Question 1

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.E) A) and B)
F) B) and C)

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.E) A) and B)
F) None of the above

Question 3

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.E) A) and B)
F) A) and C)

Question 4

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.E) A) and B)
F) All of the above

Question 5

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.E) A) and D)
F) All of the above

Question 6

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

Accepted Answer

A)  Descriptive.
B)  Diagnostic.
C)  Predictive.
D)  Prescriptive.E) A) and B)
F) A) and C)

Question 7

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.E) A) and B)
F) A) and C)

Question 8

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 9

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+%.E) A) and C)
F) A) and B)

Question 10

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.E) A) and B)
F) B) and D)

Question 11

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.E) B) and C)
F) A) and B)

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

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.E) A) and B)
F) A) and C)

Question 14

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 15

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.E) C) and D)
F) None of the above

Question 16

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.E) A) and B)
F) B) and D)

Question 17

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.E) A) and B)
F) All of the above

Question 18

Data analytics is used to publish historical information.

Accepted Answer

A) True 
 B)False

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

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Data analytics is used to publish historical information.

Correct Answer
verified

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

Correct Answer
verified

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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Data analytics is used to publish historical information.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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