Data Analytics for Accounting, 3rd Edition – Richardson, Teeter & Terrell – Complete Test Bank (Chapters 1–9) with Verified Answers

TEST BANK
Data Analytics for Accounting, 3rd Edition
by Vernon Richardson, Chapters 1 – 9

,Chapterm1:mDatamAnalyticsmformAccountingmandmIdentifyingmthem Questions
Chapterm2:mMasteringmthemData

Chapterm3:mPerformingmthemTestmPlanmandmAnalyzingmthemResultsm Chapterm4:
mCommunicatingmResultsmandmVisualizations
Chapterm5:mThemModernmAccountingmEnvironmentm Chapterm
6:mAuditmDatamAnalytics

Chapterm7:mManagerialmAnalytics

Chapterm8:mFinancialmStatementmAnalyticsm Chapterm9:mTax
mAnalytics

,AnswersmarematmthemEndmofmEachmChapter

Chapterm01:
Studentmname:m
1) Datamanalyticsmismthemprocessmofmevaluatingmdatamwithmthempurposemo
fmdrawingmconclusionsm toaddressmbusinessmquestions.
⊚mm true

⊚mm false
2) Themprocessmofmdatamanalyticsmaimsmtomtransformmrawminformationmintomd
atamtomcreatemvalue.
⊚mm true

⊚mm false

3) Datamanalyticsmhasmthempotentialmtomtransformmthemmannerminmwh
ichmcompaniesmrunm theirbusinesses,mhowevermitmismnotmpracticalmin
mthemnearmfuture.
⊚mm true

⊚mm false

4) Auditorsmcanmusemsocialmmediamtomhearmwhatmcustomersmaremsayin
gmaboutmamcompanym andcomparemthismtominventorymobsolescencem
andmothermestimates.
⊚mm true

⊚mm false

5) Datamanalyticsmallowsmauditorsmtomgleanminsightsmthatmarembene
ficialmtomthemclient,m withoutbreechingmindependence.
⊚mm true

⊚mm false

, 6) Thempredictivemanalyticsmismanmimportantmaspectmofmdatamanalytic
smformauditors,mbutmism notapplicablemformtaxmaccountants.
⊚mm true

⊚mm false
7) ThemIminmIMPACTmCyclemrepresentsmIdentifymthemQuestion.
⊚mm true

⊚mm false
8) ThemMminmIMPACTmCyclemrepresentsmMastermthemData.
⊚mm true

⊚mm false
9) ThemPminmIMPACTmCyclemrepresentsmPredictmthemResults.
⊚mm true

⊚mm false
10) ThemAminmIMPACTmCyclemrepresentsmAnalyzemthemData.
⊚mm true

⊚mm false
11) ThemCminmIMPACTmCyclemrepresentsmContinuouslymTrack.
⊚mm true

⊚mm false
12) ThemTminmIMPACTmCyclemrepresentsmTrackmOutcomes.
⊚mm true

⊚mm false