Solution manual for data analytics for accounting 3rd edition by Vernon Richardson

SOLUTIONMANUAL s




DataAnalyticsforAccounting,3rdEdition
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byVernonRichardson,Chapters1-9
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,Chapter 1: DataAnalyticsfor Accounting andIdentifying theQuestions Chapter 2: Mastering the Data
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Chapter 3: Performing the Test Plan and Analyzing the Results Chapter4:CommunicatingResultsandVisualizations
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Chapter 5: TheModern AccountingEnvironment Chapter 6:Audit DataAnalytics
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Chapter7:ManagerialAnalytics
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Chapter 8: FinancialStatementAnalytics Chapter 9: TaxAnalytics
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,Solutions Manual – Chapter 1
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Solutions to Multiple Choice Questions
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1. (LO 1-1) Big Data is often described by the four Vs, or
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a. volume,velocity,veracity, andvariability.
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b. volume,velocity,veracity,and variety.
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c. volume,volatility, veracity,and variability.
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d. variability,velocity,veracity, andvariety. s s s s




Answer:b s




2. LO 1-4) Which data approach attempts to assign each unit in a population into a small set
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sofclasses (or groups) where the unit best fits?
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a. Regression
b. Similaritymatching s




c. Co-occurrencegrouping s




d. Classification

Answer:d s




3. (LO 1-4) Which data approach attempts to identify similar individuals based on data
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knownaboutthem?
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a. Classification
b. Regression
c. Similaritymatching s




d. Datareduction s




Answer:c s




4. (LO 1-4) Which data approach attempts to predict connections between two data items?
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a. Profiling
b. Classification
c. Link prediction s




d. Regression




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, Answer:c s




5. (LO 1-6) Which of these terms is defined as being a central repository of descriptions for all of the
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data attributes of the dataset?
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a. Big Datas




b. Datawarehouse s




c. Data dictionary s




d. DataAnalytics s




Answer:c s




6. (LO 1-5) Which skills were not emphasized that analytic-minded accountants should have?
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a. Developed an analytics mindset s s s




b. Data scrubbing and data preparation
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c. Classification of test approaches s s s




d. Statisticaldata analysis competency s s s




Answer:c s




7. (LO 1-5) In which areas were skills not emphasized for analytic-minded accountants?
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a. Data quality s




b. Descriptivedata analysis s s




c. Data visualization and data reporting
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d. Data and systems analysis anddesign
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Answer:d s




8. (LO 1-4) The IMPACT cycle includes all except the following steps:
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a. performtest plan. s s




b. visualize the data. s s




c. masterthe data. s s




d. trackoutcomes.
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Answer:b s




9. (LO 1-4) The IMPACT cycle specifically includes all except the following steps:
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a. datapreparation.
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b. communicateinsights. s




c. address and refine results. s s s




d. perform test plan. s s




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