SOLUTIONMANUAL t
Data Analytics for Accounting, 3rd Edition
t t t t t
by Vernon Richardson,Chapters 1 - 9
t t t t t t
1
,Chapter t1: tData tAnalytics tfor tAccounting tand tIdentifying tthe tQuestions t Chapter t2: tMastering tthe tData
Chapter t3: tPerforming tthe tTest tPlan tand tAnalyzing tthe tResults t Chapter t4: tCommunicating tResults tand
Visualizations
t
Chapter t5: tThe tModern tAccounting tEnvironment t Chapter t6: tAudit tData
Analytics
t
Chapter t7: tManagerial tAnalytics
Chapter t8: tFinancial tStatement tAnalytics t Chapter t9: tTax tAnalytics
2
,Solutions tManual t– tChapter t1
Solutions tto tMultiple tChoice tQuestions
1. (LO t1-1) tBig tData tis toften tdescribed tby tthe tfour tVs, tor
a. volume, tvelocity, tveracity, tand tvariability.
b. volume, tvelocity, tveracity, tand tvariety.
c. volume, tvolatility, tveracity, tand tvariability.
d. variability, tvelocity, tveracity, tand tvariety.
Answer: tb
2. LO t1-4) tWhich tdata tapproach tattempts tto tassign teach tunit tin ta tpopulation tinto ta tsmall
tset t ofclasses t(or tgroups) twhere tthe tunit tbest tfits?
a. Regression
b. Similarity tmatching
c. Co-occurrence tgrouping
d. Classification
Answer: td
3. (LO t1-4) tWhich tdata tapproach tattempts tto tidentify tsimilar tindividuals tbased ton
tdata t knownabout tthem?
a. Classification
b. Regression
c. Similarity tmatching
d. Data treduction
Answer: tc
4. (LO t1-4) tWhich tdata tapproach tattempts tto tpredict tconnections tbetween ttwo tdata titems?
a. Profiling
b. Classification
c. Link tprediction
d. Regression
3
, Answer: tc
5. (LO t1-6) tWhich tof tthese tterms tis tdefined tas tbeing ta tcentral trepository tof tdescriptions tfor tall
tof t the tdata tattributes tof tthe tdataset?
a. Big tData
b. Data twarehouse
c. Data tdictionary
d. Data tAnalytics
Answer: tc
6. (LO t1-5) tWhich tskills twere tnot temphasized tthat tanalytic-minded taccountants tshould thave?
a. Developed tan tanalytics tmindset
b. Data tscrubbing tand tdata tpreparation
c. Classification tof ttest tapproaches
d. Statistical tdata tanalysis tcompetency
Answer: tc
7. (LO t1-5) tIn twhich tareas twere tskills tnot temphasized tfor tanalytic-minded taccountants?
a. Data tquality
b. Descriptive tdata tanalysis
c. Data tvisualization tand tdata treporting
d. Data tand tsystems tanalysis tand tdesign
Answer: td
8. (LO t1-4) tThe tIMPACT tcycle tincludes tall texcept tthe tfollowing tsteps:
a. perform ttest tplan.
b. visualize tthe tdata.
c. master tthe tdata.
d. track toutcomes.
Answer: tb
9. (LO t1-4) tThe tIMPACT tcycle tspecifically tincludes tall texcept tthe tfollowing tsteps:
a. data tpreparation.
b. communicate tinsights.
c. address tand trefine tresults.
d. perform ttest tplan.
4
Data Analytics for Accounting, 3rd Edition
t t t t t
by Vernon Richardson,Chapters 1 - 9
t t t t t t
1
,Chapter t1: tData tAnalytics tfor tAccounting tand tIdentifying tthe tQuestions t Chapter t2: tMastering tthe tData
Chapter t3: tPerforming tthe tTest tPlan tand tAnalyzing tthe tResults t Chapter t4: tCommunicating tResults tand
Visualizations
t
Chapter t5: tThe tModern tAccounting tEnvironment t Chapter t6: tAudit tData
Analytics
t
Chapter t7: tManagerial tAnalytics
Chapter t8: tFinancial tStatement tAnalytics t Chapter t9: tTax tAnalytics
2
,Solutions tManual t– tChapter t1
Solutions tto tMultiple tChoice tQuestions
1. (LO t1-1) tBig tData tis toften tdescribed tby tthe tfour tVs, tor
a. volume, tvelocity, tveracity, tand tvariability.
b. volume, tvelocity, tveracity, tand tvariety.
c. volume, tvolatility, tveracity, tand tvariability.
d. variability, tvelocity, tveracity, tand tvariety.
Answer: tb
2. LO t1-4) tWhich tdata tapproach tattempts tto tassign teach tunit tin ta tpopulation tinto ta tsmall
tset t ofclasses t(or tgroups) twhere tthe tunit tbest tfits?
a. Regression
b. Similarity tmatching
c. Co-occurrence tgrouping
d. Classification
Answer: td
3. (LO t1-4) tWhich tdata tapproach tattempts tto tidentify tsimilar tindividuals tbased ton
tdata t knownabout tthem?
a. Classification
b. Regression
c. Similarity tmatching
d. Data treduction
Answer: tc
4. (LO t1-4) tWhich tdata tapproach tattempts tto tpredict tconnections tbetween ttwo tdata titems?
a. Profiling
b. Classification
c. Link tprediction
d. Regression
3
, Answer: tc
5. (LO t1-6) tWhich tof tthese tterms tis tdefined tas tbeing ta tcentral trepository tof tdescriptions tfor tall
tof t the tdata tattributes tof tthe tdataset?
a. Big tData
b. Data twarehouse
c. Data tdictionary
d. Data tAnalytics
Answer: tc
6. (LO t1-5) tWhich tskills twere tnot temphasized tthat tanalytic-minded taccountants tshould thave?
a. Developed tan tanalytics tmindset
b. Data tscrubbing tand tdata tpreparation
c. Classification tof ttest tapproaches
d. Statistical tdata tanalysis tcompetency
Answer: tc
7. (LO t1-5) tIn twhich tareas twere tskills tnot temphasized tfor tanalytic-minded taccountants?
a. Data tquality
b. Descriptive tdata tanalysis
c. Data tvisualization tand tdata treporting
d. Data tand tsystems tanalysis tand tdesign
Answer: td
8. (LO t1-4) tThe tIMPACT tcycle tincludes tall texcept tthe tfollowing tsteps:
a. perform ttest tplan.
b. visualize tthe tdata.
c. master tthe tdata.
d. track toutcomes.
Answer: tb
9. (LO t1-4) tThe tIMPACT tcycle tspecifically tincludes tall texcept tthe tfollowing tsteps:
a. data tpreparation.
b. communicate tinsights.
c. address tand trefine tresults.
d. perform ttest tplan.
4
