Test Bank For Data and Analytics in Accounting An Integrated Approach 1st Edition by Ann C. Dzuranin, Guido Geerts, Margarita Lenk Chapter 1-10

Test Bank For
Data and Analytics in Accounting An Integrated Approach 1st Edition by Ann
C. Dzuranin, Guido Geerts, Margarita Lenk
Chapter 1-10




ChapterT1T T DataTandTAnalyticsTinTtheTAccountingTProfession

1) OneTkeyTfeatureTofTself-serviceTbusinessTintelligenceT(SSBI)TsoftwareTisTthat
A) itTisTeasyTtoTuse.
B) itTcostsTlessTtoTimplement.
C) itTconnectsTtoTmultipleTdataTsources.
D) itTprovidesTdashboardingTcapabilitie
s.TAnswer:T A
Explanation:T ThereTareTtwoTkeyTfeaturesTofTSSBITsoftware:TitTprovidesTextendedTdataTproces
singTcapabilitiesTforTpreparingTdata,TanalyzingTdata,TandTreportingTdataTanalysisTresults;TandTit
TisTeasyTtoTuse.
Diff:T1
LO:T T 1-1
1

,Bloom:T CTM
in.:T 1
AACSB:T T Analytic
AICPA:T T FC:TMeasurement,TAnalysis,TandTInterpretation

2) AlteryxTisTanTexampleTofTSSBITsoftwareTthatTcan
A) replaceTExcelTsinceTitTcanTprovideTmoreTcomplexTfunctions.
B) replaceTaTdatabaseTsinceTitTcanTstoreTtransactionalTdata.
C) replaceTtheTdataTwarehouse.
D) beTusedTtoTcleanTdataTbyTremovingTnullTvaluesTorTremovingTleadingTorTtrailingTs
paces.TAnswer:T D
Explanation:T ThereTareTtwoTkeyTfeaturesTofTSSBITsoftware:TitTprovidesTextendedTdataTproces
singTcapabilitiesTforTpreparingTdata,TanalyzingTdata,TandTreportingTdataTanalysisTresults;TandTit
TisTeasyTtoTuse.
Diff:T1
LO:T T 1-1
Bloom:T CTM
in.:T 1
AACSB:T T Analytic
AICPA:T T FC:TMeasurement,TAnalysis,TandTInterpretation




2

,3) HowThasTdataTanalyticsTchangedTtheTauditTprofession?
A) TheTcostTofTauditTengagementsThasTincreasedTdueTtoTtheTgrowingTdataTvolumeTthatTneeds
TtoTbeTvalidated.
B) TheTcostTofTauditTengagementsThasTdecreasedTsinceTtheTdataTthatTisTreceivedTfromTclien
tsTareTmoreTtrustworthy.
C) AnTauditorTcanTnowTanalyzeTtheTentireTpopulationTofTaudit-
relevantTdataTforTexceptionsTorToutliers.
D) ThereTisTaTgreaterTassuranceTthatTfinancialTstatementsTdoTnotThaveTmaterialTmisstatementT
sinceTtheTdataTisTmoreTtimelyTandTcomplete.
Answer:T T C
Explanation:T Self-
serviceTbusinessTintelligenceTtoolsThasTempoweredTaccountantsTtoTuseTdataTandTanalyticsTtoTprovideT
value-addedTservicesTtoTtheirTclientsTandTemployers.
Diff:T2
LO:T T 1-1
Bloom:T APT
Min.:T 1
AACSB:T T Analytic
AICPA:T T FC:TMeasurement,TAnalysis,TandTInterpretation

4) DataTanalyticsTis
A) theTprocessTofTanalyzingTrawTdataTtoTanswerTquestionsTorTprovideTinsights.
B) theTprocessTofTstoringTrelevantTrawTdataTsoTthatTdataTcanTbeTanalyzed.
C) theTprocessTofTcleaningTdataTsoTthatTdataTcanTbeTmoreTtrustworthy.
D) theTprocessTofTusingTmachineTlearningTandTpredictiveTmodeli
ng.TAnswer:T A
Explanation:T DataTanalyticsTisTtheTprocessTofTanalyzingTrawTdataTtoTanswerTquestionsTorTpro
videTinsights.
Diff:T1
LO:T T 1-1
Bloom:T CTM
in.:T 1
AACSB:T T Analytic
AICPA:T T FC:TMeasurement,TAnalysis,TandTInterpretation

5) RoboticTprocessTautomationT(RPA)TsoftwareTisTbeingTusedTto
A) buildTartificialTintelligenceTmodelsTtoTeliminateTmanualTauditTtasks.
B) analyzeTauditingTdataTandTperformingTsubstantiveTtests.
C) auditTsample-basedTtestingTsoTthatTauditorsTcanTfocusTonTanalysisTandTprovideTvaluableTinsights.
D) automateTmanualTtasksTsoTthatTauditorsTcanTfocusTonTmoreTstrategicTt
asks.TAnswer:T D
Explanation:T RPATcanTbeTusedTtoTperformTroutineTfinancialTaccountingTfunctionsTsuchTasTre
cordingTjournalTentries,TcreatingTtrialTbalances,TdoingTpreliminaryTaccountTanalyses,TandTcreati
ngTfinancialTstatementsTtoTletTaccountantsTspendTmoreTtimeTanalyzingTdataTforTinsights.
Diff:T1
LO:T T 1-1
Bloom:T CTM
in.:T 1
3

, AACSB:T T Analytic




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