Question 1

Companies keep track of both tangible and intangible assets. They keep track of _______ assets using the fixed asset subsidiary ledger.

Accepted Answer

A)  tangible 
B)  intangible 
C)  current 
D)  noncurrent

Question 2

Managerial accounting systems generally include _________ which require a forecast of ______.

Accepted Answer

A)  budgets; sales 
B)  earnings; sales 
C)  personnel hiring plans; earnings 
D)  a plan for loan repayment; cash

Question 3

Data with greater veracity is often more impactful, carrying more weight in analysis than data with lesser veracity in addressing accounting questions.

Accepted Answer

A) True 
 B)False

Question 4

____________ includes information on active and inactive vendors and the orders made to date.

Accepted Answer

A)  Customer relationship management system 
B)  Supply chain system 
C)  Human resource system 
D)  Data support system

Question 5

________ accounting is information directed to external users, such as stockholders, banks, and suppliers; in contrast _____ accounting is used internally by the CEO, CFO, controller, budget officers, etc.

Accepted Answer

A)  Management; financial 
B)  External; management 
C)  Financial; internal 
D)  Financial; management

Question 6

Which required section in a form 10-K is likely to represent unstructured data?

Accepted Answer

A)  Risk Factors 
B)  Management's Discussion and Analysis 
C)  Selected Financial Data 
D)  Financial Statements and Supplemental Data

Question 7

Which term refers to a required annual submission to the Securities and Exchange Commission reporting a company's financial performance.

Accepted Answer

A)  10-K 
B)  10-Q 
C)  8-K 
D)  S-1

Question 8

An earnings call is a conference call between company management (like a CEO and CFO), analysts, investors, and the media to discuss earnings and other financial results that generally precede the call.

Accepted Answer

A) True 
 B)False

Question 9

Whereas ______________ would generally be considered to unstructured data, _____________ would generally be considered to be structured data.

Accepted Answer

A)  financial statements; product reviews 
B)  analyst reports; financial statements 
C)  Instagram pictures; financial statements 
D)  Firm budget, geographic images

Question 10

Estimates suggest that approximately 80 percent of enterprise data is structured.

Accepted Answer

A) True 
 B)False

Question 11

Eric Schmidt, CEO of Google says, "Every _____ days we now create as much information as we did from the dawn of civilization up until 2003."

Accepted Answer

A)  two 
B)  three 
C)  six 
D)  nine

Question 12

Which term refers to a required quarterly submission to the Securities and Exchange Commission reporting a company's financial performance.

Accepted Answer

A)  10-K 
B)  10-Q 
C)  8-K 
D)  S-1

Question 13

Highlighting the difference between the data which comes from blogs and pictures as compared to financial data would be examples of which aspect of Big Data?

Accepted Answer

A)  Volume 
B)  Veracity 
C)  Velocity 
D)  Variety

Question 14

A ______ ledger details information on specific accounts with common characteristics.

Accepted Answer

A)  detailed 
B)  general 
C)  specialized 
D)  subsidiary

Question 15

___________ represent an interactive question-and-answer session between investors, analysts, other interested shareholders and management.

Accepted Answer

A)  The management discussion and analysis as part of the 10-K 
B)  Conference call transcripts 
C)  Press releases 
D)  SEC form 8-K

Question 16

According to the text, PWC, a Big 4 accounting firm, asks its auditors to develop all of the following skills except the ability to:

Accepted Answer

A)  research and identify anomalies and risk factors in underlying data 
B)  mine new sources of data 
C)  process-mine using new data analysis techniques and algorithms 
D)  identify questions that will impact accounting estimates

Question 17

This computer standard allows an easy, automated exchange between a financial statement repository and a financial statement user.

Accepted Answer

A)  XBRL 
B)  EDGAR 
C)  Excel 
D)  Google financials

Question 18

The Four V's associated with big data include all except which of the following:

Accepted Answer

A)  Volume 
B)  Veracity 
C)  Velocity 
D)  Variability

Question 19

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

Accepted Answer

A)  Company Statement of Cash Flows 
B)  Naming of a new CFO 
C)  Management discussion and analysis 
D)  Overview of a company's main risks

Question 20

EDGAR, the SEC repository of SEC forms, stands for _______.

Accepted Answer

A)  Electronic Data Gathering, Analysis Repository system 
B)  Electronic Data Gathering and Archive Retrieval system 
C)  Electronic Data Gathering, Analysis and Retrieval system 
D)  Electronic Data Gathering, Analysis Resource system

Exam 2: Master the Data: an Introduction to Accounting Data

Companies keep track of both tangible and intangible assets. They keep track of _______ assets using the fixed asset subsidiary ledger.

Managerial accounting systems generally include ___ which require a forecast of .

Data with greater veracity is often more impactful, carrying more weight in analysis than data with lesser veracity in addressing accounting questions.

____________ includes information on active and inactive vendors and the orders made to date.

____ accounting is information directed to external users, such as stockholders, banks, and suppliers; in contrast _ accounting is used internally by the CEO, CFO, controller, budget officers, etc.

Which required section in a form 10-K is likely to represent unstructured data?

Which term refers to a required annual submission to the Securities and Exchange Commission reporting a company's financial performance.

An earnings call is a conference call between company management (like a CEO and CFO), analysts, investors, and the media to discuss earnings and other financial results that generally precede the call.

Whereas __ would generally be considered to unstructured data, _ would generally be considered to be structured data.

Estimates suggest that approximately 80 percent of enterprise data is structured.

Eric Schmidt, CEO of Google says, "Every _____ days we now create as much information as we did from the dawn of civilization up until 2003."

Which term refers to a required quarterly submission to the Securities and Exchange Commission reporting a company's financial performance.

Highlighting the difference between the data which comes from blogs and pictures as compared to financial data would be examples of which aspect of Big Data?

A ______ ledger details information on specific accounts with common characteristics.

___________ represent an interactive question-and-answer session between investors, analysts, other interested shareholders and management.

According to the text, PWC, a Big 4 accounting firm, asks its auditors to develop all of the following skills except the ability to:

This computer standard allows an easy, automated exchange between a financial statement repository and a financial statement user.

The Four V's associated with big data include all except which of the following:

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

EDGAR, the SEC repository of SEC forms, stands for _______.