TEST BANK For Data Analytics for Accounting, 3rd Edition by Vernon Richardson, Verified Chapters 1 - 9, Complete Newest Version

TEST BANK DATA ANALYSTICS FOR ACCOUNTING, 3 R
EDITION BY VERNON RICHARDSON, CHAPTER 1-9.

,Chapter 1: Data Analytics for Accounting and Identifying the Questions
A A A A A A A A A




Chapter 2: Mastering the Data
A A A A




Chapter 3: Performing the Test Plan and Analyzing the Results Chapter 4: Communicat
A A A A A A A A A A A A



ing Results and Visualizations
A A A



Chapter 5: The Modern Accounting Environment Chapter 6: Audit
A A A A A A A A A



Data Analytics
A




Chapter 7: Managerial Analytics
A A A




Chapter 8: Financial Statement Analytics Chapter 9: Tax Analytics
A A A A A A A A

,Answers are at the End of Each Chapter
A A A A A A A




Chapter 01: A


Student name: A A


1) Data analytics is the process of evaluating data with the purpose of drawing co
A A A A A A A A A A A A A


nclusions toaddress business questions.
A A A


⊚ true AA




⊚ false AA




2) The
A
process of data analytics aims to transform raw information into data to creat
e value. A A A A A A A A A A A A A



⊚ true AA




⊚ false AA




3) Data analytics has the potential to transform the manner in which compani
A A A A A A A A A A A


es run theirbusinesses, however it is not practical in the near future.
A A A A A A A A A A A


⊚ true AA




⊚ false AA




4) Auditors can use social media to hear what customers are saying about a c
A A A A A A A A A A A A A


ompany andcompare this to inventory obsolescence and other estimates.
A A A A A A A A


⊚ true AA




⊚ false AA




5) Data analytics allows auditors to glean insights that are beneficial to th
A A A A A A A A A A A


e client, withoutbreeching independence.
A A A


⊚ true AA




⊚ false AA

, 6) The predictive analytics is an important aspect of data analytics for audit
A A A A A A A A A A A


ors, but is notapplicable for tax accountants.
A A A A A A


⊚ true AA




⊚ false AA




7) The I in IMPACT Cycle represents Identify the Question.
A A A A A A A A



⊚ true AA




⊚ false AA




8) The M in IMPACT Cycle represents Master the Data.
A A A A A A A A



⊚ true AA




⊚ false AA




9) The P in IMPACT Cycle represents Predict the Results.
A A A A A A A A



⊚ true AA




⊚ false AA




10) The A in IMPACT Cycle represents Analyze the Data.
A A A A A A A A



⊚ true AA




⊚ false AA




11) The C in IMPACT Cycle represents Continuously Track.
A A A A A A A



⊚ true AA




⊚ false AA




12) The T in IMPACT Cycle represents Track Outcomes.
A A A A A A A



⊚ true AA




⊚ false AA