Question 1

Which of the following best summarizes the two key limiting factors for business systems when dealing with Big Data?

Accepted Answer

A) Data storage capacity and processing power. 
B) Data availability and software tools. 
C) Database organization and transaction volume. 
D) Analytic skills and software tools. 
A) Data storage capacity and processing power. 
B) Data availability and software tools. 
C) Database organization and transaction volume. 
D) Analytic skills and software tools.

Question 2

Which of the following is not a type of analyses performed during the third step of the AMPS model,performing the analysis?

Accepted Answer

A) Descriptive. 
B) Predictive. 
C) Prescriptive. 
D) Reductive. 
A) Descriptive. 
B) Predictive. 
C) Prescriptive. 
D) Reductive.

Question 3

Which type of analysis assists with understanding why something happened during the third step of the AMPS model,performing the analysis?

Accepted Answer

A) Descriptive. 
B) Diagnostic. 
C) Predictive. 
D) Prescriptive. 
A) Descriptive. 
B) Diagnostic. 
C) Predictive. 
D) Prescriptive.

Question 4

Data analytics professionals estimate that they spend how much of their time cleaning data in order to perform analysis on it?

Accepted Answer

A) 10-15%. 
B) 20-30%. 
C) 50-90%. 
D) 99+%. 
A) 10-15%. 
B) 20-30%. 
C) 50-90%. 
D) 99+%.

Question 5

Data analytics can provide deep insight into financial data,but is not particularly useful when evaluating non-financial data such as social media.

Accepted Answer

A) True 
 B)False

Question 6

The four Vs of big data are volume,vector,velocity,and veracity.

Accepted Answer

A) True 
 B)False

Question 7

Raw data often must be scrubbed to remove extraneous data and other noise in order to become useful.This technique is known as:

Accepted Answer

A) Process,Scrub,and Import. 
B) Extract,Transform,and Load. 
C) Evaluate,Depopulate,and Finalize. 
D) Filter,Coordinate,and Upload. 
A) Process,Scrub,and Import. 
B) Extract,Transform,and Load. 
C) Evaluate,Depopulate,and Finalize. 
D) Filter,Coordinate,and Upload.

Question 8

The process of scrubbing raw data to remove extraneous data and other noise in order to increase its usefulness is known as extract,transform and load.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following best desribes the skill sets used in data analytics?

Accepted Answer

A) Building data warehouses;Populating data structures;Mining the data. 
B) Acquiring/cleansing data;Creating data structures/models;Mining/analyzing data. 
C) Developing data structures/models;Acquiring storage capacity;Analyzing the data. 
D) Creating data;Building data structures;Piloting data studies. 
A) Building data warehouses;Populating data structures;Mining the data. 
B) Acquiring/cleansing data;Creating data structures/models;Mining/analyzing data. 
C) Developing data structures/models;Acquiring storage capacity;Analyzing the data. 
D) Creating data;Building data structures;Piloting data studies.

Question 10

Which of the following best describes the AICPA's Audit Data Standards (ADS)?

Accepted Answer

A) The base level of testing procedures that should be performed on AIS data. 
B) A set of analytic procedures designed to be used with modern ERPs' large datasets. 
C) A set of standards for data files and fields designed to support external audits. 
D) The codification of all auditing guidelines pertaining to the data generated by AISs. 
A) The base level of testing procedures that should be performed on AIS data. 
B) A set of analytic procedures designed to be used with modern ERPs' large datasets. 
C) A set of standards for data files and fields designed to support external audits. 
D) The codification of all auditing guidelines pertaining to the data generated by AISs.

Question 11

Which of the following would not help create a appropriate question in the AMPS model?

Accepted Answer

A) Ensuring the data has integrity. 
B) Making the statement succinct. 
C) Narrowing the scope of the question. 
D) Knowledge of business processes. 
A) Ensuring the data has integrity. 
B) Making the statement succinct. 
C) Narrowing the scope of the question. 
D) Knowledge of business processes.

Question 12

The four Vs are considered a defining feature of big data.Which of the following is the best definition of the term big data?

Accepted Answer

A) Volition,veracity,velocity & variety. 
B) Variety,visibility,volocity & valuation. 
C) Volume,veracity,velocity,& variety. 
D) Volume,variability,variety & veracity. 
A) Volition,veracity,velocity & variety. 
B) Variety,visibility,volocity & valuation. 
C) Volume,veracity,velocity,& variety. 
D) Volume,variability,variety & veracity.

Question 13

Data analytics is used to publish historical information.

Accepted Answer

A) True 
 B)False

Question 14

Which type of question would accountants most likely use data analytics to answer?

Accepted Answer

A) Posting journal entries. 
B) Account reconciliation. 
C) Control framework definitions. 
D) Collectibility of Loans Receivable. 
A) Posting journal entries. 
B) Account reconciliation. 
C) Control framework definitions. 
D) Collectibility of Loans Receivable.

Question 15

Which type of analysis assists with defining how to optimize performance based on a potential constraint?

Accepted Answer

A) Descriptive. 
B) Diagnostic. 
C) Predictive. 
D) Prescriptive. 
A) Descriptive. 
B) Diagnostic. 
C) Predictive. 
D) Prescriptive.

