ACC300 - FINAL EXAM REVIEW QUESTIONS
WITH VERIFIED SOLUTIONS
Which type of chart is best for categorical data?
- Vertical Bar
- Maps
- Histogram
- Pie chart
Vertical Bar
Which type of chart is best to show a persons' weight over time?
- Line chart
- Vertical bar
- Scatterplot
- Pie chart
Line chart
Big Data
Datasets that are too large and complex for businesses' existing systems, utilizing traditional
capabilities
Which type of chart would best show each division's relative profit within a corporation?
- Pie chart
- Map
- Histogram
- Scatterplot
Pie chart
Which type of chart would best compare hours studied and test scores?
- Scatterplot
- Map
- Histogram
- Vertical bar
Scatterplot
Which type of chart is best for time trend data?
- Line chart
- Maps
- Histogram
- Vertical Bar
Line chart
, Role of data analytics in today's business world
examines data to generate models for predictions of patterns and trends
Four V's of Big Data
Volume, Veracity, Velocity, Variety
Data Analytics
The science of examining raw data, removing excess noise, and organizing it in order to draw
conclusions for decision making
Skillsets used in data analytics?
Acquiring/cleansing data; Creating data structures/models; Mining/analyzing data
Virtuous cycle of machine learning
Input customer purchase data -> Learn pattern -> Predict future purchases
Deep learning
A form of machine learning that involves complex, multilayer neural networks
Blockchain
An open and distributed ledger that can record transactions between two parties efficiently and in
a verifiable and permanent way
Usefulness of Blockchain
- Collaborate w/ shared source of truth
- Accelerate transaction settlement and verification by eliminating intermediaries
- Cuts costs and resources
Components on Blockchain
- Distributed and Decentralized
- Consensus
- Immutability
Impact of Blockchain on Audit and Assurance
Opportunities:
- Continuous audit
- Smart contracts
Challenges:
- illegal, fraudulent, unauthorized transactions
- insufficient information
- complicated protocols
- acquiring skill sets to understand smart contracts
WITH VERIFIED SOLUTIONS
Which type of chart is best for categorical data?
- Vertical Bar
- Maps
- Histogram
- Pie chart
Vertical Bar
Which type of chart is best to show a persons' weight over time?
- Line chart
- Vertical bar
- Scatterplot
- Pie chart
Line chart
Big Data
Datasets that are too large and complex for businesses' existing systems, utilizing traditional
capabilities
Which type of chart would best show each division's relative profit within a corporation?
- Pie chart
- Map
- Histogram
- Scatterplot
Pie chart
Which type of chart would best compare hours studied and test scores?
- Scatterplot
- Map
- Histogram
- Vertical bar
Scatterplot
Which type of chart is best for time trend data?
- Line chart
- Maps
- Histogram
- Vertical Bar
Line chart
, Role of data analytics in today's business world
examines data to generate models for predictions of patterns and trends
Four V's of Big Data
Volume, Veracity, Velocity, Variety
Data Analytics
The science of examining raw data, removing excess noise, and organizing it in order to draw
conclusions for decision making
Skillsets used in data analytics?
Acquiring/cleansing data; Creating data structures/models; Mining/analyzing data
Virtuous cycle of machine learning
Input customer purchase data -> Learn pattern -> Predict future purchases
Deep learning
A form of machine learning that involves complex, multilayer neural networks
Blockchain
An open and distributed ledger that can record transactions between two parties efficiently and in
a verifiable and permanent way
Usefulness of Blockchain
- Collaborate w/ shared source of truth
- Accelerate transaction settlement and verification by eliminating intermediaries
- Cuts costs and resources
Components on Blockchain
- Distributed and Decentralized
- Consensus
- Immutability
Impact of Blockchain on Audit and Assurance
Opportunities:
- Continuous audit
- Smart contracts
Challenges:
- illegal, fraudulent, unauthorized transactions
- insufficient information
- complicated protocols
- acquiring skill sets to understand smart contracts
