ACCT 3130 FINAL EXAM QUESTIONS WITH CORRECT ANSWERS LATEST UPDATE 2026

ACCT 3130 FINAL EXAM QUESTIONS WITH CORRECT ANSWERS LATEST UPDATE 2026 standardized metrics are useful to help XBRL data more comparable because: - Answers companies use similar XBRL tags for similar accounts As opposed to vertical analysis, horizontal analysis: - Answers show the change in value of an account from one period to the next As opposed to horizontal analysis, vertical analysis: - Answers shows the proportional value of accounts to a primary account, like sales revenue on an income statement The DuPont method evaluates all but the following ratios as part of its analysis? - Answers Liquidity The acid-test ratio is an example of which type of ratio? - Answers Liquidity ratio Total asset turnover ratio is an example of which type of ratio? - Answers activity ratio Accounts receivable turnover ratio is an example of which type of ratio? - Answers activity ratio Solvency ratios measure - Answers a firm's ability to pay their debts and stay in business Profitability ratios measure - Answers a firm's ability to generate earnings relative expenses activity ratios measure - Answers a firm's operating efficiency Digital dashboards would be an example of which component of the IMPACT model? - Answers Tract Outcomes An analysis of favorable and unfavorable price variances would be an example of _______ analytics. - Answers diagnostic ________ analytics would be used to plan for future analysis as part of management accounting. - Answers Predictive _______ analysis is used to evaluate the fixed and variable components of mixed costs - Answers Regression In a balanced scorecard, ________ should be achievable goals toward which to move the metric. - Answers Targets Which of the following is an example of a financial performance KPI? - Answers Economics value added Which of the following statements is an example of an operational KPI? - Answers Overall equipment effectiveness Waste reduction rate is which of the following types of KPI? - Answers Environmental and social sustainability Customer retention rate is which of the following types of KPI? - Answers Customer Operating profit margin is which of the following types of KPI? - Answers Financial performance Which of the following is NOT true about crafting a written communication? - Answers Take the opportunity to intruduce new acronyms and jargon to your audience Which chart work best for depicting progression over time? - Answers Line Chart Which chart work best for depicting proportion? - Answers Pie Chart and Stacked Bar Chart Which type of data and visualizations are used for gaining insights and generating ideas while interacting with your date? - Answers Exploratoy Which type of data and visualizations are used for presenting findings to your audience and are more often associated with traditional data visualizations? - Answers Declarative After completing your data analysis, the write-up should include a discussion of which of the following: - Answers All steps of the IMPACT model ______ is more complex than ______ - Answers Quantitative data; Qualitative data Which type of chart best described as useful for identifying the correlation between two variables, for identifying a trend line, or line of best fit? - Answers Scatter plots Which type of chart is preferred for when quartiles, median, and outliers are required for analysis and insights? - Answers Box and Whisker plots The following chart types are preferred for depicting qualitative data except: - Answers Line Chart ______ are existing data that have been manually evaluated and assigned a class and ____ are existing data used to evaluate the model. - Answers Training data: Test date One of the key tasks of auditors of a bank is to consider the amount of the loan loss reserve. When developing a model to estimate the current year's loan loss reserve amount, which of the following would be least likely to be included as an independent variable? - Answers Original loan approval Understanding and predicting warranty expense is an important determination for manufacturing firms. When using historical claims data to estimate the current period's warranty expense, the historical claims data represents which of the following: - Answers Independent Variable Regression analysis typically involves the following steps except: - Answers Set boundaries or thresholds Unaware of data analysis tools available to the internal auditors, a store employee frequently processes cash returns without a receipt for $99, which is just below the amount requiring manager approval of $100. An analysis using which of the following would likely (and quickly) identify the employee's fraudulent behavior. - Answers Benford's Law _____ refers to data that are stored in a database or spreadsheet that is readily searchable - Answers Structured data Data reduction typically involves the following steps except: - Answers Identify the parameters of the model Retail often request customers' zip codes at the end of a sales transaction. This is an example of which data approach? - Answers Clustering Using social media to look for relationships between related parties that are not otherwise disclosed to identify related party transactions is an example of _______. - Answers Link prediction Which of the following best describes an unsupervised approach to the evaluation data? - Answers Data exploration looking for potential patterns of interest There are many times when using SQL is the best option for extracting data, but sometimes it is not preferred. Which of the following is an example of when SQL would not be a preferred method of data extraction? - Answers When the data is already stored in Excel Which of the following is NOT true regarding primary keys? - Answers The purpose of the primary key is to uniquely identify each column in a table. Which of the following describes a means of maintaining all of your data in one place, instead of across different related tables? - Answers Flat File There are a variety of methods that you could take to retrieve the data, including SQL. What does SQL stand for? - Answers Structured Query Langauge