TEST BANK FOR: FOR DATA ANALYTICS FOR ACCOUNTING 3RD EDITION BY VERNON RICHARDSON LATEST UPDATE CHAPTERS 1 – 9

TEST BANK FOR:
FOR DATA ANALYTICS FOR ACCOUNTING 3RD
EDITION BY VERNON RICHARDSON LATEST UPDATE
CHAPTERS 1 – 9

,Chapter 1: Data Analytics For Accounting And Identifying The
Questions
Chapter 2: Mastering The Data

Chapter 3: Performing The Test Plan And Analyzing The Results
Chapter 4: Communicating Results And Visualizations
Chapter 5: The Modern Accounting Environment
Chapter 6: Audit Data Analytics
Chapter 7: Managerial Analytics

Chapter 8: Financial Statement Analytics
Chapter 9: Tax Analytics

,Answers Are At The End Of Each Chapter


Chapter 01:
Student Name:
1) Data Analytics Is The Process Of Evaluating Data With The Purpose Of Drawing
Conclusions Toaddress Business Questions.
⊚ True
⊚ False




2) The Process Of Data Analytics Aims To Transform Raw Information Into Data To Create
Value.
⊚ True
⊚ False




3) Data Analytics Has The Potential To Transform The Manner In Which Companies
Run Theirbusinesses, However It Is Not Practical In The Near Future.
⊚ True
⊚ False




4) Auditors Can Use Social Media To Hear What Customers Are Saying About A
Company Andcompare This To Inventory Obsolescence And Other Estimates.
⊚ True
⊚ False




5) Data Analytics Allows Auditors To Glean Insights That Are Beneficial To The
Client, Withoutbreeching Independence.
⊚ True
⊚ False

, 6) The Predictive Analytics Is An Important Aspect Of Data Analytics For Auditors,
But Is Notapplicable For Tax Accountants.
⊚ True
⊚ False




7) The I In Impact Cycle Represents Identify The Question.
⊚ True
⊚ False




8) The M In Impact Cycle Represents Master The Data.
⊚ True
⊚ False




9) The P In Impact Cycle Represents Predict The Results.
⊚ True
⊚ False




10) The A In Impact Cycle Represents Analyze The Data.
⊚ True
⊚ False




11) The C In Impact Cycle Represents Continuously Track.
⊚ True
⊚ False




12) The T In Impact Cycle Represents Track Outcomes.
⊚ True
⊚ False