merge, and reconfigure data in a manner that allows enhanced analysis

Which of the following best describes the data analytics skill of data analysis through data manipulation? a. demonstrate the ability to sort, rearrange, merge, and reconfigure data in a manner that allows enhanced analysis b. perform basic analysis to understand the quality of the underlying data and its ability to address the business question c. comprehend the process needed to clean and prepare the data before analysis d. recognize what is meant by data quality, be it completeness, reliability, or validity

d. perform basic analysis to understand the quality of the underlying data and its ability to address the business question

Which of the following best describes the data analytics skill of descriptive data analysis? a. comprehend the process needed to clean and prepare the data before analysis b. recognize what is meant by data quality, be it completeness, reliability, or validity c. demonstrate ability to sort, rearrange, merge, and reconfigure data that allows enhanced analysis d. perform basic analysis to understand the quality of the underlying data and its ability to address the business question

b. recognize when and how data analytics can address business questions

Which of the following best describes the data analytics skill of developing an analytics mindset? a. comprehend the process needed to clean and prepare the data before analysis b. recognize when and how data analytics can address business questions c. perform basic analysis to understand the quality of the underlying data and its ability to address the business question d. recognize what is meant by data quality, be it completeness, reliability, or validity

b. to create the relationship between two tables

Which of the following best describes the purpose of a foreign key? a. to support business processes across the organization b. to create the relationship between two tables c. to provide business information d. to ensure that each row in the table is unique

a. to provide business information

Which of the following best describes the purpose of a non-key attribute? a. to provide business information b. to support business processes across the organization c. to ensure that each row in the table is unique d. to create the relationship between two tables

a. audit scope

Which of the following defines the time period, the level of materiality, and the expected time for an audit? a. audit scope b. potential risk c. methodology d. procedures and specific tasks

a. employee ID

Which of the following is most likely to be the primary key in an employee table? a. employee ID b. employee name c. employee type d. Social Security number

b. SAT scores

Which of the following is not a typical example of nominal data? a. gender b. SAT scores c. hair color d. ethnic group

d. learn what data is available in the data warehouse

Which of these is not included in the 5 steps of the ETL process? a. determine the purpose and scope of the data request b. obtain the data c. validate the data for completeness and integrity d. learn what data is available in the data warehouse

c. data dictionary

Which of these terms is defined as being a central repository of descriptions for all the data attributes of a data set? a. big data b. data warehouse c. data dictionary d. data analytics

d. data and systems analysis and design

Which skills were not emphasized that analytic-minded accountants should have? a. data quality b. descriptive data analysis c. data visualization d. data and systems analysis and design

c. classification of test approaches

Which skills were not emphasized that analytic-minded accountants should have? a. developing an analytics mindset b. data scrubbing and data preparation c. classification of test approaches d. defining and addressing problems through statistical data analysis

a. classification

Which testing approach would be used to predict whether certain cases should be evaluated as having fraud or no fraud? a. classification b. probability c. sentiment analysis d. artificial intelligence

c. regression

Which testing approach would be useful in assessing the value of inventory shrinkage given multiple environmental factors? a. probability b. sentiment analysis c. regression d. applied statistics

b. predictive analytics

Which type of audit analytics might be used to find hidden patterns or variables linked to abnormal behavior? a. prescriptive analytics b. predictive analytics c. diagnostic analytics d. descriptive analytics

a. scatter plots

Which type of chart is best described as useful for identifying the correlation between two variables or for identifying a trend line or line of best fit? a. scatter plots b. box and whisker plots c. line chart d. pie chart

a. box and whisker plots

Which type of chart is best described as useful for when quartiles, median, and outliers are required for analysis and insights? a. box and whisker plots b. scatter plots c. line chart d. pie chart

c. build a data repository

While accountants don't need to become data scientists, they must know how to do the following, except: a. clearly articulate the business problem the company is facing b. comprehend the process needed to clean and prepare the data before analysis c. build a data repository d. communicate with the data scientists about specific data needs and understand the quality of the data

d. generalize

While overfitting data could lead to an error rate of zero, it is unlikely that you would be able to _____________ your results. a. specify b. define c. articulate d. generalize

c. internal auditor

Who is most likely to have a working knowledge of the various ERP systems that are in use in the company? a. chief executive officer b. external auditor c. internal auditor d. IT staff

a. it contains a unique identifier for each supplier

Why is Supplier ID considered to be a primary key for a supplier table? a. it contains a unique identifier for each supplier b. it is a 10-digit number c. it can either be for a vendor or miscellaneous provider d. it is used to identify different supplier categories

b. structured data

__________ refers to data that is stored in a database or spreadsheet that is readily searchable. a. training data b. structured data c. unstructured data d. test data

c. Benford's law

__________ states that in many naturally occurring collections of numbers, the leading significant digit is likely to be small. a. classification b. leading digits hypothesis c. Benford's law d. Moore's law

c. declarative visualizations

____________ blank are the product of wanting to present findings to an audience. a. interactive visualizations b. exploratory visualizations c. declarative visualizations d. static visualizations

d. nominal

____________ data would be considered the least sophisticated type of data. a. ratio b. interval c. ordinal d. nominal

b. discrete data

____________ is data that is represented by whole numbers. a. interval data b. discrete data c. ordinal data d. continuous data

d. test data

_____________ is a set of data used to assess the degree and strength of a predicted relationship. a. training data b. unstructured data c. structured data d. test data

c. decision boundaries

_____________ mark the split between one class and another. a. decision trees b. identifying the questions c. decision boundaries d. linear classifiers

a. ratio

______________ data would be considered the most sophisticated type of data. a. ratio b. interval c. ordinal d. nominal

d. training data; test data

_______________ is existing data that has been manually evaluated and assigned a class. ______________ is existing data used to evaluate the model. a. unstructured data; structured data b. test data; training data c. structured data; unstructured data d. training data; test data

b. support vector machines

________________ is a discriminating classifier that is defined by a separating hyperplane that works first to find the widest margin or biggest pipe and then works to find the middle line. a. linear classifier b. support vector machines c. decision trees d. multiple regression

a. ordinal data

1st place, 2nd place, and 3rd place would be best described as an example of: a. ordinal data b. interval data c. nominal data d. structured data

b. volume, velocity, and variety

Big Data is often described by the three V's, known as: a. volume, velocity, and variability b. volume, velocity, and variety c. volume, volatility, and variability d. variability, velocity, and variety