Question
You receive a dataset with missing values in multiple
columns. What is the most effective approach to handle these missing values?Solution
Predictive modeling leverages machine learning algorithms to predict missing values based on the relationship between other features. It is highly accurate and preserves the dataset’s integrity, which is crucial for data-driven analysis. Advanced techniques, like k-Nearest Neighbors or regression imputation, ensure minimal bias and better prediction accuracy compared to simpler methods. Why Other Options Are Wrong : A) Deleting rows reduces the dataset size, leading to loss of valuable information. B) Replacing with column mean ignores data variability and may distort outcomes. C) Leaving missing values untreated can affect the performance of analytical models. E) Adding a new column may highlight missing data but does not address the underlying issue.
Which of the following is a primary objective of auditing?
A sale of Rs. 25,000 to A was entered as a sale to B. This is an example of _
Which of the following best describes analytical procedures as per SA 520?
Client has breached debt covenants; lender issued waiver valid for 9 months after balance sheet date. Auditor notes liquidity support from group company...
Process of verifying the documentary evidences of transactions are known as:
An auditor finds material misstatements due to fraud but the management refuses to take corrective action. What should be the auditor’s next step?
An auditor notices that a bank’s internal controls over loan approvals are weak, but substantive testing of balances shows no material misstatements. ...
________ the audit risks _________ the materiality and _______ the audit effort
Which of the following constitutes the most reliable audit evidence?
Late-year reinsurance treaties significantly reduce reported loss ratio. Which step is most relevant to fraud risk of “window dressing”?