Solution Manual For Data Analytics for Accounting, 3rd Edition Richardson all chapters latest new version updated in 2025

SOLUTION MANUAL for Data Analytics for Accounting,
3rd Edition by Vernon Richardson, Chapters 1 - 9 ye




1

,TABLE OF CONTENTS
ye ye




Chapter 1: Data Analytics for Accounting and Identifying the Questions
ye ye ye ye ye ye ye ye ye




Chapter 2: Mastering the Data
ye ye ye ye




Chapter 3: Performing the Test Plan and Analyzing the Results
ye ye ye ye ye ye ye ye ye




Chapter 4: Communicating Results and Visualizations
ye ye ye ye ye




Chapter 5: The Modern Accounting Environment
ye ye ye ye ye




Chapter 6: Audit Data Analytics
ye ye ye ye




Chapter 7: Managerial Analytics
ye ye ye




Chapter 8: Financial Statement Analytics
ye ye ye ye




Chapter 9: Tax Analytics
ye ye ye




2

,Solutions Manual – Chapter 1 ye ye ye ye




Solutions to Multiple Choice Questions
ye ye ye ye




1. (LO 1-1) Big Data is often described by the four Vs, or
ye ye ye ye ye ye ye ye ye ye ye




a. volume, velocity, veracity, and variability.
ye ye ye ye




b. volume, velocity, veracity, and variety.
ye ye ye ye




c. volume, volatility, veracity, and variability.
ye ye ye ye




d. variability, velocity, veracity, and variety. ye ye ye ye




Answer: b ye




2. LO 1- ye



4) Which data approach attempts to assign each unit in a population into a small set ofclasses (or groups)
ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye



where the unit best fits?
ye ye ye ye




a. Regression
b. Similarity matching ye




c. Co-occurrence grouping ye




d. Classification

Answer: d ye




3. (LO 1- ye



4) Which data approach attempts to identify similar individuals based on data knownabout them?
ye ye ye ye ye ye ye ye ye ye ye ye ye ye




a. Classification
b. Regression
c. Similarity matching ye




d. Data reduction ye




Answer: c ye




4. (LO 1-4) Which data approach attempts to predict connections between two data items?
ye ye ye ye ye ye ye ye ye ye ye ye




a. Profiling
b. Classification
c. Link prediction ye




d. Regression




3

, Answer: c ye




5. (LO 1- ye



6) Which of these terms is defined as being a central repository of descriptions for all ofthe data attributes of t
ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye ye



he dataset?
ye




a. Big Data ye




b. Data warehouse ye




c. Data dictionary ye




d. Data Analytics ye




Answer: c ye




6. (LO 1-5) Which skills were not emphasized that analytic-minded accountants should have?
ye ye ye ye ye ye ye ye ye ye ye




a. Developed an analytics mindset ye ye ye




b. Data scrubbing and data preparation
ye ye ye ye




c. Classification of test approaches ye ye ye




d. Statistical data analysis competency ye ye ye




Answer: c ye




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




a. Data quality ye




b. Descriptive data analysis ye ye




c. Data visualization and data reporting
ye ye ye ye




d. Data and systems analysis and design
ye ye ye ye ye




Answer: d ye




8. (LO 1-4) The IMPACT cycle includes all except the following steps:
ye ye ye ye ye ye ye ye ye ye




a. perform test plan. ye ye




b. visualize the data. ye ye




c. master the data. ye ye




d. track outcomes. ye




Answer: b ye




9. (LO 1-4) The IMPACT cycle specifically includes all except the following steps:
ye ye ye ye ye ye ye ye ye ye ye




a. data preparation.
ye



b. communicate insights. ye



c. address and refine results. ye ye ye




d. perform test plan. ye ye




4