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# Final Exam study (All Chapters).

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Chapter 1 1. What is used in Excel to compute total debits and total credits from the transactions? --- PivotTable. 2. What is used in Excel to compute Net Debits and Net Credits? --- Calculated Fie... lds, Items and Sets. 3. Which asset, in the normal course of business, should not have a credit balance as shown in the trial balance? --- Prepaid insurance 4. What is the calculation for the Net Credits computation in the Calculated Fields, Items and Sets? IF(Credit>Debit, Credit − Debit) 5. In a trial balance, the total debits should equal total credits? --- True 6. A trial balance includes accounts from the _____ and ________. --- Income statement and balance sheet. 7. What is the calculation for the Net Debits computation in the Calculated Fields, Items and Sets? IF(Debit>Credit, Debit − Credit) 8. Which is the lowest level of skills in Bloom’s Taxonomy? --- Remember 9. Which is the highest level of skills in Bloom’s Taxonomy? --- Create 10. Which is the appropriate ordering of skills in Bloom’s Taxonomy, where the “>” symbol means higher order skills? --- Create > Analyze 11. Which component of the AMPS model most appropriately addresses the axiom, “Your data won’t speak unless you ask it the right data analytics questions”? --- Ask the Question 12. Which component of the AMPS model most appropriately addresses the question of the best way to communicate data analytics findings with a decision maker? --- Share the Story 13. What type of question is predicting whether a company will go bankrupt in the coming two years? --- Will it happen in the future? What is the probability something will happen? Is it forecastable? 14. What type of question is choosing to take certain tax deductions based on the way managers believe tax legislation will change in the near future? --- What should we do based on what we expect will happen? How do we optimize our performance based on potential constraints? 15. What type of question is finding the detail to more clearly understand why net income is decreasing when revenues are increasing? --- Why did it happen? What are the root causes of past results? [Show More]

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