Question 16

Which of the following is not a part of the AMPS model?

Accepted Answer

A) Ask the right questions. 
B) Share the story. 
C) Master the data. 
D) Parse the data. 
A) Ask the right questions. 
B) Share the story. 
C) Master the data. 
D) Parse the data.

Question 17

Which type of analysis assists with understanding what is happening right now?

Accepted Answer

A) Descriptive. 
B) Diagnostic. 
C) Predictive. 
D) Prescriptive. 
A) Descriptive. 
B) Diagnostic. 
C) Predictive. 
D) Prescriptive.

Question 18

Which of the following is the best definition of the term big data?

Accepted Answer

A) Databases measured in terms of zettabytes. 
B) Datasets that are too large and complex for businesses' existing systems utilizing traditional capabilities. 
C) Databases for businesses that generate more than one million electronic transactions per month. 
D) Datasets generated by social media applications such as Facebook,Twitter,Tencent QQ,and Instagram. 
A) Databases measured in terms of zettabytes. 
B) Datasets that are too large and complex for businesses' existing systems utilizing traditional capabilities. 
C) Databases for businesses that generate more than one million electronic transactions per month. 
D) Datasets generated by social media applications such as Facebook,Twitter,Tencent QQ,and Instagram.

Which of the following best summarizes the two key limiting factors for business systems when dealing with Big Data?

Which of the following is not a type of analyses performed during the third step of the AMPS model,performing the analysis?

Which type of analysis assists with understanding why something happened during the third step of the AMPS model,performing the analysis?

Data analytics professionals estimate that they spend how much of their time cleaning data in order to perform analysis on it?

Data analytics can provide deep insight into financial data,but is not particularly useful when evaluating non-financial data such as social media.

The four Vs of big data are volume,vector,velocity,and veracity.

Raw data often must be scrubbed to remove extraneous data and other noise in order to become useful.This technique is known as:

The process of scrubbing raw data to remove extraneous data and other noise in order to increase its usefulness is known as extract,transform and load.

Which of the following best desribes the skill sets used in data analytics?

Which of the following best describes the AICPA's Audit Data Standards (ADS)?

Which of the following would not help create a appropriate question in the AMPS model?

The four Vs are considered a defining feature of big data.Which of the following is the best definition of the term big data?

Data analytics is used to publish historical information.

Which type of question would accountants most likely use data analytics to answer?

Which type of analysis assists with defining how to optimize performance based on a potential constraint?

Which of the following is not a part of the AMPS model?

Which type of analysis assists with understanding what is happening right now?

Which of the following is the best definition of the term big data?

Accounting Information Systems and Firm Value

Accountants As Business Analysts

Data Modeling

Relational Databases and Enterprise Systems

Sales and Collections Business Process

Purchases and Payments Business Process

Conversion Business Process

Reporting Processes and Extensible Business Reporting Language Xbrl

Data Analytics in Accounting: Tools and Practice

Emerging Technologies: Blockchain and Ai Automation

Accounting Information Systems and Internal Controls

Information Security and Computer Fraud

Monitoring and Auditing Ais

The Balanced Scorecard, Business Model Canvas, and Business Value of Information Technology

Evaluating Ais Investments

Filters

Exam 10: Data Analytics in Accounting: Concepts and the Amps Model

Which of the following best summarizes the two key limiting factors for business systems when dealing with Big Data?

Which of the following is not a type of analyses performed during the third step of the AMPS model,performing the analysis?

Which type of analysis assists with understanding why something happened during the third step of the AMPS model,performing the analysis?

Data analytics professionals estimate that they spend how much of their time cleaning data in order to perform analysis on it?

Data analytics can provide deep insight into financial data,but is not particularly useful when evaluating non-financial data such as social media.

The four Vs of big data are volume,vector,velocity,and veracity.

Raw data often must be scrubbed to remove extraneous data and other noise in order to become useful.This technique is known as:

The process of scrubbing raw data to remove extraneous data and other noise in order to increase its usefulness is known as extract,transform and load.

Which of the following best desribes the skill sets used in data analytics?

Which of the following best describes the AICPA's Audit Data Standards (ADS)?

Which of the following would not help create a appropriate question in the AMPS model?

The four Vs are considered a defining feature of big data.Which of the following is the best definition of the term big data?

Data analytics is used to publish historical information.

Which type of question would accountants most likely use data analytics to answer?

Which type of analysis assists with defining how to optimize performance based on a potential constraint?

Which of the following is not a part of the AMPS model?

Which type of analysis assists with understanding what is happening right now?

Which of the following is the best definition of the term big data?

Accounting Information Systems and Firm Value

Accountants As Business Analysts

Data Modeling

Relational Databases and Enterprise Systems

Sales and Collections Business Process

Purchases and Payments Business Process

Conversion Business Process

Reporting Processes and Extensible Business Reporting Language Xbrl

Data Analytics in Accounting: Tools and Practice

Emerging Technologies: Blockchain and Ai Automation

Accounting Information Systems and Internal Controls

Information Security and Computer Fraud

Monitoring and Auditing Ais

The Balanced Scorecard, Business Model Canvas, and Business Value of Information Technology

Evaluating Ais Investments

Filters