Introduction to Accounting Data Analytics and Visualization Quiz Answers

Get All Week Introduction to Accounting Data Analytics and Visualization Quiz Answers

Lesson 1.1 Knowledge Check

Q1. Which of the following statements describes modifications to Pacioli’s three critical skills for merchants? (Select all that apply.)

[expand title=View Answer]
1.The role of cryptocurrency in accounting has started to become important to understand.
2.Mathematics is more important than before and is especially important for forecasting future events and trends.
[/expand]

Q2. Which of the following statements is a reason why people rely too much on data? (Select all that apply.)

[expand title=View Answer]
1.People overestimate the power of data.
2.People have the ability to access more data than they need. 
[/expand]

Q3. Which of the following statements describes how financial accountants can shape how data is used? (Select all that apply.)

[expand title=View Answer]
1.Financial accountants can influence external parties to use data to make investments by capturing the important assumptions under financial statements and summarizing individual transactions into a brief historical snapshot.
2.Financial accountants can encourage the use of relevant data by reporting costs internally in a way to makes it more helpful than if it were reported for external purposes.
[/expand]

Q3. Which of the following types of accounting will closely analyze the evidence to judge whether firms’ financial statements are accurate?

[expand title=View Answer] Auditing accounting[/expand]

Lesson 1.2 Knowledge Check

Q1. Which of the following types of accounting is mainly responsible for keeping costs under control?

[expand title=View Answer] Managerial Accounting  [/expand]

Q2. Which of the following statements represents examples of how financial accountants may improve their efficiency with the use of advanced data analytics skills? (Select all that apply.)

[expand title=View Answer]
1.By analyzing market basket size, customer’s purchase of products, and weather patterns, financial accountants may improve their estimation of bad debts.
2.Financial accountants can evaluate their companies’ performance by analyzing and comparing their companies’ financial statements relative to other companies in the same industry.
3.With the understanding of XBRL, financial accountants can better organize and gather data to communicate relative performance for investors, creditors, and regulators.
[/expand]

Q3. The decisions of systems accountants can influence which of the following things? (Select all that apply.)

[expand title=View Answer]
1.The accuracy of data
2.The extent to which data is protected
3.The availability of data
[/expand]

Introduction to Accountancy Analytics: Quiz

Q1. Which of the following principles that Pacioli proposed is linked to forecasting future trends and events?

[expand title=View Answer] Merchants should be good at mathematics.[/expand]

Q2. Organizational architecture will affect people using data in which of following ways? (Select all that apply.)

[expand title=View Answer]
1.In large organizations where people work independently, people may not use data because they fail to recognize the existence of data.
2.In large organizations, people may over-rely on data because the managers are removed from the front lines.
[/expand]

Q3. Which of the following subdomains in accounting is more likely to be responsible for summarizing accounting transactions during a period of time for users external to an organization?

[expand title=View Answer] Financial Accounting [/expand]

Q4. Which of the following statements does the IRS report on its website? (Select all that apply.)

[expand title=View Answer]
1.The IRS reports the number and types of audits.
2.The IRS maintains a public database on the Statistics of Income in which they report statistical tables from millions of tax returns.
3.The IRS reports the percentage of audits that resulted in no change and additional recommended tax per return.
[/expand]

Q5. Which of the following statements about the influence of managerial accounting is TRUE? (Select all that apply.)

[expand title=View Answer]
1.Managerial accountants can use cost information to minimize the cost of production given multiple constrained resources.
2.Managerial accountants take the lead role in identifying errors in the financial statements, and then working with managers to correct those errors.
[/expand]

Q6. How can big data and advanced analytics help with activity-based costing?

[expand title=View Answer]
1.By helping to estimate the future financial performance of companies based on their current cost data.
2.By organizing costs into cost pools and finding activities for allocating costs in those pools.
[/expand]

Q7. In the US, only large public companies are required to file annual reports to the Securities and Exchange Commission.

[expand title=View Answer] False[/expand]

Q8. Which of the following statements about business reporting language under XBRL is CORRECT? (Select all that apply.)

