1: Which of the following best describes AI ?

A database system for storing large dataset.
A set of tools for conducting manual statistical analysis
The simulation of human intelligence by machines.
A hardware component used in Robotics.
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2: WHich accounting task is most commonly automated using AI?

Strategic Planning.
Tax Law Preparation.
Invoice Data Extraction and Categorisation.
Hiring New Staff
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3: Which of the following AI regulations was adopted by the EU in 2024 ?

General AI Treaty
EU AI Act
AI Governance Framework
Artificial Intelligence Protection Protocol
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4. According to McKinsey's 2023 Global Survey, what percentage of companies reported adopting at least one AI capability in their business?

12%
27%
55%
72%
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5. What is a major ethical concern with AI in financial reporting and auditing ?

Lack of data storage.
Reduced electricity use.
Algorithm bias and lack of transparency.
Overreliance on Paper Records.
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