ACC 312 final exam examples

Foreign keys are required in every relational database table. T/F

False

Predicting which companies are likely to have misstated financial statements is an example of the predictive analytics technique of:

classification.

Which of the following is not one of the five required forms required by the SEC?

M-1

Examples of personally identifiable information includes all but which of the following?

Job title

We would expect a positive (+) relationship between loan acceptance and employment length. T/F

True

What is the final step in the AMPS model?

Share the Story

Based on Lab 10-1 Excel: Create a Dashboard Using PivotTables and Slicers, once the data is loaded into the PivotTable, how do you switch from the default view of the table you selected to viewing each table in the workbook?

All

Which system would be used to track annual performance of each employee?

Human Resource Management System

It is possible to input raw data within Tableau. T/F

False

Which type of analytics will forecast sales?

Predictive analytics

If we wanted to know what level of sales was achieved last quarter at a competitor company, we would perform:

Descriptive analytics

While proportion is an effective method for summarizing many different data types, it is the most sophisticated way to summarize which following data type?

Categorical

Which is the appropriate base for common-size balance sheet line items?

Total assets

Which type of ratio is return on assets? (L,S,P)

Profitability

Financial statements already contain many of the counts, totals, sums, averages, subtotals, minimums, and maximums that are needed as part of accounting descriptive analytics. T/F

True

Aged receivables in a pivot chart is actually a modified version of which of the following?

Histogram

Data with an equal and definitive interval between each data point and absolute “zero” in the point of origin measuring transactions amounts for revenues and expenses would be considered which type of data?

ratio data

Which of the following is a solvency ratio?

Times interest earned ratio

Comparing the extent of long-term debt to a company’s equity is an example of:

Ratio analysis

When accessing data, which of the following applications requires that you connect to a(n) external datasource?

Tableau

Deception that is intended to result in financial gain is called

Fraud

According to Benford’s law, numbers with the first digit “4” are more likely than those with first digit “3”. T/F

False

An observation, or data point that is expected on a box plot will typically appear where?

Inside the maximum or minimum value within the expected range

The decision of which major expenditures and projects a company will invest in is traditionally called

Capital budgeting

Internal control benefits of storing data in relational databases include all except for which of the following?

Increased repetition for more accuracy

Which type of analytics generally would go first when addressing an accounting issue?

Descriptive

What type of analytics would predict if a company is expected to go bankrupt?

Predictive

Which is the appropriate ordering of thinking skills in Bloom's Taxonomy, where the ">" symbol means higher order skills?

Evaluate > Apply

While Excel defaults to showing the data in a tabular format, Tableau defaults to showing the data in which of the following formats?

visual format

A complete payment made all at one time, is called an annuity. T/F

False

Analytics of the inventory item that produces the most profit is an example of the diagnostic analytics of:

performing drill-down detailed analytics.

Which component of the AMPS model most appropriately addresses the skill mentioned by EY's analytics mindset of "extract, transform and load relevant data"?

Master the data

If the data analyst hypothesizes that grocery sales are higher when payment is made using credit cards compared to cash payment, the null hypothesis would likely state that grocery sales are lower when payment is made using credit cards compared to cash payment. T/F

True

What would be most likely to be disclosed in an 8-K filing to the SEC?

Naming of a new CFO

Working to find the product mix which maximizes profits subject to constraints is an example of which prescriptive analytics technique?

Optimization

In fuzzy matching, if the tolerance for a match is set to 0%, what is the likely consequence for finding potential matches?

Too many potential matches

Which of the following is the most common type of database model?

Relational

Veracity evaluates whether the data is accurate (and clean), worthy of trust and:

Truthful

Ordinal data ranks or orders numerical data. T/F

False

Compilation of the financial statements would be a form of predictive analytics? T/F

False

Which of the following is a profitability ratio?

Profit margin

What serves as a graphical summary of various measures tracked by a company?

dashboard

What is the data type for Invoice Number considered to be?

Nominal

The higher the expected risk, the lower the expected return. T/F

False

Which of the following is a liquidity ratio?

Inventory turnover ratio

Benford's law might be used as part of which component of the AMPS model?

Perform the Analysis

Regardless of the type of data in a chart, it should be in which order, based on the following choices?

Logical

If the data analyst hypothesizes that grocery sales are higher on Sunday than on other days, the null hypothesis would likely state that:

Grocery sales are lower or no different on Sunday than on other days.

According to Beneish, which of the following factors are predictive of financial statement fraud?

Increase in sales growth in current period

An analysis which expresses financial information in relation to some relevant figure or base is called:

Vertical analysis

The data series is the underlying data populating the data visualization. T/F

True

Diagnostic analytics emphasizes “What happened?”. T/F

False

Which type of question does prescriptive analytics address?

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

In make-or-buy analysis, which of the following is not a key input to the decision?

the sales price of the product being manufactured

Management accounting uses variance analysis to explain what and why something happened in the cost of producing products. It is done by comparing actual outcomes to expected, or standard, costs. What is the expectation when unplanned overtime is required to complete the job?

Unfavorable labor rate variance