[expand title=View Answer]
1.Under XBRL, the cost of goods sold is tagged as us-gaap: CostOfGoodsSold.
2.Under XBRL, net income is tagged as us-gaap: NetIncomeLoss.
[/expand]

Q9. Which of the following statements about tax accountants is TRUE? (Select all that apply.)

[expand title=View Answer]
1.Tax accountants may benefit from census data, which reports information by zip code.
2.The area deprivation index may provide insightful information to tax accountants.
[/expand]

Q10. Which of the following statements about the Internet of Things is TRUE?

[expand title=View Answer] The Internet of Things refers to the ability for technology to be embedded and connected via the Internet.[/expand]

Lesson 2.1 Knowledge Check

Q1. Data analytics can shape people’s lives in which of the following ways?

[expand title=View Answer]
1.People are able to receive real-time traffic information to avoid traffic jams.
2.People have access to their health conditions with watches or smartphones.
3.Companies will better understand the changes in customers’ preferences.
4.All of the above
[/expand]

Q2. In making decisions, the tendency to think that the likelihood something will occur is based on how easily it comes to mind refers to which type of bias?

[expand title=View Answer]Availability bias [/expand]

Q3. Which of the following statements is TRUE?

[expand title=View Answer]Anchoring bias may occur when people rely too much on irrelevant numbers to make decisions. [/expand]

Lesson 2.2 Knowledge Check

Q1. Which of the following statements is TRUE? (Select all that apply.)

[expand title=View Answer]
1.The inherent risk is the risk of a misstatement occurring for any reason.
2.Control risk refers to the risk of a material misstatement occurring as a result of insufficient controls or failure to uphold the controls.
[/expand]

Q2. Which of the following statements about deductive and inductive reasoning is TRUE?

[expand title=View Answer] Using deductive reasoning to evaluate an inference, we usually assume the premises are true.[/expand]

Q3. When presenting the results of data analytics to an audience, it’s better to include as much information as possible so the audience can fully appreciate our mindset.

[expand title=View Answer] False[/expand]

Lesson 2.3 Knowledge Check

Q1. Which of the following statements about assembling data is TRUE?

[expand title=View Answer] Assembling data is critical for it directly impacts how questions are solved. [/expand]

Q2. What is a common practice we should perform when evaluating model accuracy?

[expand title=View Answer] We should break the data into at least two datasets, a training dataset and a test dataset. The training dataset is used to create the model, and the test dataset is used to evaluate the accuracy of the model. [/expand]

Q3. Which of following things should you be careful of when presenting results to an audience? (Select all that apply.)

[expand title=View Answer]
1.You should use technical terms whether the audience is familiar with the terms or not.
2.You should not persuade your audience that the results are important but let them make their own decisions.
3.You should persuade your audience that the results are important.
4.You don’t have to pay attention to every detail of data analytics because it will confuse your audience.
[/expand]

Accounting Analysis and an Analytics Mindset: Quiz

Q1. Which of the following statements is TRUE?

[expand title=View Answer] System 2 mentioned in the book Thinking Fast and Slow is slow, effortful, and analytical. [/expand]

Q2. Which of the following risks may take place if the accounting staff’s training is insufficient and complex transactions exist?

[expand title=View Answer]Control risk [/expand]

Q3. Which of the following statements about risks that may take place in accounting is TRUE?

[expand title=View Answer] The detection risk is the risk that a material misstatement will not be discovered by the audit procedures.[/expand]

Q4. If we know what assets and liabilities are, then we can infer the value of owners’ equity with the use of inductive reasoning.

[expand title=View Answer] False[/expand]

Q5. What’s the difference between deductive reasoning and inductive reasoning?

[expand title=View Answer] Inductive reasoning uses observations to create general rules.[/expand]

Q6. Which of the following statements about assembling data is TRUE? (Select all that apply.)

[expand title=View Answer]When the questions are important enough, it may be worth gathering our own data instead of relying on others’ datasets.  [/expand]

Q7. What is the most commonly known data repository?

[expand title=View Answer] Relational database [/expand]

Q8. Which of the following things about advanced analytic techniques is TRUE?

