CPA › Business Data Analytics › August 2024

CPA Business Data Analytics – August 2024 Past Paper & Answers

Unit: Business Data Analytics

25 Questions

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Questions

Download CPA Business Data Analytics August 2024 past paper with detailed answers and marking scheme. This paper is based on KASNEB examination standards and is ideal for revision and exam preparation.

Access the full paper online, download the PDF, or study offline. Each question includes step-by-step solutions to help you understand key concepts in Business Data Analytics.

Other Business Data Analytics Past Papers

1
​​Which one of the following is the BEST reason why an organisation may avoid cloud computing as a means of data management?

A. Data costs
B. Data scalability
C. Data integrity
D. Data safety 
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2
​​The following are the main examples of data visualisation:

(i) Comparison
(ii) Composition
(iii) Relationship
(iv) Distribution

Which one of the following summarises the order of the examples from simple to complex?
A. Distribution, comparison, composition, relationship
B. Distribution, composition, comparison, relationship
C. Comparison, composition, distribution, relationship
D. Relationship, composition, distribution, comparison
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3
​​The following activities apply to data visualisation:

(i) The format
(ii) The content
(iii) The structure
(iv) The purpose

Which one of the following is the correct order of activities?
A. (iii), (iv), (ii) and (i)
B. (iv), (iii), (i) and (ii)
C. (iii), (ii), (iv) and (i)
D. (iv), (ii), (iii) and (i) 
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4
​​A method of storing data within a system that facilitates collocation of data in various schemata and structural forms is known as __________________.

A. data visualisation
B. data lake
C. big data management
D. deep analytics 
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5
​​The Kenya Data Protection Act requires that a Data Protection Impact Assessment (DPIA) be carried out where a data processing activity creates high risk to the rights and freedoms of a data subject. Which one of the following is an example of high-risk data activity?

A. Customer profiling
B. Customer scoring
C. Customer inquiry
D. Customer feedback 
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6
​​The following statements are on data security and data privacy:

(i) Data security is the process of protecting corporate data and preventing data loss through unauthorised access.
(ii) Data privacy aims to ensure that data is not shared within and outside the organisation.

Which one of the following statements is TRUE?
A. Only statement (i) is correct
B. Only statement (ii) is correct
C. Both statements are correct
D. None of the statements is correct
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7
​​Even when intentions are good, the outcome of data analysis can cause inadvertent harm to individuals or groups of people.In data ethics, this concept is referred to as ____________________.

A. diverse impact
B. disparate impact
C. dissimilar impact
D. contrasting impact
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8
​​According to cross-industry standard process for data mining, data modelling involves:

A. Obtaining data and information from different sources, processing and storing for future reference
B. Fixing or removing incorrect, corrupted, incorrectly formatted data and information
C. Collecting data and information about business requirements from stakeholders and end users
D. Creating a visual representation of either a whole information system or parts of it to communicate connections
between data points and structures 
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9
​​Which one of the following is NOT an array function in Ms Excel?

A. MMULT
B. TRANSPOSE
C. VLOOKUP
D. FREQUENCY
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10
​​Miriam Wambui is the Chief Finance Officer of Zelta Company Limited. She is using data analytics in estimating future risks that the company is facing and also cash budgeting with scenario analysis.

Which one of the following choices is CORRECT?

By carrying out risk management and cash budgeting, the category is classified as __________________.
A. predictive analytics for risk management and cash budgeting
B. predictive analytics for risk management and prescriptive analytics for cash budgeting
C. predictive analytics for cash budgeting and prescriptive analytics for risk management
D. prescriptive analytics for risk management and cash budgeting 
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11
​​Which one of the following is NOT a strategy the data analyst will use in handling missing data to enable data analysis?

A. Drop observations that have missing values
B. Estimate missing value using other observations
C. Assign an integer that will enable the values be processed as null values
D. Highlighting the observation with a tag such as not available 
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12
​​Which one of the following keyboard shortcuts is used to display the “function Arguments” dialog box in Ms Excel?

A. Ctrl + F2
B. Ctrl + Shift + F3
C. Ctrl + Shift + A
D. Ctrl + Shift + #
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13
​​Which one of the following software is NOT used in data visualisation?

A. Python
B. Power BI
C. Tableau
D. Datawrapper
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14
​​Which one of the following is the BEST way to address the issue of transparency in data analytics?

A. Use proprietary algorithms for analysis
B. Only use numerical data for analysis
C. Document the analysis process and results
D. Use a single data source for analysis
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15
​​Which one of the following Ms Excel functions is used to count the number of cells in a range that meet a certain criteria?

A. COUNTA
B. COUNTIF
C. COUNT
D. COUNTBLANK 
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16
Which one of the following software will a data analyst use to clean data?

