Question 1

In a fixed asset ledger, the net book value of a fixed asset would be a calculated field equal to the original cost less __________.

Accepted Answer

A)  beginning depreciation 
B)  accumulated depreciation 
C)  ending depreciation 
D)  current period depreciation 
A)  beginning depreciation 
B)  accumulated depreciation 
C)  ending depreciation 
D)  current period depreciation

Question 2

Invoice Number would be considered to be __________ because is it summarized by __________.

Accepted Answer

A)  nominal data, proportion 
B)  nominal data, counting 
C)  ordinal data, proportion 
D)  ordinal data, counting 
A)  nominal data, proportion 
B)  nominal data, counting 
C)  ordinal data, proportion 
D)  ordinal data, counting

Question 3

Data from the financial statements would generally be considered to be __________.

Accepted Answer

A)  structured data 
B)  interval data 
C)  unstructured data 
D)  ratio data 
A)  structured data 
B)  interval data 
C)  unstructured data 
D)  ratio data

Question 4

While __________ data classifies categorical items, __________ data ranks categorical items.

Accepted Answer

A)  ordinal; nominal 
B)  nominal; ordinal 
C)  nominal; interval 
D)  ordinal; interval 
A)  ordinal; nominal 
B)  nominal; ordinal 
C)  nominal; interval 
D)  ordinal; interval

Question 5

Since AssetID is a number identifying assets in a fixed asset ledger, it would be considered to be __________.

Accepted Answer

A)  numerical data 
B)  categorical data 
C)  ratio data 
D)  ordinal data 
A)  numerical data 
B)  categorical data 
C)  ratio data 
D)  ordinal data

Question 6

The most appropriate data type for whether or not a product is eligible for Amazon prime shipping would be the use of __________.

Accepted Answer

A)  Y/N Flag 
B)  short text 
C)  number 
D)  currency 
A)  Y/N Flag 
B)  short text 
C)  number 
D)  currency

Question 7

An example of structured data would include __________.

Accepted Answer

A)  blogs 
B)  pictures 
C)  social media 
D)  product reviews 
A)  blogs 
B)  pictures 
C)  social media 
D)  product reviews

Question 8

__________ is data about the data.

Accepted Answer

A)  A data dictionary 
B)  A data map 
C)  A data atlas 
D)  A data summary 
A)  A data dictionary 
B)  A data map 
C)  A data atlas 
D)  A data summary

Question 9

Purchase and returns data would be considered to be __________ data.

Accepted Answer

A)  categorical 
B)  ordinal 
C)  nominal 
D)  interval 
A)  categorical 
B)  ordinal 
C)  nominal 
D)  interval

Question 10

The most appropriate data type for the customer rating for an Amazon product would be a number.

Accepted Answer

A) True 
 B)False

Question 11

Ordinal data ranks or order numerical data.

Accepted Answer

A) True 
 B)False

Question 12

Data noting first, second and third place awards would be considered a form of __________ data.

Accepted Answer

A)  ratio 
B)  ordinal 
C)  numerical 
D)  interval 
A)  ratio 
B)  ordinal 
C)  numerical 
D)  interval

Question 13

Facebook, Twitter and Instagram posts would generally be considered to be __________.

Accepted Answer

A)  structured data 
B)  unstructured data 
C)  numerical data 
D)  ordinal data 
A)  structured data 
B)  unstructured data 
C)  numerical data 
D)  ordinal data

Question 14

Proportion is calculated by taking the number of observations in a category and __________ that number by the grand total of observations in the sample.

Accepted Answer

A)  adding 
B)  multiplying 
C)  dividing 
D)  subtracting 
A)  adding 
B)  multiplying 
C)  dividing 
D)  subtracting

Question 15

Since audit reports come in four types, including an unqualified, qualified, disclaimer, or adverse report, they would be considered __________ data.

Accepted Answer

A)  categorical 
B)  numerical 
C)  ratio 
D)  interval 
A)  categorical 
B)  numerical 
C)  ratio 
D)  interval

Question 16

The terms data catalog and data dictionary are not related to each other.

Accepted Answer

A) True 
 B)False

Question 17

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 __________.

Accepted Answer

A)  ratio data 
B)  counting data 
C)  categorical data 
D)  ordinal data 
A)  ratio data 
B)  counting data 
C)  categorical data 
D)  ordinal data

Question 18

The term "net book value" in the fixed asset ledger is considered to be useful to the preparer and the user because it __________.

