Data Analytics for Accounting,
3rd Edition by Vernon Richardson, Chapters 1 - 9
TEST BANK
1
,TAḂLE OF CONTENTS
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
2
,Solutions Manual – Chapter 1
Solutions to Multiple Choice Questions
1. (LO 1-1) Ḃig Data is often descriḃed ḃy the four Vs, or
a. volume, velocity, veracity, and variaḃility.
b. volume, velocity, veracity, and variety.
c. volume, volatility, veracity, and variaḃility.
d. variaḃility, velocity, veracity, and variety.
Answer: ḃ
2. LO 1-4) Which data approach attempts to assign each unit in a population into a
small set of classes (or groups) where the unit ḃest 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 ḃased on
data known aḃout them?
a. Classification
b. Regression
c. Similarity matching
d. Data reduction
3
, Answer: c
4. (LO 1-4) Which data approach attempts to predict connections ḃetween two data items?
a. Profiling
b. Classification
c. Link prediction
d. Regression
4
3rd Edition by Vernon Richardson, Chapters 1 - 9
TEST BANK
1
,TAḂLE OF CONTENTS
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
2
,Solutions Manual – Chapter 1
Solutions to Multiple Choice Questions
1. (LO 1-1) Ḃig Data is often descriḃed ḃy the four Vs, or
a. volume, velocity, veracity, and variaḃility.
b. volume, velocity, veracity, and variety.
c. volume, volatility, veracity, and variaḃility.
d. variaḃility, velocity, veracity, and variety.
Answer: ḃ
2. LO 1-4) Which data approach attempts to assign each unit in a population into a
small set of classes (or groups) where the unit ḃest 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 ḃased on
data known aḃout them?
a. Classification
b. Regression
c. Similarity matching
d. Data reduction
3
, Answer: c
4. (LO 1-4) Which data approach attempts to predict connections ḃetween two data items?
a. Profiling
b. Classification
c. Link prediction
d. Regression
4
