Test Bank For Data Analytics For Accounting

,DOWNLOAD THE Test Bank for Data Analytics for Accounting 2nd Edition Richard
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Data Analytics for Accounting 2nd Edition by Richardson
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CH01
ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
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TRUE/FALSEt-tWritet'T'tiftthetstatementtisttruetandt'F'tiftthetstatementtistfalse.
1) Datatanalyticstistthetprocesstoftevaluatingtdatatwithtthetpurposetoftdrawingtconclusionsttota
ddresstbusinesstquestions.
⊚ true
⊚ false


2) Thetprocesstoftdatatanalyticstaimsttottransformtrawtinformationtintotdatattotcreatetvalue.
⊚ true
⊚ false


3) Datatanalyticsthastthetpotentialttottransformtthetmannertintwhichtcompaniestrunttheirtbusi
nesses,thowevertittistnottpracticaltintthetneartfuture.
⊚ true
⊚ false


4) Auditorstcantusetsocialtmediattotheartwhattcustomerstaretsayingtabouttatcompanytandtcom
paretthisttotinventorytobsolescencetandtothertestimates.
⊚ true
⊚ false


5) Datatanalyticstallowstauditorsttotgleantinsightstthattaretbeneficialttotthetclient,twithouttbree
chingtindependence.
⊚ true
⊚ false


6) Thetpredictivetanalyticstistantimportanttaspecttoftdatatanalyticstfortauditors,tbuttistnottappl
icabletforttaxtaccountants.
⊚ true
⊚ false


7) ThetItintIMPACTtCycletrepresentstIdentifytthetQuestion.



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,DOWNLOAD THE Test Bank for Data Analytics for Accounting 2nd Edition Richard
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Data Analytics for Accounting 2nd Edition by Richardson
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CH01
⊚ true
⊚ false


8) ThetMtintIMPACTtCycletrepresentstMastertthetData.
⊚ true
⊚ false


9) ThetPtintIMPACTtCycletrepresentstPredicttthetResults.
⊚ true
⊚ false


10) ThetAtintIMPACTtCycletrepresentstAnalyzetthetData.
⊚ true
⊚ false


11) ThetCtintIMPACTtCycletrepresentstContinuouslytTrack.
⊚ true
⊚ false


12) ThetTtintIMPACTtCycletrepresentstTracktOutcomes.
⊚ true
⊚ false


13) ThetIMPACTtcycletistiterative,tastinsightstaretgained,toutcomestarettracked,tandtnewtques
tionstaretidentified.
⊚ true
⊚ false


14) Datatanalyticstprofessionalstestimatetthatttheytspendtbetweent25tpercenttandt70tpercenttoftt
heirttimetcleaningtdatatsotittcantbetanalyzed.
⊚ true
⊚ false



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t t t t t t t t t t t

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Data Analytics for Accounting 2nd Edition by Richardson
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CH01

15) Datatanalysistthroughtdatatmanipulationtistperformingtbasictanalysisttotunderstandtthetqua
litytoftthetunderlyingtdatatandtitstabilityttotaddresstthetbusinesstquestion.
⊚ true
⊚ false


16) Totbetproficienttintdatatanalysis,taccountantstneedttotbecometdatatscientists.
⊚ true
⊚ false


17) Bytdevelopingtantanalyticstmindset,taccountantstwilltbetablettotrecognizetwhentandthowtdatat
analyticstcantaddresstbusinesstquestions.
⊚ true
⊚ false


18) Whiletittistimportanttfortaccountantsttotclearlytarticulatetthetbusinesstproblem,tdrawingtapp
ropriatetconclusions,tbasedtontthetdata,tshouldtbetleftttotstatisticians.
⊚ true
⊚ false


19) Analytic-
mindedtaccountantstshouldtreporttresultstoftanalysistintantaccessibletwayttoteachtvariedtdecisiont
makertandttheirtspecifictneeds.
⊚ true
⊚ false


MULTIPLEtCHOICEt-
tChoosetthetonetalternativetthattbesttcompletestthetstatementtortanswerstthetquestion.


20) Withtatgoalttotgivetorganizationstthetinformationttheytneedttotmaketsoundtandttimelytbusi
nesstdecisions,tdatatanalyticstoftentinvolvestalltoftthetfollowingtexcept:




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