Data Mining Is the Process of Searching for Patterns in the Data

question 23

True/False

Data mining is the process of searching for patterns in the data in a data warehouse and to analyze the patterns for decision making.

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Definitions:

Petty Cash Fund

A small amount of cash kept on hand within a business for minor and immediate expenses.

Internal Control

Initiatives and standards implemented by a firm to assure the correctness of financial and accountancy details, encourage integrity, and obstruct fraudulent activities.

Journal Entries

The method by which all business transactions are initially recorded, using a system of debits and credits, to maintain the financial records of an entity.

Segregation Of Duties

A key internal control that prevents fraud and errors by ensuring that no single individual has control over all aspects of a financial transaction.