While Accountants Don't Need to Become Data Scientists,they Must Know

question 2

Multiple Choice

While accountants don't need to become data scientists,they must know how to do the following except?

• A) Clearly articulate the business problem the company is facing
• B) Communicate with the data scientists about specific data needs and understand the underlying quality of the data
• C) Build a data repository
• D) Comprehend the process needed to clean and prepare the data before analysis

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Definitions:

Price Floor

A government or group-imposed price control or limit on how low a price can be charged for a product. It is aimed at preventing prices from being too low.

Shortage

refers to a situation where the demand for a product or service exceeds the supply available at a specific price.

Surplus

The condition where quantity supplied exceeds quantity demanded, often leading to a decrease in prices.

Price Ceiling

A legally established maximum price that can be charged for a product or service, often set by government to prevent prices from reaching too high levels.