Accepted Answer

A)  tells the accountant the amount the asset could be sold at today 
B)  tells the accountant how much was originally paid for the fixed asset 
C)  tells the accountant the depreciation period the assets will be depreciated over 
D)  tells the accountant the remaining value of the fixed asset less total depreciation to date 
A)  tells the accountant the amount the asset could be sold at today 
B)  tells the accountant how much was originally paid for the fixed asset 
C)  tells the accountant the depreciation period the assets will be depreciated over 
D)  tells the accountant the remaining value of the fixed asset less total depreciation to date

Question 19

Transaction_ID would be considered to be __________.

Accepted Answer

A)  ratio data 
B)  categorical data 
C)  ranked data 
D)  ordinal data 
A)  ratio data 
B)  categorical data 
C)  ranked data 
D)  ordinal data

Question 20

If there are 6 transactions on 11/1, 3 transactions on 11/2 and 10 transactions on 11/3, what is the proportion of the 11/1 transactions to the total transactions that occur during the first three days of November?

Accepted Answer

A)  =19/6 
B)  =6/13 
C)  =6/19 
D)  =6/6 
A)  =19/6 
B)  =6/13 
C)  =6/19 
D)  =6/6

In a fixed asset ledger, the net book value of a fixed asset would be a calculated field equal to the original cost less __________.

Invoice Number would be considered to be because is it summarized by .

Data from the financial statements would generally be considered to be __________.

While data classifies categorical items, data ranks categorical items.

Since AssetID is a number identifying assets in a fixed asset ledger, it would be considered to be __________.

The most appropriate data type for whether or not a product is eligible for Amazon prime shipping would be the use of __________.

An example of structured data would include __________.

__________ is data about the data.

Purchase and returns data would be considered to be __________ data.

The most appropriate data type for the customer rating for an Amazon product would be a number.

Ordinal data ranks or order numerical data.

Data noting first, second and third place awards would be considered a form of __________ data.

Facebook, Twitter and Instagram posts would generally be considered to be __________.

Proportion is calculated by taking the number of observations in a category and __________ that number by the grand total of observations in the sample.

Since audit reports come in four types, including an unqualified, qualified, disclaimer, or adverse report, they would be considered __________ data.

The terms data catalog and data dictionary are not related to each other.

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 __________.

The term "net book value" in the fixed asset ledger is considered to be useful to the preparer and the user because it __________.

Transaction_ID would be considered to be __________.

If there are 6 transactions on 11/1, 3 transactions on 11/2 and 10 transactions on 11/3, what is the proportion of the 11/1 transactions to the total transactions that occur during the first three days of November?

Using Data Analytics to Ask and Answer Accounting Questions

Master the Data: an Introduction to Accounting Data

Master the Data: Preparing Data for Analysis

Perform the Analysis: Types and Tools of Data Analyses

Perform the Analysis: Descriptive Analyses

Perform the Analysis: Diagnostic Analyses

Perform the Analysis: Predictive Analytics

Perform the Analysis: Prescriptive Analytics

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Exam 3: Accounting Data Data Types and How They Are Used

In a fixed asset ledger, the net book value of a fixed asset would be a calculated field equal to the original cost less __________.

Invoice Number would be considered to be __________ because is it summarized by __________.

Data from the financial statements would generally be considered to be __________.

While __________ data classifies categorical items, __________ data ranks categorical items.

Since AssetID is a number identifying assets in a fixed asset ledger, it would be considered to be __________.

The most appropriate data type for whether or not a product is eligible for Amazon prime shipping would be the use of __________.

An example of structured data would include __________.

__________ is data about the data.

Purchase and returns data would be considered to be __________ data.

The most appropriate data type for the customer rating for an Amazon product would be a number.

Ordinal data ranks or order numerical data.

Data noting first, second and third place awards would be considered a form of __________ data.

Facebook, Twitter and Instagram posts would generally be considered to be __________.

Proportion is calculated by taking the number of observations in a category and __________ that number by the grand total of observations in the sample.

Since audit reports come in four types, including an unqualified, qualified, disclaimer, or adverse report, they would be considered __________ data.

The terms data catalog and data dictionary are not related to each other.

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 __________.

The term "net book value" in the fixed asset ledger is considered to be useful to the preparer and the user because it __________.

Transaction_ID would be considered to be __________.

If there are 6 transactions on 11/1, 3 transactions on 11/2 and 10 transactions on 11/3, what is the proportion of the 11/1 transactions to the total transactions that occur during the first three days of November?

Using Data Analytics to Ask and Answer Accounting Questions

Master the Data: an Introduction to Accounting Data

Master the Data: Preparing Data for Analysis

Perform the Analysis: Types and Tools of Data Analyses

Perform the Analysis: Descriptive Analyses

Perform the Analysis: Diagnostic Analyses

Perform the Analysis: Predictive Analytics

Perform the Analysis: Prescriptive Analytics

Share the Story

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Invoice Number would be considered to be because is it summarized by .

While data classifies categorical items, data ranks categorical items.