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Test Bank for Introduction to Data Analytics for Accounting, 2nd Edition by Vernon Richardson|ultimate guide 100% verified. Test Bank for Introduction to Data Analytics for Accounting, 2nd Edition by Vernon Richardson|ultimate guide 100% verified.

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,Data86Analytics86for86Accounting,861e86(Richardson)86C
hapter8618 6 Data86Analytics86in86Accounting86and86Bu
siness

1) Data86analytics86is86the86process86of86evaluating86data86with86the86purpose86of86drawing86c
onclusions86to86address86business86questions.

Answer:8 6 TRUE86D
ifficulty:86186Easy
Topic:8 6 Define86Data86Analytics
Learning86Objective:8 6 01-
0186Define86Data86Analytics.86Bloom's:8 6 Remember
AACSB:8 6 Reflective86Thinking
AICPA:8 6 BB86Industry;86FN86Decision86Making

2) The86process86of86data86analytics86aims86to86transform86raw86information86into86data86to86create8
6value.

Answer:8 6 FALSE86
Difficulty:86186Easy
Topic:8 6 Define86Data86Analytics
Learning86Objective:8 6 01-
0186Define86Data86Analytics.86Bloom's:8 6 Remember
AACSB:8 6 Reflective86Thinking
AICPA:8 6 BB86Industry;86FN86Decision86Making

3) Data86analytics86has86the86potential86to86transform86the86manner86in86which86compani
es86run86their86businesses;86however,86it86is86not86practical86in86the86near86future.

Answer:8 6 FALSE86
Difficulty:86186Easy
Topic:8 6 How86Data86Analytics86Affects86Business
Learning86Objective:8 6 01-
0286Understand86why86Data86Analytics86matters86to86business.86Bloom's:8 6 Rememb
er
AACSB:8 6 Reflective86Thinking
AICPA:8 6 BB86Industry;86FN86Decision86Making

4) Auditors86can86use86social86media86to86hear86what86customers86are86saying86about86a86
company86and86compare86this86to86inventory86obsolescence86and86other86estimates.

Answer:8 6 TRUE86D
ifficulty:86286Medium
Topic:8 6 Financial86Reporting
Learning86Objective:8 6 01-
0386Explain86why86Data86Analytics86matters86to86accountants.86Bloom's:8 6 Understa
nd
1
Copyright86201986©86McGraw-
Hill86Education.86All86rights86reserved.86No86reproduction86or86distribution86without86the86prior86written86con
sent86of86McGraw-Hill86Education.

,AACSB:8 6 Reflective86Thinking
AICPA:8 6 BB86Industry;86FN86Decision86Making

2
Copyright86201986©86McGraw-
Hill86Education.86All86rights86reserved.86No86reproduction86or86distribution86without86the86prior86written86con
sent86of86McGraw-Hill86Education.

, 5) Data86analytics86allows86auditors86to86glean86insights86that86are86beneficial86to86the86cli
ent,86without86breaching86independence.

Answer:8 6 TRUE86D
ifficulty:86286Medium
86Topic:8 6 Auditing
Learning86Objective:8 6 01-
0386Explain86why86Data86Analytics86matters86to86accountants.86Bloom's:8 6 Rememb
er
AACSB:8 6 Reflective86Thinking
AICPA:8 6 BB86Industry;86FN86Decision86Making

6) The86predictive86analytics86is86an86important86aspect86of86data86analytics86for86auditor
s,86but86is86not86applicable86for86tax86accountants.

Answer:86FALSE
86Difficulty:86186E
asy86Topic:8 6 Tax
Learning86Objective:8 6 01-
0386Explain86why86Data86Analytics86matters86to86accountants.86Bloom's:8 6 Und
erstand
AACSB:8 6 Reflective86Thinking
AICPA:8 6 BB86Industry;86FN86Decision86Making

7) The86I86in86IMPACT86Cycle86represents86Identify86the86Question.

Answer:8 6 TRUE86D
ifficulty:86286Medium
Topic:8 6 The86Data86Analytics86Process86Using86the86Impact86Cycle
Learning86Objective:8 6 01-
0486Describe86the86Data86Analytics86Process86Using86the86IMPACT86Cycle.86Bloom's:8 6 Remembe
r
AACSB:8 6 Reflective86Thinking
AICPA:8 6 BB86Industry;86FN86Decision86Making

8) The86M86in86IMPACT86Cycle86represents86Master86the86Data.

Answer:8 6 TRUE86D
ifficulty:86286Medium
Topic:8 6 The86Data86Analytics86Process86Using86the86Impact86Cycle
Learning86Objective:8 6 01-
0486Describe86the86Data86Analytics86Process86Using86the86IMPACT86Cycle.86Bloom's:8 6 Remembe
r
AACSB:8 6 Reflective86Thinking
AICPA:8 6 BB86Industry;86FN86Decision86Making

3
Copyright86201986©86McGraw-
Hill86Education.86All86rights86reserved.86No86reproduction86or86distribution86without86the86prior86written86con
sent86of86McGraw-Hill86Education.

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Vernon J. Richardson, Ryan Teeter, Katie L. Terrell Data Analytics for Accounting

Publisher: 2018 ISBN: 9781260288407 Edition: Unknown

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