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ACCT 4307 Exam 2 questions well answered to pass
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ACCT 4307 Exam 2 questions well answered to pass
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ACCT 4307 Exam 2 questions wellanswered to pass
According to Benford's law, what is the expectation for the percentage of times that the first digit of a
number is a 9? - correct answer ✔✔4.58%
What is an example of a cash reconciling item for an item recorded in the general ledger but not yet
recorded in the bank statement? - correct answer ✔✔Outstanding Checks
Which cash reconciling item could potentially affect either the bank statement or the general ledger? -
correct answer ✔✔Error
Which of the following can potentially find gaps in the check numbers written? - correct answer
✔✔Sequence Check
The 2011 movie Moneyball is an example of _____ analytics applied to the sport of baseball. - correct
answer ✔✔Drill-down, detailed
The appropriate test to compare one sample to another sample to see if one is greater than another in
some way is called a(n) _______. - correct answer ✔✔two-sample t-test of a difference in means
The appropriate test to see if independent variables are related to a dependent variable is called a(n)
_______. - correct answer ✔✔regression
_______ is used to help find vendors that might have a similar address as an employee. - correct answer
✔✔Fuzzy Matching
In fuzzy matching, if an exact match (tolerance = 100%) is required, what is the likely consequence for
finding potential matches? - correct answer ✔✔Only exactly matches, no potential matches
, Management accounting uses variance analysis to explain what and why something happened in the
cost of producing products. It is done by comparing actual outcomes to expected, or standard, costs.
What is the expectation when the price of raw materials unexpectedly increases? - correct answer
✔✔Unfavorable price variance
Where would the company likely get data comparing the salaries of female executives to the salaries of
male executives? - correct answer ✔✔Human Resources System
According to Benford's law, which one of these first digits have a higher probability of occurrence than
the first digit 3? - correct answer ✔✔2
When is Benford's law analysis not useful? - correct answer ✔✔Assets only recorded above a certain
threshold
Analysis of the customer that owes the most would be an example of the diagnostic analytics of
_______. - correct answer ✔✔performing drill-down detailed analytics
Evaluating the relationship between sales and advertising expense would be an example of the
diagnostic analytics of _______. - correct answer ✔✔determining relations/patterns/linkages between
variables through statistical analysis
Computing and evaluating price and quantity variances would be an example of the diagnostic analytics
of _______. - correct answer ✔✔identifying anomalies/outliers
Which predictive analytics technique would be used to predict whether a firm is likely to go bankrupt in
the coming year? - correct answer ✔✔Classification
Which predictive analytics technique would be used to predict the interest rate given from a lender
(bank) to a borrower? - correct answer ✔✔Regression
Would a greater amount of working capital/total assets lead to more bankrupt or less bankrupt firms? -
correct answer ✔✔Less Bankrupt
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