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

SOLUTION MANUAL for Data Analytics for Accounting,
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3rd Edition by Vernon Richardson, Chapters 1 - 9
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,TABLE OF CONTENTS
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Chapter 1: Data Analytics for Accounting and Identifying the Questions
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Chapter 2: Mastering the Data
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Chapter 3: Performing the Test Plan and Analyzing the Results
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Chapter 4: Communicating Results and Visualizations
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Chapter 5: The Modern Accounting Environment
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Chapter 6: Audit Data Analytics
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Chapter 7: Managerial Analytics
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Chapter 8: Financial Statement Analytics
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Chapter 9: Tax Analytics
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,Solutions Manual – Chapter 1
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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 toftclasses
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 tknowntabout
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




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, Answer: tc


5. (LO t1-6) tWhich tof tthese tterms tis tdefined tas tbeing ta tcentral trepository tof tdescriptions tfor tall toftthe
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.


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