AIS Exam with all Correct & 100% Verified Answers |
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An information system that measures and records accounting transactions and reports them in the
financial statements is called a
A. financial reporting system (FRS)
B. manufacturing system (MS).
C. cost accounting system.
D. enterprise system (ES). ✔Correct Answer-A. financial reporting system (FRS)
2. What is the name of the position for a person responsible for determining information needs of a
business and designing a system to meet those needs?
A. IT auditor
B. Systems analyst
C. Controller
D. Chief information officer ✔Correct Answer-B. Systems analyst
3.The balance sheet account most likely affected by an AIS investment in supply chain management
software would be:
cash and cash equivalents.
inventories.
unearned revenue.
fixed assets. ✔Correct Answer-inventories
4.The software/system that helps make sure the retail firm doesn't have a stockout is:
supply chain management software.
human resource systems.
customer relationship management software.
enterprise systems. ✔Correct Answer-supply chain management software.
5. Data analytics performed to identify the most profitable customers would be most likely to affect
which income statement account?
Cost of goods sold
Revenues
Interest expense
Selling, general, and administrative expenses (SG&A) ✔Correct Answer-Revenues
Big Data is often described by the 4 Vs, or:
volume, velocity, veracity, and variety.
volume, volatility, veracity, and variety.
volume, volatility, veracity, and variability.
volume, velocity, veracity, and variability. ✔Correct Answer-volume, velocity, veracity, and variety.
According to estimates considered in the chapter, up to what percentage of a data analyst's time is
spent cleaning (or scrubbing) the data to be ready for analysis?
, 90 percent
0 percent
20 percent
40 percent ✔Correct Answer-90 percent
The acronym ETL, in the process of readying data for use in data analysis, refers to what three words?
Extrapolate, transform, and learn
Extrapolate, transpose, and load
Extract, transform, and load
Extract, transform, and learn ✔Correct Answer-Extract, transform, and load
Which term is used to describe the science of examining raw data, removing excess noise from the
dataset, and organizing the data with the purpose of drawing conclusions for decision making?
Extract, transform, and load` Audit Analytics
Big Data
Data Analytics ✔Correct Answer-Data Analytics
ADS is a standard format for data files and fields typically needed to support an external audit in a
given financial business process area that was developed by the AICPA. The acronym ADS stands for
what three words?
Accounting Data Specification
Audit Data Standards
Auditor Data Standards
Accounting Data Standards ✔Correct Answer-Audit Data Standards
Which type of question does prescriptive analytics address?
What should we do based on what we expect will happen?
What happened?
Why did it happen?
Will it happen in the future? ✔Correct Answer-What should we do based on what we expect will
happen?
Which type of question does predictive analytics address?
Why did it happen?
Will it happen in the future?
What happened?
What should we do based on what we expect will happen? ✔Correct Answer-Will it happen in the
future?
What type of analytics addresses questions of "Why did it happen"?
Prescriptive analytics
Predictive analytics
Descriptive analytics
Diagnostic analytics ✔Correct Answer-Diagnostic analytics
Latest Version |Already Graded A+
An information system that measures and records accounting transactions and reports them in the
financial statements is called a
A. financial reporting system (FRS)
B. manufacturing system (MS).
C. cost accounting system.
D. enterprise system (ES). ✔Correct Answer-A. financial reporting system (FRS)
2. What is the name of the position for a person responsible for determining information needs of a
business and designing a system to meet those needs?
A. IT auditor
B. Systems analyst
C. Controller
D. Chief information officer ✔Correct Answer-B. Systems analyst
3.The balance sheet account most likely affected by an AIS investment in supply chain management
software would be:
cash and cash equivalents.
inventories.
unearned revenue.
fixed assets. ✔Correct Answer-inventories
4.The software/system that helps make sure the retail firm doesn't have a stockout is:
supply chain management software.
human resource systems.
customer relationship management software.
enterprise systems. ✔Correct Answer-supply chain management software.
5. Data analytics performed to identify the most profitable customers would be most likely to affect
which income statement account?
Cost of goods sold
Revenues
Interest expense
Selling, general, and administrative expenses (SG&A) ✔Correct Answer-Revenues
Big Data is often described by the 4 Vs, or:
volume, velocity, veracity, and variety.
volume, volatility, veracity, and variety.
volume, volatility, veracity, and variability.
volume, velocity, veracity, and variability. ✔Correct Answer-volume, velocity, veracity, and variety.
According to estimates considered in the chapter, up to what percentage of a data analyst's time is
spent cleaning (or scrubbing) the data to be ready for analysis?
, 90 percent
0 percent
20 percent
40 percent ✔Correct Answer-90 percent
The acronym ETL, in the process of readying data for use in data analysis, refers to what three words?
Extrapolate, transform, and learn
Extrapolate, transpose, and load
Extract, transform, and load
Extract, transform, and learn ✔Correct Answer-Extract, transform, and load
Which term is used to describe the science of examining raw data, removing excess noise from the
dataset, and organizing the data with the purpose of drawing conclusions for decision making?
Extract, transform, and load` Audit Analytics
Big Data
Data Analytics ✔Correct Answer-Data Analytics
ADS is a standard format for data files and fields typically needed to support an external audit in a
given financial business process area that was developed by the AICPA. The acronym ADS stands for
what three words?
Accounting Data Specification
Audit Data Standards
Auditor Data Standards
Accounting Data Standards ✔Correct Answer-Audit Data Standards
Which type of question does prescriptive analytics address?
What should we do based on what we expect will happen?
What happened?
Why did it happen?
Will it happen in the future? ✔Correct Answer-What should we do based on what we expect will
happen?
Which type of question does predictive analytics address?
Why did it happen?
Will it happen in the future?
What happened?
What should we do based on what we expect will happen? ✔Correct Answer-Will it happen in the
future?
What type of analytics addresses questions of "Why did it happen"?
Prescriptive analytics
Predictive analytics
Descriptive analytics
Diagnostic analytics ✔Correct Answer-Diagnostic analytics