[expand title=View Answer]With advanced analytic techniques, we are able to consider many factors at once.[/expand]

Q9. When presenting the results to an audience, we should not focus on listening to their comments and questions so that we can persuade them that our results are important.

[expand title=View Answer] False[/expand]

Q10. What should we know in order to effectively start framing a question?

[expand title=View Answer]
1.What information is available to use
2.What do we know about our audience?
3.What kind of tools are we going to use?
[/expand]

Lesson 3.2 Knowledge Check

Q1. For data to be relevant, it must possess which of the following characteristics? (Select all that apply.)

[expand title=View Answer]
1.It should be related to the questions.
2.It should be timely.
3.It should be accurate.
4.It should be the right level of granularity.
[/expand]

Q2. Which of the following statements about the SQL and NoSQL structures is TRUE?

[expand title=View Answer] A SQL-structured database refers to a relational database.[/expand]

Q3. What must a tidy data frame have? (Select all that apply.)

[expand title=View Answer]
1.Each column is an observation, and each row is a feature of the observation.
2.Consistent data types and patterns within columns.
[/expand]

Q4. Data dictionaries should have a list of each column name, but it should not include an example of what the data looks like.

[expand title=View Answer] False [/expand]

Lesson 3.4 Knowledge Check

Q1. Which of the following statements about the shape of a data frame is TRUE? (Select all that apply.)

[expand title=View Answer] A long data frame is useful for data visualizations. [/expand]

Q2. Which of the following statements about left joins is TRUE?

[expand title=View Answer] We can still use left joins to add in rows if the items do not exist in the data frame.[/expand]

Q3. What should we do if we want to perform repetitive tasks?

[expand title=View Answer] None of above [/expand]

Data and Its Properties: Quiz

Q1. Which of the following statements is NOT an important feature of relevant data? (Select all that apply.)

[expand title=View Answer] Must be completed[/expand]

 

Q2. The following image depicts which type of database?

[expand title=View Answer]Graph database[/expand]

Q3. XBRL uses non-standardized tags and we can create our own tags if a tag doesn’t exist to accurately describe information.

[expand title=View Answer] False [/expand]

Q4. Which of the following statements is TRUE about a tidy data frame?

[expand title=View Answer]
1.Missing data should not exist.
2.Data types and patterns should be consistent within columns.
3.Rows and columns are not required to have indices or labels.
4. All of above
[/expand]

Q5. When I enter 09831 in Excel and want to display the leading zero, what should I do in order to make sure that Excel does not automatically remove the zero?

[expand title=View Answer] Add a ` in front of the number.[/expand]

Q6. Which of the following statements is TRUE about data dictionaries?

[expand title=View Answer] A readme file, like ReadMe.txt, is a type of data dictionary.[/expand]

Q7. Long data frames are more efficient for storing data, whereas wide data frames are more useful for visualization.

[expand title=View Answer]False[/expand]

Q8. Which of the following statements is TRUE about merging data? 

[expand title=View Answer] The values we are going to join on do not have to be exactly the same. [/expand]

Q9. Which of the following statements is TRUE about summary statistics?

[expand title=View Answer] Summary statistics are also known as descriptive statistics. [/expand]

Lesson 4.1 Knowledge Check

Q1. Which of the following statements is TRUE about data visualization? (Select all that apply.)

[expand title=View Answer]
1.Using data visualization, we should consider what our audience is expecting.
2.We should try to exclude distractions in data visualization.
[/expand]

Q2. Which of the following shapes is usually used to communicate connection?

[expand title=View Answer] Straight line[/expand]

Q3. Which of the following statements is TRUE about building blocks in realizing data visualization?

[expand title=View Answer]
1.The more shapes we use, the better we can deliver information.
2.It is not required to order the elements of our data visualization in a meaningful way. 
3.In order to let the audience better understand the information, we should always use large-sized shapes in data visualization.
[/expand]

Lesson 4.2 Knowledge Check

Q1. Which of the following statements describes the strength of scatter plots? (Select all that apply.)

