,DOWNLOADhTHEhTesthBankhforhDatahAnalyticshforhAccountingh2ndhEditionhRichar
dson
Data Analytics for Accounting 2nd Edition by Richardson
h h h h h h h
CH01
ANSWERShAREhLOCATEDhINhTHEhSECONDhPARThOFhTHIShDOCUMENT
TRUE/FALSEh-hWriteh'T'hifhthehstatementhishtruehandh'F'hifhthehstatementhishfalse.
1) Datahanalyticshishthehprocesshofhevaluatinghdatahwithhthehpurposehofhdrawinghconclusions
htohaddresshbusinesshquestions.
⊚ true
⊚ false
2) Thehprocesshofhdatahanalyticshaimshtohtransformhrawhinformationhintohdatahtohcreatehvalue.
⊚ true
⊚ false
3) Datahanalyticshhashthehpotentialhtohtransformhthehmannerhinhwhichhcompanieshrunhtheir
hbusinesses,hhoweverhithishnothpracticalhinhthehnearhfuture.
⊚ true
⊚ false
4) Auditorshcanhusehsocialhmediahtohhearhwhathcustomersharehsayinghabouthahcompanyhand
hcomparehthishtohinventoryhobsolescencehandhotherhestimates.
⊚ true
⊚ false
5) Datahanalyticshallowshauditorshtohgleanhinsightshthatharehbeneficialhtohthehclient,hwithout
hbreechinghindependence.
⊚ true
⊚ false
6) Thehpredictivehanalyticshishanhimportanthaspecthofhdatahanalyticshforhauditors,hbuthishnot
happlicablehforhtaxhaccountants.
⊚ true
⊚ false
7) ThehIhinhIMPACThCyclehrepresentshIdentifyhthehQuestion.
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Data Analytics for Accounting 2nd Edition by Richardson
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CH01
⊚ true
⊚ false
8) ThehMhinhIMPACThCyclehrepresentshMasterhthehData.
⊚ true
⊚ false
9) ThehPhinhIMPACThCyclehrepresentshPredicththehResults.
⊚ true
⊚ false
10) ThehAhinhIMPACThCyclehrepresentshAnalyzehthehData.
⊚ true
⊚ false
11) ThehChinhIMPACThCyclehrepresentshContinuouslyhTrack.
⊚ true
⊚ false
12) ThehThinhIMPACThCyclehrepresentshTrackhOutcomes.
⊚ true
⊚ false
13) ThehIMPACThcyclehishiterative,hashinsightsharehgained,houtcomesharehtracked,handhnew
hquestionsharehidentified.
⊚ true
⊚ false
14) Datahanalyticshprofessionalshestimatehthaththeyhspendhbetweenh25hpercenthandh70hpercent
hofhtheirhtimehcleaninghdatahsohithcanhbehanalyzed.
⊚ true
⊚ false
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, DOWNLOADhTHEhTesthBankhforhDatahAnalyticshforhAccountingh2ndhEditionhRichar
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Data Analytics for Accounting 2nd Edition by Richardson
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CH01
15) Datahanalysishthroughhdatahmanipulationhishperforminghbasichanalysishtohunderstandhthe
hqualityhofhthehunderlyinghdatahandhitshabilityhtohaddresshthehbusinesshquestion.
⊚ true
⊚ false
16) Tohbehproficienthinhdatahanalysis,haccountantshneedhtohbecomehdatahscientists.
⊚ true
⊚ false
17) Byhdevelopinghanhanalyticshmindset,haccountantshwillhbehablehtohrecognizehwhenhandhhow
hdatahanalyticshcanhaddresshbusinesshquestions.
⊚ true
⊚ false
18) Whilehithishimportanthforhaccountantshtohclearlyharticulatehthehbusinesshproblem,hdrawing
happropriatehconclusions,hbasedhonhthehdata,hshouldhbehlefthtohstatisticians.
⊚ true
⊚ false
19) Analytic-
mindedhaccountantshshouldhreporthresultshofhanalysishinhanhaccessiblehwayhtoheachhvariedhdeci
sionhmakerhandhtheirhspecifichneeds.
⊚ true
⊚ false
MULTIPLEhCHOICEh-
hChoosehthehonehalternativehthathbesthcompleteshthehstatementhorhanswershthehquestion.