A. Data stage
B. SQL
C. Tableu
D. Microstrategy 
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17
​​​​​Which one of the following Ms Excel features would allow the creation of a drop-down list of values that users can select from?

A. Trace precedents
B. Data validation
C. Data table
D. Text to column
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18
​​Which one of the following cloud computing platforms is known for its data management and analytics capabilities?

A. Azure
B. AWS
C. IBM Cloud
D. Google Cloud
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19
​​In accounting, which type of analytics is used to detect anomalies or irregularities in financial transactions?

A. Predictive analytics
B. Descriptive analytics
C. Diagnostic analytics
D. Prescriptive analytics
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20
​​Which Ms Excel tool can Alex Mutua use to figure out the interest rate at which he would make monthly payments of Sh.50,000 for the Sh.2 million bank loan he took for 5 years?

A. NPV
B. Vlookup
C. Scenario manager
D. Goal seek
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21
​ ​​Mzalendo Limited is a listed company. The following financial staments relate to year ended 31 December 2023

Statement of Profit or Loss for year ended 31 December 2023
sh.msh.m
Sales710
Cost of Sales(230.00)
Gross Profit480.00
Interest income6.00
486.00
Expenses:
Distribution Costs110.00
Administration Expenses130.00
Finance Costs14.00(254.00)
Profit before tax232.00
Income tax expense(64.00)
Profit after tax168.00
Dividends Paid(40.00)
Retained Profit for the year128.00

Statement of Financial Position as at 31 December
2023 2022
sh.msh.msh.msh.m
Non-current assets:
Property, plant and equipment544.00392.00
Financial Assets at Fair Value through OCI190.000.00
Intangible assets6.008.00
740.00400.00
Current assets:
Inventories280.00330.00
Trade receivables264.00240.00
Interest receivable2.004.00
Cash in hand8.00554.002.00576.00
1,294.00976.00
Ordinary share capital (Ksh.2 per value)240.00220.00
Share premium88.0070.00
Revaluation reserve14.000.00
Retained profits298.00178.00
640.00468.00
Non current liabilities
6% Loan stock40.0080.00
Obligations under finance lease100.00140.0084.00164.00
Current liabilities:
Bank overdraft16.0040.00
Trade payables424.00254.00
Interest payable6.004.00
Obligations under finance lease10.006.00
Current tax58.00514.0040.00344.00
Total Liabilities654.00508.00
1,294.00976.00

Additional information:
1. During the year, the company issued 10 million (sh. 2 per value) ordinary shares at a   price which was 100% above their par value, incurring issue costs of sh. 2 million.
2. During the year, some items of property, plant and equipment were bought under a finance lease amounting to sh. 56 million.  Disposals of assets having a net book value of sh. 38 million realised sh. 42 million. Depreciation charge was sh. 74 million. 
3. Interest on finance leases of sh. 6 million was included in the interest payable charged to the statement of profit or loss

Required:
Statement of cash flows for Wananchi Ltd. for the year ended 31 December 2023 in accordance with IAS 7 (Cash Flow Statements) 
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22
​ ​ ​ ​ ​​
Loan Amount2,000,000
Period of Payment (Years)5
Repayment FrequencyMonthly
Annual Interest Rate11%
Monthly Repayment43,485

(a). Use an appropriate Excel function to confirm to Mkenya that indeed the Monthly Repayment amount given above is correct.

(b)  Prepare a monthly Loan armotisation Scedule for the above loan for Manoti Were to see how the Loan clears by end of time (Have Columns for Period, Monthly Repayment, Principle, Interest, Loan Balance).

(c). As a Customer centric Sacco, Sacco Members are allowed to vary the loan terms to their preferences as long as it is alligned to the  Loan terms. Help Manoti Were to fill the below table with the correct Repayment period and Loan Amount in columns C and D respectively that allows for him to make a monthly Repayment amount of Sh. 35,000 and not the proposed Sh. 43,485

DetailsBank ProposalCharged AmountCD
Loan amount (Sh.)2,000,000-
Term (months)-60
Annual interest rate11%11%
Monthly payment--
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23
​ ​​Folico Manufacturing Limited  produces premium jewellery. The company prepares its budget for the year based on the estimated production and sales of its products. The following budget was prepared  for product "Malkia" for the current month based  on the production of  1,250 units.  However, due to unexpected demand, the company ended up producing 1,500  units. 

Below are the budgeted and actual figures:

Budgeted (for 1,250 units):Sh.''000''
Direct materials27,000
Direct labour25,000
Variable manufacturing overhead12,500
Fixed manufacturing overhead75,000
Variable sales and administration expenses18,000
Fixed sales and administration expenses65,000
Total manufacturing costs222,500

Actual (for 1,500 units):
Direct materials32,000
Direct labour25,000
Variable manufacturing overhead18,000
Fixed manufacturing overhead75,000
Variable sales and administration expenses20,000
Fixed sales and administration expenses65,000
Total manufacturing costs
235,000

Additional Information:
1.  The selling price for product "Malkia" is Sh. 230 per unit.
2.  Where necessary, use the per-unit variable costs derived from the budgeted figures.
3.  Folico Manufaturing Limited has a sales contract to deliver 850 units of product "Malkia" every month.
4.  Folico Manufacturing Limited sales averages 80% of the units produced in any month. This percentage is inclusive of the sales contract units.
5.  Corporation tax rate is 30% payable on realised profit.

