TEST BANK FOR Data Analytics for Accounting 3rd Edition by Vernon Richardson, Ryan A. Teeter & Katie L. Terrell , ISBN: 9781264444908 Chapter 1-9 |Complete Newest Version| Guide A+

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Data Analytics for Accounting, 3rd Edition Richardson Chapter
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1-9
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Answers are at the End of Each Chapter
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Chapter 01: f



Student name: f



1) Data analytics is the process of evaluating data with the purpose of drawing conclusions to
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address business questions.
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2) The process of data analytics aims to transform raw information into data to create value.
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3) Data analytics has the potential to transform the manner in which companies run their
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businesses, however it is not practical in the near future.
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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.
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5) Data analytics allows auditors to glean insights that are beneficial to the client, without
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breeching independence.
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, 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


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7) The I in IMPACT Cycle represents Identify the Question.
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8) The M in IMPACT Cycle represents Master the Data.
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9) The P in IMPACT Cycle represents Predict the Results.
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10) The A in IMPACT Cycle represents Analyze the Data.
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11) The C in IMPACT Cycle represents Continuously Track.
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12) The T in IMPACT Cycle represents Track Outcomes.
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