SOLUTION,MANUAL
Data,Analytics,for,Accounting,,3rd,Edition
by,Vernon,Richardson,,Chapters,1,-,9
1
,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,Visualizati
ons
Chapter,5:,The,Modern,Accounting,Environment, Chapter,6:,Audit,Data,Analyt
ics
Chapter,7:,Managerial,Analytics
Chapter,8:,Financial,Statement,Analytics, Chapter,9:,Tax,Analytics
2
,Solutions,Manual,–,Chapter,1
Solutions,to,Multiple,Choice,Questions
1. (LO,1-1),Big,Data,is,often,described,by,the,four,Vs,,or
a. volume,,velocity,,veracity,,and,variability.
b. volume,,velocity,,veracity,,and,variety.
c. volume,,volatility,,veracity,,and,variability.
d. variability,,velocity,,veracity,,and,variety.
Answer:,b
2. LO,1-
4),Which,data,approach,attempts,to,assign,each,unit,in,a,population,into,a,small,set, ofclasses,(o
r,groups),where,the,unit,best,fits?
a. Regression
b. Similarity,matching
c. Co-occurrence,grouping
d. Classification
Answer:,d
3. (LO,1-
4),Which,data,approach,attempts,to,identify,similar,individuals,based,on,data, knownabo
ut,them?
a. Classification
b. Regression
c. Similarity,matching
d. Data,reduction
Answer:,c
4. (LO,1-4),Which,data,approach,attempts,to,predict,connections,between,two,data,items?
a. Profiling
b. Classification
c. Link,prediction
d. Regression
3
, Answer:,c
5. (LO,1-
6),Which,of,these,terms,is,defined,as,being,a,central,repository,of,descriptions,for,all,of, the,data,attr
ibutes,of,the,dataset?
a. Big,Data
b. Data,warehouse
c. Data,dictionary
d. Data,Analytics
Answer:,c
6. (LO,1-5),Which,skills,were,not,emphasized,that,analytic-minded,accountants,should,have?
a. Developed,an,analytics,mindset
b. Data,scrubbing,and,data,preparation
c. Classification,of,test,approaches
d. Statistical,data,analysis,competency
Answer:,c
7. (LO,1-5),In,which,areas,were,skills,not,emphasized,for,analytic-minded,accountants?
a. Data,quality
b. Descriptive,data,analysis
c. Data,visualization,and,data,reporting
d. Data,and,systems,analysis,and,design
Answer:,d
8. (LO,1-4),The,IMPACT,cycle,includes,all,except,the,following,steps:
a. perform,test,plan.
b. visualize,the,data.
c. master,the,data.
d. track,outcomes.
Answer:,b
9. (LO,1-4),The,IMPACT,cycle,specifically,includes,all,except,the,following,steps:
a. data,preparation.
b. communicate,insights.
c. address,and,refine,results.
d. perform,test,plan.
4
Data,Analytics,for,Accounting,,3rd,Edition
by,Vernon,Richardson,,Chapters,1,-,9
1
,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,Visualizati
ons
Chapter,5:,The,Modern,Accounting,Environment, Chapter,6:,Audit,Data,Analyt
ics
Chapter,7:,Managerial,Analytics
Chapter,8:,Financial,Statement,Analytics, Chapter,9:,Tax,Analytics
2
,Solutions,Manual,–,Chapter,1
Solutions,to,Multiple,Choice,Questions
1. (LO,1-1),Big,Data,is,often,described,by,the,four,Vs,,or
a. volume,,velocity,,veracity,,and,variability.
b. volume,,velocity,,veracity,,and,variety.
c. volume,,volatility,,veracity,,and,variability.
d. variability,,velocity,,veracity,,and,variety.
Answer:,b
2. LO,1-
4),Which,data,approach,attempts,to,assign,each,unit,in,a,population,into,a,small,set, ofclasses,(o
r,groups),where,the,unit,best,fits?
a. Regression
b. Similarity,matching
c. Co-occurrence,grouping
d. Classification
Answer:,d
3. (LO,1-
4),Which,data,approach,attempts,to,identify,similar,individuals,based,on,data, knownabo
ut,them?
a. Classification
b. Regression
c. Similarity,matching
d. Data,reduction
Answer:,c
4. (LO,1-4),Which,data,approach,attempts,to,predict,connections,between,two,data,items?
a. Profiling
b. Classification
c. Link,prediction
d. Regression
3
, Answer:,c
5. (LO,1-
6),Which,of,these,terms,is,defined,as,being,a,central,repository,of,descriptions,for,all,of, the,data,attr
ibutes,of,the,dataset?
a. Big,Data
b. Data,warehouse
c. Data,dictionary
d. Data,Analytics
Answer:,c
6. (LO,1-5),Which,skills,were,not,emphasized,that,analytic-minded,accountants,should,have?
a. Developed,an,analytics,mindset
b. Data,scrubbing,and,data,preparation
c. Classification,of,test,approaches
d. Statistical,data,analysis,competency
Answer:,c
7. (LO,1-5),In,which,areas,were,skills,not,emphasized,for,analytic-minded,accountants?
a. Data,quality
b. Descriptive,data,analysis
c. Data,visualization,and,data,reporting
d. Data,and,systems,analysis,and,design
Answer:,d
8. (LO,1-4),The,IMPACT,cycle,includes,all,except,the,following,steps:
a. perform,test,plan.
b. visualize,the,data.
c. master,the,data.
d. track,outcomes.
Answer:,b
9. (LO,1-4),The,IMPACT,cycle,specifically,includes,all,except,the,following,steps:
a. data,preparation.
b. communicate,insights.
c. address,and,refine,results.
d. perform,test,plan.
4
