TEST BANK FOR
Data Analytics for Accounting 3rd Edition by
Vernon Richardson
,Chapteri1-9
AnswersiareiatitheiEndiofiEachiChapter
Chapteri01:
Studentiname:
1) Dataianalyticsiisitheiprocessiofievaluatingidataiwithitheipurposeiofidrawingiconclusionsitoia
ddressibusinessiquestions.
⊚i true
⊚i false
2) Theiprocessiofidataianalyticsiaimsitoitransformirawiinformationiintoidataitoicreateivalue.
⊚i true
⊚i false
3) Dataianalyticsihasitheipotentialitoitransformitheimanneriiniwhichicompaniesirunitheirib
usinesses,ihoweveriitiisinotipracticaliinitheinearifuture.
⊚i true
⊚i false
4) Auditorsicaniuseisocialimediaitoiheariwhaticustomersiareisayingiaboutiaicompanyiandic
ompareithisitoiinventoryiobsolescenceiandiotheriestimates.
⊚i true
⊚i false
5) Dataianalyticsiallowsiauditorsitoigleaniinsightsithatiareibeneficialitoitheiclient,iwithoutibr
eechingiindependence.
⊚i true
⊚i false
,6) Theipredictiveianalyticsiisianiimportantiaspectiofidataianalyticsiforiauditors,ibutiisinotia
pplicableiforitaxiaccountants.
⊚i true
⊚i false
7) TheiIiiniIMPACTiCycleirepresentsiIdentifyitheiQuestion.
⊚i true
⊚i false
8) TheiMiiniIMPACTiCycleirepresentsiMasteritheiData.
⊚i true
⊚i false
9) TheiPiiniIMPACTiCycleirepresentsiPredictitheiResults.
⊚i true
⊚i false
10) TheiAiiniIMPACTiCycleirepresentsiAnalyzeitheiData.
⊚i true
⊚i false
11) TheiCiiniIMPACTiCycleirepresentsiContinuouslyiTrack.
⊚i true
⊚i false
12) TheiTiiniIMPACTiCycleirepresentsiTrackiOutcomes.
⊚i true
⊚i false
, 13) TheiIMPACTicycleiisiiterative,iasiinsightsiareigained,ioutcomesiareitracked,iandinewiq
uestionsiareiidentified.
⊚i true
⊚i false
14) Dataianalysisithroughidataimanipulationiisiperformingibasicianalysisitoiunderstanditheiq
ualityiofitheiunderlyingidataiandiitsiabilityitoiaddressitheibusinessiquestion.
⊚i true
⊚i false
15) Toibeiproficientiinidataianalysis,iaccountantsineeditoibecomeidataiscientists.
⊚i true
⊚i false
16) Byidevelopingianianalyticsimindset,iaccountantsiwillibeiableitoirecognizeiwheniandihowid
ataianalyticsicaniaddressibusinessiquestions.
⊚i true
⊚i false
17) Whileiitiisiimportantiforiaccountantsitoiclearlyiarticulateitheibusinessiproblem,idrawingia
ppropriateiconclusions,ibasedionitheidata,ishouldibeileftitoistatisticians.
⊚i true
⊚i false
18) Analytic-
mindediaccountantsishouldireportiresultsiofianalysisiinianiaccessibleiwayitoieachivariedideci
sionimakerianditheirispecificineeds.
⊚i true
⊚i false
Data Analytics for Accounting 3rd Edition by
Vernon Richardson
,Chapteri1-9
AnswersiareiatitheiEndiofiEachiChapter
Chapteri01:
Studentiname:
1) Dataianalyticsiisitheiprocessiofievaluatingidataiwithitheipurposeiofidrawingiconclusionsitoia
ddressibusinessiquestions.
⊚i true
⊚i false
2) Theiprocessiofidataianalyticsiaimsitoitransformirawiinformationiintoidataitoicreateivalue.
⊚i true
⊚i false
3) Dataianalyticsihasitheipotentialitoitransformitheimanneriiniwhichicompaniesirunitheirib
usinesses,ihoweveriitiisinotipracticaliinitheinearifuture.
⊚i true
⊚i false
4) Auditorsicaniuseisocialimediaitoiheariwhaticustomersiareisayingiaboutiaicompanyiandic
ompareithisitoiinventoryiobsolescenceiandiotheriestimates.
⊚i true
⊚i false
5) Dataianalyticsiallowsiauditorsitoigleaniinsightsithatiareibeneficialitoitheiclient,iwithoutibr
eechingiindependence.
⊚i true
⊚i false
,6) Theipredictiveianalyticsiisianiimportantiaspectiofidataianalyticsiforiauditors,ibutiisinotia
pplicableiforitaxiaccountants.
⊚i true
⊚i false
7) TheiIiiniIMPACTiCycleirepresentsiIdentifyitheiQuestion.
⊚i true
⊚i false
8) TheiMiiniIMPACTiCycleirepresentsiMasteritheiData.
⊚i true
⊚i false
9) TheiPiiniIMPACTiCycleirepresentsiPredictitheiResults.
⊚i true
⊚i false
10) TheiAiiniIMPACTiCycleirepresentsiAnalyzeitheiData.
⊚i true
⊚i false
11) TheiCiiniIMPACTiCycleirepresentsiContinuouslyiTrack.
⊚i true
⊚i false
12) TheiTiiniIMPACTiCycleirepresentsiTrackiOutcomes.
⊚i true
⊚i false
, 13) TheiIMPACTicycleiisiiterative,iasiinsightsiareigained,ioutcomesiareitracked,iandinewiq
uestionsiareiidentified.
⊚i true
⊚i false
14) Dataianalysisithroughidataimanipulationiisiperformingibasicianalysisitoiunderstanditheiq
ualityiofitheiunderlyingidataiandiitsiabilityitoiaddressitheibusinessiquestion.
⊚i true
⊚i false
15) Toibeiproficientiinidataianalysis,iaccountantsineeditoibecomeidataiscientists.
⊚i true
⊚i false
16) Byidevelopingianianalyticsimindset,iaccountantsiwillibeiableitoirecognizeiwheniandihowid
ataianalyticsicaniaddressibusinessiquestions.
⊚i true
⊚i false
17) Whileiitiisiimportantiforiaccountantsitoiclearlyiarticulateitheibusinessiproblem,idrawingia
ppropriateiconclusions,ibasedionitheidata,ishouldibeileftitoistatisticians.
⊚i true
⊚i false
18) Analytic-
mindediaccountantsishouldireportiresultsiofianalysisiinianiaccessibleiwayitoieachivariedideci
sionimakerianditheirispecificineeds.
⊚i true
⊚i false
