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Questions in this quiz (14)
1One of the most valued aspects of accountants is the ability to
- Aperform difficult calculations.
- Bidentify employees committing fraud.
- Cremember financial information.
- Dbe independent and skeptical evaluators of financial information.
2Data analysis results that do not include the most recent data is an example of what type of risk?
- AIncorrect method of analysis
- BTimeliness
- CCompleteness
- DPreparer Bias
3When interpreting data analysis results, which of the following could be a potential analysis risk?
- AMissing relevant data
- BData biases
- CIncorrect method
- DInternal controls
4The process of thinking about how past experiences can be applied to a current data analysis interpretation is which aspect of critical thinking?
- AAlternatives
- BSelf reflection
- CPurpose
- DStakeholder Identification
5If the answer to the question "Does the analysis address the needs/concerns of the stakeholders?" is no, then
- Ait is likely the stakeholders did not understand the problem.
- Bit will likely be acceptable if the numbers are correct.
- Cyou must re-do the same analysis to see if you get different results.
- Dit is likely that a different analysis is needed before you can interpret the results.
6An appropriate analysis to determine how many times an event has occurred would be
- Aa frequency distribution
- Bmeasure of dispersion
- Cmeasure of location
- Dlinear optimization
7An anomaly is
- Aalways an outlier
- Balways eliminated
- Can observation that deviates from what is normal or expected
- DAn indication of fraud
8If the objective is to use historical data to identify patterns, which is the best analysis to use?
- Atrend analysis
- Bfrequency distribution
- Clinear regression
- Dlinear optimization
9In a regression model prepared to predict revenue, which of the following is the correct interpretation of an adjusted R-square of 0.85?
- AThe independent variables in the model can explain 85% of the change in revenue.
- BThe adjusted R-square is too small of a number for us to rely on the model.
- CRevenue will increase by 85% next year.
- DThe dependent variable in the model can explain 85% of the change in independent variables.
10Which is the best tool when the desired result is known, but not the input value for a single variable will achieve that result?
- Agoal seek
- Bdata analysis
- Cscenario manager
- Dlinear regression
11When assessing the reliability of the data analysis results, evaluate whether the
- Ameasures used measure what they are supposed to.
- Bdata used are reasonable.
- Cmeasures used are accurate and consistent.
- Ddata used are timely.
12The goal of predictive analytics is to build a model that
- Acan help predict or better understand a phenomenon in which you are interested.
- Bis not too complicated.
- Ccan identify how frequently a phenomenon has happened in the past.
- Dcan be performed using statistical software.
13A spreadsheet model that allows evaluating how changes to values and assumptions affect an outcome is called a
- Aregression equation.
- Blinear optimization model.
- Cbest guess model.
- Dwhat-if analysis.
14The bookselling industry has been undergoing major transformations from print to digital. Revenue projection reports are a key influencer in maintaining and attracting investors. You are reviewing the most recent revenue projection report before it is released to investors. Which of the following questions relate to a potential data risk that may impact the interpretation of the revenue projection?
- ADoes the analysis include all sales returns and allowances?
- BDoes the analysis include revenue from the most recent reporting period?
- CDoes the analysis include all sales that are based on cash/credit and gift card redemptions?
- DAll of these answer choices are data bias risks.
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- Description
- University acc Quiz on 8, created by Jake Jakes on 16/12/2024.
- Author
- Jake Jakes
- Language
- English
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