,
,TEST BANK FOR f f
Data Analytics for Accounting, 3rd Edition Richardson Chapter
f f f f f f f
1-9
f
Answers are at the End of Each Chapter
f f f f f f f
Chapter 01: f
Student name: f
1) Data analytics is the process of evaluating data with the purpose of drawing conclusions to
f f f f f f f f f f f f f f
address business questions.
f f f
⊚ true f
⊚ false f
2) The process of data analytics aims to transform raw information into data to create value.
f f f f f f f f f f f f f f
⊚ true f
⊚ false f
3) Data analytics has the potential to transform the manner in which companies run their
f f f f f f f f f f f f f
businesses, however it is not practical in the near future.
f f f f f f f f f f
⊚ true f
⊚ false f
4) Auditors can use social media to hear what customers are saying about a company and
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compare this to inventory obsolescence and other estimates.
f f f f f f f f
⊚ true f
⊚ false f
5) Data analytics allows auditors to glean insights that are beneficial to the client, without
f f f f f f f f f f f f f
breeching independence.
f f
⊚ true f
⊚ false f
, 6) The predictive analytics is an important aspect of data analytics for auditors, but is not
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fapplicable for tax accountants. f f f
⊚ true f
⊚ false f
7) The I in IMPACT Cycle represents Identify the Question.
f f f f f f f f
⊚ true f
⊚ false f
8) The M in IMPACT Cycle represents Master the Data.
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⊚ true f
⊚ false f
9) The P in IMPACT Cycle represents Predict the Results.
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⊚ true f
⊚ false f
10) The A in IMPACT Cycle represents Analyze the Data.
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⊚ true f
⊚ false f
11) The C in IMPACT Cycle represents Continuously Track.
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⊚ true f
⊚ false f
12) The T in IMPACT Cycle represents Track Outcomes.
f f f f f f f
⊚ true f
⊚ false f
,TEST BANK FOR f f
Data Analytics for Accounting, 3rd Edition Richardson Chapter
f f f f f f f
1-9
f
Answers are at the End of Each Chapter
f f f f f f f
Chapter 01: f
Student name: f
1) Data analytics is the process of evaluating data with the purpose of drawing conclusions to
f f f f f f f f f f f f f f
address business questions.
f f f
⊚ true f
⊚ false f
2) The process of data analytics aims to transform raw information into data to create value.
f f f f f f f f f f f f f f
⊚ true f
⊚ false f
3) Data analytics has the potential to transform the manner in which companies run their
f f f f f f f f f f f f f
businesses, however it is not practical in the near future.
f f f f f f f f f f
⊚ true f
⊚ false f
4) Auditors can use social media to hear what customers are saying about a company and
f f f f f f f f f f f f f f
compare this to inventory obsolescence and other estimates.
f f f f f f f f
⊚ true f
⊚ false f
5) Data analytics allows auditors to glean insights that are beneficial to the client, without
f f f f f f f f f f f f f
breeching independence.
f f
⊚ true f
⊚ false f
, 6) The predictive analytics is an important aspect of data analytics for auditors, but is not
f f f f f f f f f f f f f f
fapplicable for tax accountants. f f f
⊚ true f
⊚ false f
7) The I in IMPACT Cycle represents Identify the Question.
f f f f f f f f
⊚ true f
⊚ false f
8) The M in IMPACT Cycle represents Master the Data.
f f f f f f f f
⊚ true f
⊚ false f
9) The P in IMPACT Cycle represents Predict the Results.
f f f f f f f f
⊚ true f
⊚ false f
10) The A in IMPACT Cycle represents Analyze the Data.
f f f f f f f f
⊚ true f
⊚ false f
11) The C in IMPACT Cycle represents Continuously Track.
f f f f f f f
⊚ true f
⊚ false f
12) The T in IMPACT Cycle represents Track Outcomes.
f f f f f f f
⊚ true f
⊚ false f