Required:
(a)  Prepare a flexible budget for 1,500 units.
(b)  Determine the total flexible budgeted costs for 1,500 units.
(c)  At 1,500 units, compare the flexible budgeted costs with the total actual costs. Using a logical function, identify the  variances as either adverse or favourable. 
(d)  Prepare an income statement for manufacturing levels of 1,000, 2,000 and 2,500 units of product Malkia.
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24
​​As an audit senior at Herufi Audit Firm, you have been made responsible for planning the audit of Lead Team Manufacturing Ltd. for the year ending 31 December 2023.  Below is a summary of key information about LeadTeam Manufacturing Ltd.:

Sh."000"
Revenue75,000
Net income7,250
Total assets85,000
Inventory15,000
Accounts receivable12,000

The accountant at LeadTeam has further provided with you the following list of account balances as at 31 December 2023:
AccountSh."000"
Accounts payable4,500
Accounts receivable27,650
Cash in hand3,000
Inventory (1 January 2023)18,100
Returns outward1,500
Return inwards3,250
Ordinary share capital (Sh.10 par value)12,000
10% preference share capital (Sh.10 par value)5,800
9% long-term debt4,500
Sales150,000
Purchases51,500
Bank overdraft3,000
Discounts received522
Discounts allowed300
Building (cost)64,940
Heavy machinery (cost)10,300
Accumulated depreciation (1 January 2023): Building5,950
Accumulated depreciation (1 January 2023): Heavy Machinery2,100
Audit fees11,262
Administrative expenses4,700
Advertisement expenses1,320
Bad debts written off150
Allowance for doubtful debts (1 January 2023)300
Retained profit (1 January 2023)6,300

1.As at 31 December 2023, accounts receivable balance included Sh.250,000 due from a customer who has been declared bankrupt while accounts payable was found to have been overstated by Sh.150,000.
2.The allowance for doubtful debts is to be adjusted to 3% of the accounts receivable as at 31 December 2023.
3.As at 31 December 2023, there were prepayments of Sh.50,000 and Sh.75,000 towards administrative and advertisment expenses respectively.
For the same period, there was an accrued amount of Sh.120,000 towards audit fees.
4.The company paid the due interest on the long term debt on 7 January 2024.
5.Depreciation is provided as follows:
- Building - 5% per annum on cost
- Heavy Machinery - 10% per annum on reducing balance
6.The company Annual General Meeting resolved that:
- Preference dividend be paid.
- A dividend of 11% on ordinary shares be paid.
- Sh.3 million be transferred to general reserves.
7.The company maintains a gross profit margin of 25%.
8.Having been made aware of significant changes in the ERP System, the CFO position and business routes, you are concerned about the materialityassesment of the audit.

Required:
(a)    Determine the planning materiality for the audit based on the revenue net income and total assets.  Justify your choice of the basis and the percentage used.

(b)   Prepare the original adjustments and adjusted trial balance with the Debit and Credit Columns each (6 Columns).
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25
​ ​ ​​Owing to public outcry on the implementation of various projects across the country, the National Treasury of your country has provided data relating to projects implementationin the past 4 years. The data set comprises Project Focus Areas (Col A:B), Bank Data on Projects (Columns E:G), Projects; detailed  Breakdown (Column J onwards).An economic watchdog organisation has approached you to help analyse the data for purposes of making meaningful deliberations on the data provided. The data is in the next Excel sheet labelled Question 25 data.

Note
The bank statement amounts column shows the disbursement to the project IDs.

Required:
(a)   Using relevant formulas/functions:
       (i)      Fill the appropriate data to the blank columns (M,R,U,V and W).
       (ii)     Calculate:
                I.   The number of power connectivity projects implemented.
                II.  The total amount of money disbursed by the National Treasury.
               III.  The average budget of Social Services projects in Nandi County.

(b)  Create pivot summaries of: 
        (i)    The budget allocated per project.
        (ii)   The amounts disbursed per project focus item.
        (iii)  Project cost and administration cost trend (Showing Years and Months).

(c)  With the summaries in (b) above, create appropriate visualisations with the below focus message:
         (i)   The budget allocated per project - Comparison.
         (ii)  The amounts disbursed per project focus item - Proportionality.
         (iii)  Project cost and administration cost trend (Showing Years and Months) - Trend.
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