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Questions and Answers
What is one of the benefits of using GenAI in financial accounting?
What is one of the benefits of using GenAI in financial accounting?
- Reducing the speed of calculation
- Improving the accuracy of financial ratios (correct)
- Reducing industry benchmarks
- Increasing the time spent on computations
What can GenAI do to facilitate better decision-making in CVP analysis?
What can GenAI do to facilitate better decision-making in CVP analysis?
- Reduce the number of variables in the analysis
- Generate multiple CVP scenarios with different pricing or cost assumptions (correct)
- Provide a fixed pricing strategy
- Generate a single break-even analysis
What does GenAI provide in financial ratio analysis?
What does GenAI provide in financial ratio analysis?
- Calculations and brief interpretations (correct)
- Only calculations
- Only visualizations
- Only industry averages
What type of graphs does GenAI create in profitability analysis?
What type of graphs does GenAI create in profitability analysis?
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What can GenAI flag in financial statements?
What can GenAI flag in financial statements?
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