Exam 1: Using Data Analytics to Ask and Answer Accounting Questions

Within spreadsheets, ______ are used to automate processes that are repetitive.

Of the options listed below, which is the lowest level of thinking skills in Bloom's Taxonomy?

"Create" is the highest skill in Bloom's Taxonomy.

"Ask the Right Question" is one of the desired skills for accounting professionals, consistent with EY's "The Analytics Mindset".

Of the options listed below, which is the highest level of thinking skills in Bloom's Taxonomy?

There is expected to be 175 _____ of data by 2025.

"Remember" is a higher skill than "Understand" in Bloom's Taxonomy.

Use of a dashboard to track relevant outcomes would be consistent with which component of the AMPS model?

As accountants of the future require higher levels of critical thinking and reasoning skills than what was previously required for accountants, which levels of critical thinking skills as outlined by Bloom's Taxonomy should accountants need to focus?

The third step of the AMPS model is _____.

A visualization may be used to help with which component of the AMPS model?

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

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

In the text, the types of tools mentioned that accountants need to analyze data include spreadsheets, queries, scripting and _____.

A(n) _____ is a tool that allows reorganization and summarization of certain data using crosstabulations without changing the underlying spreadsheet.

Within Excel spreadsheets, the ______ function would be a form of querying.

What type of question is used in finding the level of sales needed to break even?