[expand title=View Answer]
1.Scatter plots can effectively show areas where a lot of overlapping points exist.
2.Scatter plots can effectively show the outliers.
3.Scatter plots can display the variation within data. 
[/expand]

 

Q2. Which of the following statements is TRUE about bar charts?

[expand title=View Answer] A bar chart is good at communicating relative comparisons and distributions among data. [/expand]

Q3. Box plots are efficient in displaying changes in values over time.

[expand title=View Answer] False[/expand]

Lesson 4.3 Knowledge Check

Q1. Which of the following built-in Excel charts cannot correctly show a summary of negative values?

[expand title=View Answer] Bar chart [/expand]

Q2. Which of the following charts is good at communicating intraday and interday patterns in stock market prices?

[expand title=View Answer] Candlestick chart [/expand]

Q3. What is one way to deal with a negative number when creating treemaps? 

[expand title=View Answer] Turn it to a positive number.[/expand]

Data Visualization 1: Quiz

Q1. Which of the following statements is NOT an important visual perception principle that can be applied to data visualization? (Select all that apply.)

[expand title=View Answer] People have unlimited working memory. [/expand]

Q2. Which of the following statements is TRUE about shapes in data visualization?

[expand title=View Answer] Rectangles are often used to represent the total amount. [/expand]

Q3. Which of the following charts cannot effectively show areas where there are a lot of overlapping points?

[expand title=View Answer] Pie chart[/expand]

Q4. Which of the following charts is good at quickly communicating relative comparisons and distributions?

[expand title=View Answer]Bar chart [/expand]

Q5. Which of the following statements is TRUE about box plots?

[expand title=View Answer] A box plot is different from a box and whisker plot. [/expand]

Q6. Which of the following charts are exclusively used in financial and accounting areas? (Select all that apply.)

[expand title=View Answer]
1.Waterfall charts
2.Candlestick charts
[/expand]

Q7. Which of the following statements is TRUE about waterfall charts? (Select all that apply.)

[expand title=View Answer]
1.The bottom of the bar may not start at zero.
2.They are not simply the same as bar charts.
3.Excel’s built-in waterfall charts can correctly show negative summary values.

[/expand]

Q8. Why is a candlestick chart better than a line chart in connecting stock values over time?

[expand title=View Answer] A candlestick chart can show the range of prices during the day.[/expand]

Q9. Which of the following graphs is particularly useful for hierarchical or nested data?

[expand title=View Answer]Treemap [/expand]

Q10. Which of the following statements is TRUE about using sparklines to present multiple plots? 

[expand title=View Answer]Sparklines work well when they are embedded in a table. [/expand]

Lesson 5.2 Knowledge Check

Q1. Which of the following statements is TRUE about Tableau?

[expand title=View Answer] Tableau can automatically convert original column names to a more presentable format in the Field Name.[/expand]

Q2. Which of the following statements about dimensions is TRUE?

[expand title=View Answer]String is a type of dimension. [/expand]

Q3. What should we do when the data point in Tableau is outside the range?

[expand title=View Answer] Remove the outlier point. [/expand]

Q4. What should we do in Tableau if we want one measure to be along the x-axis?

[expand title=View Answer] Drag the measure to column shelf.[/expand]

Lesson 5.4 Knowledge Check

Q1. A faceted chart is a useful alternative to a multiline chart that has lots of overlapping lines.

[expand title=View Answer] True [/expand]

Q2. In combining multiple datasets, if we want to keep the selected data and only bring in new data that matches on the fields that are in the selected, what type of join method(s) should we choose?

[expand title=View Answer] Right join[/expand]

Q3. Which of the following statements is TRUE about the forecast tool in Tableau?

[expand title=View Answer]
1.The forecast tool uses historical trends in time series data to forecast the future.
2.To use the forecast tool, we can click on the Analytics tab and then drag the forecast icon onto the chart.
[/expand]

Q4. Which of the following tools in Tableau enables you to combine a variety of charts into one place?

[expand title=View Answer] Dashboard[/expand]

Data Visualization 2: Quiz

Q1. Which of the following statements is TRUE about data frames in Tableau?

[expand title=View Answer] Tableau can show us the range of all data, not just the visible data.[/expand]

Q2. Which of the following statements is TRUE about dimensions and measures?

