SOLUTION MANUAL for Data Analytics for Accounting,
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3rdEditionbyVernonRichardson,Chapters1-9
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1
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TABLEOFCONTENTS g g
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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Chapter6:AuditData 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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2
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Solutions Manual – Chapter 1 g g g g
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, and variability.
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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, and variety.
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Answer: b g
2. LO 1-4) Which data approach attempts to assign each unit in a population into a small set of
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classes (or groups) where the unit best fits?
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a. Regression
b. Similarity matching g
c. Co-occurrence grouping g
d. Classification
Answer: d g
3. (LO 1-4) Which data approach attempts to identify similar individuals based on data known
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about them?
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a. Classification
b. Regression
c. Similarity matching g
d. Data reduction g
Answer: c g
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 g
d. Regression
3
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Answer: c g
5. (LO 1-6) Which of these terms is defined as being a central repository of descriptions for all of
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the data attributes of the dataset?
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a. Big Datag
b. Data warehouse g
c. Data dictionary g
d. Data Analytics g
Answer: c g
6. (LO 1-5) Which skills were not emphasized that analytic-minded accountants should have?
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a. Developed an analytics mindset g g g
b. Data scrubbing and data preparation
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c. Classification of test approaches g g g
d. Statistical data analysis competency g g g
Answer: c g
7. (LO 1-5) In which areas were skills not emphasized for analytic-minded accountants?
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a. Data quality g
b. Descriptive data analysis g g
c. Data visualization and data reporting
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d. Data and systems analysis and design
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Answer: d g
8. (LO 1-4) The IMPACT cycle includes all except the following steps:
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a. perform test plan. g g
b. visualize the data. g g
c. master the data. g g
d. track outcomes. g
Answer: b g
9. (LO 1-4) The IMPACT cycle specifically includes all except the following steps:
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a. data preparation. g
b. communicate insights. g
c. address and refine results. g g g
d. perform test plan. g g
4
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Distribution of this document is illegal
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g g g g g g g
3rdEditionbyVernonRichardson,Chapters1-9
g g g g g g g g g
1
Downloaded by: Bookista |
g g g g Want to earn $1.236
g g g
Distribution of this document is illegal
g g g g g extra per year?
g g
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
g g g g g g g g g g
TABLEOFCONTENTS g g
Chapter 1: Data Analytics for Accounting and Identifying the Questions
g g g g g g g g g
Chapter 2: Mastering the Data
g g g g
Chapter 3: Performing the Test Plan and Analyzing the Results
g g g g g g g g g
Chapter 4: Communicating Results and Visualizations
g g g g g
Chapter 5: The Modern Accounting Environment
g g g g g
Chapter6:AuditData Analytics
g g g g
Chapter 7: Managerial Analytics
g g g
Chapter 8: Financial Statement Analytics
g g g g
Chapter 9: Tax Analytics
g g g
2
Downloaded by: Bookista |
g g g g Want to earn $1.236
g g g
Distribution of this document is illegal
g g g g g extra per year?
g g
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
g g g g g g g g g g
Solutions Manual – Chapter 1 g g g g
Solutions to Multiple Choice Questions
g g g g
1. (LO 1-1) Big Data is often described by the four Vs, or
g g g g g g g g g g g
a. volume, velocity, veracity, and variability.
g g g g
b. volume, velocity, veracity, and variety.
g g g g
c. volume, volatility, veracity, and variability.
g g g g
d. variability, velocity, veracity, and variety.
g g g g
Answer: b g
2. LO 1-4) Which data approach attempts to assign each unit in a population into a small set of
g g g g g g g g g g g g g g g g g
classes (or groups) where the unit best fits?
g g g g g g g g
a. Regression
b. Similarity matching g
c. Co-occurrence grouping g
d. Classification
Answer: d g
3. (LO 1-4) Which data approach attempts to identify similar individuals based on data known
g g g g g g g g g g g g g
about them?
g g
a. Classification
b. Regression
c. Similarity matching g
d. Data reduction g
Answer: c g
4. (LO 1-4) Which data approach attempts to predict connections between two data items?
g g g g g g g g g g g g
a. Profiling
b. Classification
c. Link prediction g
d. Regression
3
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g g g g Want to earn $1.236
g g g
Distribution of this document is illegal g g g g g extra per year?
g g
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
g g g g g g g g g g
Answer: c g
5. (LO 1-6) Which of these terms is defined as being a central repository of descriptions for all of
g g g g g g g g g g g g g g g g g
the data attributes of the dataset?
g g g g g g
a. Big Datag
b. Data warehouse g
c. Data dictionary g
d. Data Analytics g
Answer: c g
6. (LO 1-5) Which skills were not emphasized that analytic-minded accountants should have?
g g g g g g g g g g g
a. Developed an analytics mindset g g g
b. Data scrubbing and data preparation
g g g g
c. Classification of test approaches g g g
d. Statistical data analysis competency g g g
Answer: c g
7. (LO 1-5) In which areas were skills not emphasized for analytic-minded accountants?
g g g g g g g g g g g
a. Data quality g
b. Descriptive data analysis g g
c. Data visualization and data reporting
g g g g
d. Data and systems analysis and design
g g g g g
Answer: d g
8. (LO 1-4) The IMPACT cycle includes all except the following steps:
g g g g g g g g g g
a. perform test plan. g g
b. visualize the data. g g
c. master the data. g g
d. track outcomes. g
Answer: b g
9. (LO 1-4) The IMPACT cycle specifically includes all except the following steps:
g g g g g g g g g g g
a. data preparation. g
b. communicate insights. g
c. address and refine results. g g g
d. perform test plan. g g
4
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Distribution of this document is illegal
g g g g g extra per year?
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