Test Bank for Introduction to Data Analytics for Accounting, 2nd Edition by Vernon Richardson|ultimate guide 100% verified.

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Data Analytics for Accounting 2nd Edition by Richardson
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CH01
ANSWERSiAREiLOCATEDiINiTHEiSECONDiPARTiOFiTHISiDOCUMENT
TRUE/FALSEi-iWritei'T'iifitheistatementiisitrueiandi'F'iifitheistatementiisifalse.
1) Dataianalyticsiisitheiprocessiofievaluatingidataiwithitheipurposeiofidrawingiconclusionsitoia
ddressibusinessiquestions.
⊚ true
⊚ false


2) Theiprocessiofidataianalyticsiaimsitoitransformirawiinformationiintoidataitoicreateivalue.
⊚ true
⊚ false


3) Dataianalyticsihasitheipotentialitoitransformitheimanneriiniwhichicompaniesirunitheiribus
inesses,ihoweveriitiisinotipracticaliinitheinearifuture.
⊚ true
⊚ false


4) Auditorsicaniuseisocialimediaitoiheariwhaticustomersiareisayingiaboutiaicompanyiandico
mpareithisitoiinventoryiobsolescenceiandiotheriestimates.
⊚ true
⊚ false


5) Dataianalyticsiallowsiauditorsitoigleaniinsightsithatiareibeneficialitoitheiclient,iwithoutibre
echingiindependence.
⊚ true
⊚ false


6) Theipredictiveianalyticsiisianiimportantiaspectiofidataianalyticsiforiauditors,ibutiisinotiapp
licableiforitaxiaccountants.
⊚ true
⊚ false


7) TheiIiiniIMPACTiCycleirepresentsiIdentifyitheiQuestion.



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Data Analytics for Accounting 2nd Edition by Richardson
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CH01
⊚ true
⊚ false


8) TheiMiiniIMPACTiCycleirepresentsiMasteritheiData.
⊚ true
⊚ false


9) TheiPiiniIMPACTiCycleirepresentsiPredictitheiResults.
⊚ true
⊚ false


10) TheiAiiniIMPACTiCycleirepresentsiAnalyzeitheiData.
⊚ true
⊚ false


11) TheiCiiniIMPACTiCycleirepresentsiContinuouslyiTrack.
⊚ true
⊚ false


12) TheiTiiniIMPACTiCycleirepresentsiTrackiOutcomes.
⊚ true
⊚ false


13) TheiIMPACTicycleiisiiterative,iasiinsightsiareigained,ioutcomesiareitracked,iandinewique
stionsiareiidentified.
⊚ true
⊚ false


14) Dataianalyticsiprofessionalsiestimateithatitheyispendibetweeni25ipercentiandi70ipercentiofit
heiritimeicleaningidataisoiiticanibeianalyzed.
⊚ true
⊚ false



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15) Dataianalysisithroughidataimanipulationiisiperformingibasicianalysisitoiunderstanditheiqu
alityiofitheiunderlyingidataiandiitsiabilityitoiaddressitheibusinessiquestion.
⊚ true
⊚ false


16) Toibeiproficientiinidataianalysis,iaccountantsineeditoibecomeidataiscientists.
⊚ true
⊚ false


17) Byidevelopingianianalyticsimindset,iaccountantsiwillibeiableitoirecognizeiwheniandihowidat
aianalyticsicaniaddressibusinessiquestions.
⊚ true
⊚ false


18) Whileiitiisiimportantiforiaccountantsitoiclearlyiarticulateitheibusinessiproblem,idrawingiap
propriateiconclusions,ibasedionitheidata,ishouldibeileftitoistatisticians.
⊚ true
⊚ false


19) Analytic-
mindediaccountantsishouldireportiresultsiofianalysisiinianiaccessibleiwayitoieachivariedidecision
imakerianditheirispecificineeds.

⊚ true
⊚ false


MULTIPLEiCHOICEi-
iChooseitheioneialternativeithatibesticompletesitheistatementiorianswersitheiquestion.

20) Withiaigoalitoigiveiorganizationsitheiinformationitheyineeditoimakeisoundianditimelyibus
inessidecisions,idataianalyticsiofteniinvolvesialliofitheifollowingiexcept:




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