[expand title=View Answer] Dates and strings belong to dimensions. [/expand]

Q3. What is TRUE about Tableau?

[expand title=View Answer] The Analytics tab in Tableau enables us to create an average line for charts. [/expand]

Q4. Which of the following charts can group the observations for a measure into bins and then shows the frequency with which observations occur?

[expand title=View Answer]Histogram [/expand]

Q5. In Tableau, what should we do if we want to create a separate box plot for each level of a dimension?

[expand title=View Answer] Move the dimension to the Columns shelf.[/expand]

Q6. In which setting is a left join appropriate to combine datasets together?

[expand title=View Answer] When we want to keep the selected data and only bring in new data that matches on the fields that are in the selected data. [/expand]

Q7. The forecast tool in Tableau looks at any underlying causes of historical changes and then forecasts when those events will occur in the future.

[expand title=View Answer] False [/expand]

Q8. In Tableau, we cannot set the number of clusters we want to group.

[expand title=View Answer] False [/expand]

Q9. Which of the following statements is TRUE about dashboards in Tableau? (Select all that apply.) 

[expand title=View Answer]
1.If we create a chart with a filter, we can remove that filter in a dashboard.
2.We can position the charts in a dashboard at any place we want.
[/expand]

Q10. We can specify how long we want the forecast to be in the Tableau forecast option. 

[expand title=View Answer] True[/expand]

Lesson 6.1 Knowledge Check

Q1. Which of the following statements is NOT a reason why forecasting sales is important in doing business?

[expand title=View Answer] To prevent employees from slacking.[/expand]

Q2. Which of the following statements is TRUE about dealing with data related to time? (Select all that apply.)

[expand title=View Answer]
1.It is important to know how the dates and times are represented in data.
2.A pivot table can help us aggregate all the data into one day.
[/expand]

Q3. If the mean is greater than the median for a column of data, then it suggests that extremely small values exist in the data.

[expand title=View Answer] False [/expand]

Lesson 6.2 Knowledge Check

Q1. Which of the following statements is the CORRECT way to determine if the linear model you created for forecasting is effective?

[expand title=View Answer] Whether we can explain a lot of the variation. [/expand]

Q2. R-squared is the percentage of variation NOT explained by the regression line.

[expand title=View Answer] False [/expand]

Q3. Which of the following statements is TRUE about Significance F in the ANOVA table.

[expand title=View Answer] If the significance F is less than 0.05, then we can conclude that the model does not do a better job of explaining variation relative to the mean.[/expand]

Lesson 6.4 Knowledge Check

Q1. Which of the following statements is TRUE about simple and multiple regression? (Select all that apply.)

[expand title=View Answer]
1.Simple regression is when a single dependent variable is regressed on the independent variable.
2.Multiple regression is when multiple independent variables are regressed on the dependent variable.
[/expand]

Q2. Residuals are the difference between the predicted value of the independent variable and the actual value of the dependent variable.

[expand title=View Answer]False [/expand]

Q3. Which of the following statements is TRUE about adjusted R-squared?

[expand title=View Answer] The adjusted R-squared imposes a penalty for each dependent variable that is added. [/expand]

Analytic Tools in Excel 1: Quiz

Q1. Which of the following problems can be prevented by forecasting sales? (Select all that apply.)

[expand title=View Answer]
1.Managers find they have too many employees scheduled to work.
2.There’s not enough inventory to satisfy customers’ needs.
[/expand]

Q2. Why is aggregating data important in dealing with datasets related to time?

[expand title=View Answer] To determine if data is eligible for analysis. [/expand]

Q3. Which of the following statements is TRUE about descriptive statistics? (Select all that apply.)

[expand title=View Answer]
1.The range of the data is calculated by the maximum minus minimum.
2.The count tells us how many observations are in the data.
[/expand]

Q4. The values of correlation always range from –1 to 1.

[expand title=View Answer] True[/expand]

Q5. Which of the following statements is TRUE about correlation?

[expand title=View Answer] If the points are positively correlated, then they move in the same direction [/expand]

Q6. Which of the following statements is TRUE about regression output?

