ACCT 3007 CH 6 SB | QUESTIONS AND ANSWERS |
100% CORRECT.
Using generally accepted accounting principles (GAAP) as a baseline,
thousands, millions or billions of transactions are ____________ as financial
statements to explain what happened during the relevant accounting period.
Answer - summarized
Which financial statement reveals the resources available for management to
utilize? Answer - Balance Sheet
The _________ to the financial statements describe the inventory method
chosen. Answer - footnote
Descriptive statistics generally are classified as measures of central tendency or
measures of ________ Answer - variability
___________ , medians and modes are all measures of central tendency.
Answer - Means
Financial statements contain many of the counts, totals, sums, averages,
subtotals, minimums and maximums that are needed as part of __________
analytics. Answer - descriptive
Divisions of data observations into four defined intervals based on data values
as a way of comparing the overall data set is known as a _________ Answer -
quartiles
, Which financial statement reveals the changes in retained earnings? Answer -
Statement of Stockholders' Equity
Totals, subtotals, and _________ are all examples of other summary measures
of data. Answer - sums
The 10-K _______ has information beyond the annual report such as
management compensation, board compensation and board member
biographies. Answer - filing
______ analysis typically includes an evaluation of liquidity, solvency,
profitability and efficiency for a company. Answer - Ratio
We define ___________ statistics as brief summaries (or factoids) of a data set
that provide a representation of that data as a whole. Answer - descriptive
__________ analysis provides comparative changes about various financial
statement line items over time. Answer - Horizontal
__________ are most useful as a measure of central tendency when there are
extreme, or skewed, observations. Answer - median
Standard ___________ is a summary measure that shows the extent of
variability for the sample. Answer - deviation
After seeing a graph of past sales performance, it may be easier to forecast
future performance as part of _____ analytics. Answer - predictive
100% CORRECT.
Using generally accepted accounting principles (GAAP) as a baseline,
thousands, millions or billions of transactions are ____________ as financial
statements to explain what happened during the relevant accounting period.
Answer - summarized
Which financial statement reveals the resources available for management to
utilize? Answer - Balance Sheet
The _________ to the financial statements describe the inventory method
chosen. Answer - footnote
Descriptive statistics generally are classified as measures of central tendency or
measures of ________ Answer - variability
___________ , medians and modes are all measures of central tendency.
Answer - Means
Financial statements contain many of the counts, totals, sums, averages,
subtotals, minimums and maximums that are needed as part of __________
analytics. Answer - descriptive
Divisions of data observations into four defined intervals based on data values
as a way of comparing the overall data set is known as a _________ Answer -
quartiles
, Which financial statement reveals the changes in retained earnings? Answer -
Statement of Stockholders' Equity
Totals, subtotals, and _________ are all examples of other summary measures
of data. Answer - sums
The 10-K _______ has information beyond the annual report such as
management compensation, board compensation and board member
biographies. Answer - filing
______ analysis typically includes an evaluation of liquidity, solvency,
profitability and efficiency for a company. Answer - Ratio
We define ___________ statistics as brief summaries (or factoids) of a data set
that provide a representation of that data as a whole. Answer - descriptive
__________ analysis provides comparative changes about various financial
statement line items over time. Answer - Horizontal
__________ are most useful as a measure of central tendency when there are
extreme, or skewed, observations. Answer - median
Standard ___________ is a summary measure that shows the extent of
variability for the sample. Answer - deviation
After seeing a graph of past sales performance, it may be easier to forecast
future performance as part of _____ analytics. Answer - predictive
