Solution Manual For Data Analytics for Accounting, 3rd Edition Richardson

SOLUTION MANUALforDataAnalyticsforAccounting, 3rd
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j EditionbyVernonRichardson,Chapters 1-9
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1

,TABLE OF CONTENTS j j




Chapter1:DataAnalyticsforAccountingandIdentifyingtheQuestions
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Chapter2:MasteringtheData
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Chapter3:PerformingtheTestPlanandAnalyzingtheResults
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Chapter4:CommunicatingResultsandVisualizations
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Chapter5:TheModernAccountingEnvironment
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Chapter6:AuditDataAnalytics
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Chapter7:ManagerialAnalytics
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Chapter8:FinancialStatementAnalytics
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Chapter9: Tax Analytics
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,Solutions Manual–Chapter1 j j j j




SolutionstoMultipleChoice Questionsj j j j




1. (LO 1-1) BigData is often described by the four Vs, or
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a. volume,velocity,veracity,andvariability. j j j j




b. volume, velocity, veracity, and variety. j j j j




c. volume, volatility, veracity, and variability. j j j j




d. variability, velocity, veracity, and variety. j j j j




Answer:b j




2. LO1-4)Whichdataapproachattemptstoassigneachunitinapopulationintoasmallsetofclasses(orgroups)
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wheretheunitbestfits?
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a. Regression
b. Similaritymatching j




c. Co-occurrencegrouping j




d. Classification

Answer:d j




3. (LO 1-4) Which data approach attempts to identify similar individuals based on data knownabout them?
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a. Classification
b. Regression
c. Similaritymatching j




d. Data reduction j




Answer:c j




4. (LO1-4)Whichdataapproachattemptstopredictconnectionsbetweentwo dataitems?
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a. Profiling
b. Classification
c. Link prediction j




d. Regression




3

, Answer:c j




5. (LO1-6)Whichofthesetermsisdefinedasbeingacentralrepositoryofdescriptionsforallofthedataattributes
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of the dataset?
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a. Big Data j




b. Data warehouse j




c. Data dictionary j




d. Data Analytics j




Answer:c j




6. (LO 1-5) Which skills were not emphasized that analytic-minded accountants should have?
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a. Developed an analyticsmindset j j j




b. Data scrubbing and data preparation
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c. Classificationof test approaches j j j




d. Statistical data analysis competency j j j




Answer:c j




7. (LO 1-5) In which areas were skills not emphasized for analytic-minded accountants?
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a. Data quality j




b. Descriptive data analysis j j




c. Datavisualization and data reporting
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d. Dataand systemsanalysisand design
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Answer:d j




8. (LO1-4)TheIMPACT cycleincludesall except thefollowingsteps:
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a. performtestplan. j j




b. visualizethedata. j j




c. masterthedata. j j




d. track outcomes. j




Answer:b j




9. (LO1-4)TheIMPACTcyclespecificallyincludesall except thefollowingsteps:
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a. data preparation. j




b. communicate insights. j




c. address and refine results. j j j




d. performtestplan. j j




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