[expand title=View Answer]The lower the R-squared, the better the regression line explains the variation in the dependent variable. [/expand]

Q7. Which of the following statements is NOT TRUE about regression results? (Select all that apply)

[expand title=View Answer]
1.The p-value tells us the amount of variation in the coefficient estimate.
2.A p-value less than 0.05 means the coefficient is not significantly different from zero. 
[/expand]

Q8. Multiple regression is a powerful tool that reports the common effect of coefficients.

[expand title=View Answer] False [/expand]

Q9. Which of the following statements is NOT true about residuals?

[expand title=View Answer]Residuals cannot help us identify ways to fine-tune the model. [/expand]

Q10. Which of the following things should we consider when performing a regression analysis for forecasting future sales?

[expand title=View Answer]
1.We should consider if there are any other factors that may affect prediction.
2.If the levels of the independent variables are not known or are controllable, then the independent variables can probably be used to make a forecast if necessary.
[/expand]

Lesson 7.1 Knowledge Check

Q1. Why should we consider adding an additional term to the regression function once we see a curvilinear relationship between an independent variable and a dependent variable?

[expand title=View Answer] To allow the regression algorithm freedom to fit parameters to the curve[/expand]

Q2. Which of the following variables is NOT a categorical variable?

[expand title=View Answer]Age [/expand]

Q3. Which of the following statements about regression is TRUE?

[expand title=View Answer] Regression does not require that all of the data be encoded as numeric values.[/expand]

Lesson 7.3 Knowledge Check

Q1. What does the slack column in the Excel solver function tell us?

[expand title=View Answer] How close the final value is to the constraint [/expand]

Q2. What does it suggest if the levels for each of the variables in a complex linear model are binding when using the Solver to maximize a function?

[expand title=View Answer] If we relaxed the boundaries, then we could get a higher maximum value. [/expand]

Q3. Which of the following statements is TRUE about logistic regression? (Select all that apply.)

[expand title=View Answer]
1.Logistic regression is useful for modeling non-binary outcomes.
2.It means that the dependent variable has been transformed by taking the log of the odds ratio.
[/expand]

Q4. A simple, powerful way to evaluate the accuracy of a logistic regression model is the number of observations we are able to predict.

[expand title=View Answer]False [/expand]

Analytic Tools in Excel 2: Quiz

Q1. Which of the following statements is TRUE?

[expand title=View Answer]The inverted U relationship between price and revenue will take place when the decrease in demand outweighs the increase in price. [/expand]

Q2. Which of the following statements is TRUE about categorical variables?

[expand title=View Answer]Categorical variables are also known as qualitative variables. [/expand]

Q3. Which of the following statements is TRUE about nominal and ordinal variables?

[expand title=View Answer] Ordinal variables have meaningful orders. [/expand]

Q4. In performing regression analysis, what should you do when you encounter a nominal variable that doesn’t have a natural rank order?

[expand title=View Answer] Change the nominal variable to a categorical variable.[/expand]

Q5. What should we do if we find that a coefficient in multiple regression is insignificant?

[expand title=View Answer] We should delete it from our regression model to preserve simplicity.[/expand]

Q6. Which of the following statements about probability and odds are true? (Select all that apply.)

[expand title=View Answer]
1.The reference point of odds is the probability of an event happening relative to the probability of alternative events happening.
2.Odds cannot be negative.
[/expand]

Q7. For regression with a categorical dependent variable, the dependent variable is coded as an indicator variable.

[expand title=View Answer]True [/expand]

Q8. We may consider using logistic regression under which of the following situations? 

[expand title=View Answer] The dependent variable is binary.[/expand]

Q9. In logistic regression, why might using the percentage of observations accurately predicted be better than using R-squared to evaluate model performance? (Select all that apply.)

[expand title=View Answer]
1.Easy to communicate
2.It can prevent overfitting
[/expand]

Q10. An efficient way to evaluate the accuracy of a logistic regression model is the number of observations accurately predicted.

[expand title=View Answer] False[/expand]

Lesson 8.1 Knowledge Check

Q1. Which of the following is the first step of recording a macro?