20) Withhahgoalhtohgivehorganizationshthehinformationhtheyhneedhtohmakehsoundhandhtimely
hbusinesshdecisions,hdatahanalyticshoftenhinvolveshallhofhthehfollowinghexcept:
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dson
Data Analytics for Accounting 2nd Edition by Richardson
h h h h h h h
CH01
ANSWERShAREhLOCATEDhINhTHEhSECONDhPARThOFhTHIShDOCUMENT
TRUE/FALSEh-hWriteh'T'hifhthehstatementhishtruehandh'F'hifhthehstatementhishfalse.
1) Datahanalyticshishthehprocesshofhevaluatinghdatahwithhthehpurposehofhdrawinghconclusions
htohaddresshbusinesshquestions.
⊚ true
⊚ false
2) Thehprocesshofhdatahanalyticshaimshtohtransformhrawhinformationhintohdatahtohcreatehvalue.
⊚ true
⊚ false
3) Datahanalyticshhashthehpotentialhtohtransformhthehmannerhinhwhichhcompanieshrunhtheir
hbusinesses,hhoweverhithishnothpracticalhinhthehnearhfuture.
⊚ true
⊚ false
4) Auditorshcanhusehsocialhmediahtohhearhwhathcustomersharehsayinghabouthahcompanyhand
hcomparehthishtohinventoryhobsolescencehandhotherhestimates.
⊚ true
⊚ false
5) Datahanalyticshallowshauditorshtohgleanhinsightshthatharehbeneficialhtohthehclient,hwithout
hbreechinghindependence.
⊚ true
⊚ false
6) Thehpredictivehanalyticshishanhimportanthaspecthofhdatahanalyticshforhauditors,hbuthishnot
happlicablehforhtaxhaccountants.
⊚ true
⊚ false
7) ThehIhinhIMPACThCyclehrepresentshIdentifyhthehQuestion.
Versionh1 1
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Data Analytics for Accounting 2nd Edition by Richardson
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⊚ true
⊚ false
8) ThehMhinhIMPACThCyclehrepresentshMasterhthehData.
⊚ true
⊚ false
9) ThehPhinhIMPACThCyclehrepresentshPredicththehResults.
⊚ true
⊚ false
10) ThehAhinhIMPACThCyclehrepresentshAnalyzehthehData.
⊚ true
⊚ false
11) ThehChinhIMPACThCyclehrepresentshContinuouslyhTrack.
⊚ true
⊚ false
12) ThehThinhIMPACThCyclehrepresentshTrackhOutcomes.
⊚ true
⊚ false
13) ThehIMPACThcyclehishiterative,hashinsightsharehgained,houtcomesharehtracked,handhnew
hquestionsharehidentified.
⊚ true
⊚ false
14) Datahanalyticshprofessionalshestimatehthaththeyhspendhbetweenh25hpercenthandh70hpercent
hofhtheirhtimehcleaninghdatahsohithcanhbehanalyzed.
⊚ true
⊚ false
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Data Analytics for Accounting 2nd Edition by Richardson
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15) Datahanalysishthroughhdatahmanipulationhishperforminghbasichanalysishtohunderstandhthe
hqualityhofhthehunderlyinghdatahandhitshabilityhtohaddresshthehbusinesshquestion.
⊚ true
⊚ false
16) Tohbehproficienthinhdatahanalysis,haccountantshneedhtohbecomehdatahscientists.
⊚ true
⊚ false
17) Byhdevelopinghanhanalyticshmindset,haccountantshwillhbehablehtohrecognizehwhenhandhhow
hdatahanalyticshcanhaddresshbusinesshquestions.
⊚ true
⊚ false
18) Whilehithishimportanthforhaccountantshtohclearlyharticulatehthehbusinesshproblem,hdrawing
happropriatehconclusions,hbasedhonhthehdata,hshouldhbehlefthtohstatisticians.
⊚ true
⊚ false
19) Analytic-
mindedhaccountantshshouldhreporthresultshofhanalysishinhanhaccessiblehwayhtoheachhvariedhdeci
sionhmakerhandhtheirhspecifichneeds.
⊚ true
⊚ false
MULTIPLEhCHOICEh-
hChoosehthehonehalternativehthathbesthcompleteshthehstatementhorhanswershthehquestion.
20) Withhahgoalhtohgivehorganizationshthehinformationhtheyhneedhtohmakehsoundhandhtimely
hbusinesshdecisions,hdatahanalyticshoftenhinvolveshallhofhthehfollowinghexcept:
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