[expand title=View Answer] The first step of recording a macro is to make sure the Developer tab is enabled. [/expand]

Q2. Which of the following statements is true about the IDE (integrated development environment) that is included with Excel? (Select all that apply.)

[expand title=View Answer]
1.Excel’s IDE is called Visual Basic Editor, and it’s included with Excel.
2.The code window in Excel’s IDE is where we see the code that’s generated when the macro is recorded.
[/expand]

Q3. Every time we create our own visual basic code in Excel, it starts with the statement “Sub “and ends with “End sub.”

[expand title=View Answer] True[/expand]

Lesson 8.2 Knowledge Check

Q1. Which of the following statements is TRUE about for loops?

[expand title=View Answer]Loops can help reduce the amount of code that is needed to perform a task.[/expand]

Q2. Which of the following statements is NOT TRUE about data programming?

[expand title=View Answer] In order to make sure our work progresses, it’s better to code a full program all at once. [/expand]

Q3. If-then-else statements enable us to specify what should happen for each situation.

[expand title=View Answer] True[/expand]

Lesson 8.3 Knowledge Check

Q1. When VBA was used to create histograms for all of the columns of data, why was it important to break of a for loop based on a conditional statement?

[expand title=View Answer] To speed up the process of Excel creating chartsTo speed up the process of Excel creating charts [/expand]

Q2. Machine learning algorithms are often broken down into a supervised category and an unsupervised category, and supervision is only required for the supervised category.

[expand title=View Answer] False [/expand]

Q3. In performing k-means clustering by hand, what is the first thing we should do?

[expand title=View Answer] Create some rows underneath the data where we can track the coordinates of the data.[/expand]

Q4. In clustering our observations, why are data values often scaled so that all the values fall between 0 and 1 for every column of data?

[expand title=View Answer] To allow each column to have equal influence on how the clusters are formed [/expand]

Automation in Excel: Quiz

Q1. Which of the following statements about macro is TRUE?

[expand title=View Answer] We are allowed to add a description to the macro.[/expand]

Q2. Which of the following statements is NOT true about the five windows in Excel’s IDE, Visual Basic Editor (VB)?

[expand title=View Answer] The project window only displays the project we are working on.[/expand]

Q3. Which of the following statements is/are TRUE about the text in VB? (Select all that apply.)

[expand title=View Answer]
1.The blue text refers to code that has intrinsic meaning in VBA language.
2.The red text refers to code that is syntactically wrong. 
[/expand]

Q4. Which of the following statements is the CORRECT way to define a variable “i” in VBA? 

[expand title=View Answer] Type “Dim i As” and then the data type name.[/expand]

Q5. We can use undo for changes performed by a macro.

[expand title=View Answer]True [/expand]

Q6. In unsupervised learning, we do not need the presence of a group label since we let algorithms tell us which group our observations fall into.

[expand title=View Answer] True[/expand]

Q7. Which of the following statements about clustering is TRUE?

[expand title=View Answer]In K-means clustering, the algorithm assigns each observation to a cluster based on the distance between the observation and the cluster centroids. [/expand]

Q8. Euclidean distance is often used to calculate the distance of each observation from each centroid, based on a distance formula derived from the Newtonian Theorem (a squared – b squared = c squared). 

[expand title=View Answer] True [/expand]

Q9. Which of the following statements correctly describes the function AVERAGEIF(C10:C20, 1, D10:D20)?

[expand title=View Answer] For those values in cells C10 C20, if their value is equal to 1, then take the average of their corresponding values in cells D10 to D20. [/expand]

Q10. Which of the following statements is NOT an issue we may see in clustering?

[expand title=View Answer] If we add more columns, the columns that have larger values are going to dominate how the clusters are formed. [/expand]

 

Conclusion:

In summary, the “Introduction to Accounting Data Analytics and Visualization Quiz Answers” serve as a valuable tool for enhancing your understanding of this critical aspect of accounting. By accessing these answers, you can confidently approach the quiz, solidify your knowledge in accounting data analytics, and gain essential skills for success in the field.

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