Test Bank for Introduction to Data Analytics for Accounting, 2nd Edition by Vernon Richardson|ultimate guide 100% verified.

,Data89Analytics89for89Accounting,892e89(Richardson)89C
hapter8918 9 Data89Analytics89in89Accounting89and89Bu
siness

1) Data89analytics89is89the89process89of89evaluating89data89with89the89purpose89of89drawing89c
onclusions89to89address89business89questions.

Answer:8 9 TRUE89D
ifficulty:89189Easy
Topic:8 9 Define89Data89Analytics
Learning89Objective:8 9 01-
0189Define89Data89Analytics.89Bloom's:8 9 Remember
AACSB:8 9 Reflective89Thinking
AICPA:8 9 BB89Industry;89FN89Decision89Making

2) The89process89of89data89analytics89aims89to89transform89raw89information89into89data89to89create8
9value.


Answer:8 9 FALSE89
Difficulty:89189Easy
Topic:8 9 Define89Data89Analytics
Learning89Objective:8 9 01-
0189Define89Data89Analytics.89Bloom's:8 9 Remember
AACSB:8 9 Reflective89Thinking
AICPA:8 9 BB89Industry;89FN89Decision89Making

3) Data89analytics89has89the89potential89to89transform89the89manner89in89which89compani
es89run89their89businesses;89however,89it89is89not89practical89in89the89near89future.

Answer:8 9 FALSE89
Difficulty:89189Easy
Topic:8 9 How89Data89Analytics89Affects89Business
Learning89Objective:8 9 01-
0289Understand89why89Data89Analytics89matters89to89business.89Bloom's:8 9 Rememb
er
AACSB:8 9 Reflective89Thinking
AICPA:8 9 BB89Industry;89FN89Decision89Making

4) Auditors89can89use89social89media89to89hear89what89customers89are89saying89about89a89
company89and89compare89this89to89inventory89obsolescence89and89other89estimates.

Answer:8 9 TRUE89D
ifficulty:89289Medium
Topic:8 9 Financial89Reporting
Learning89Objective:8 9 01-
0389Explain89why89Data89Analytics89matters89to89accountants.89Bloom's:8 9 Understa
nd
1
Copyright89201989©89McGraw-
Hill89Education.89All89rights89reserved.89No89reproduction89or89distribution89without89the89prior89written89con
sent89of89McGraw-Hill89Education.

,AACSB:8 9 Reflective89Thinking
AICPA:8 9 BB89Industry;89FN89Decision89Making




2
Copyright89201989©89McGraw-
Hill89Education.89All89rights89reserved.89No89reproduction89or89distribution89without89the89prior89written89con
sent89of89McGraw-Hill89Education.

, 5) Data89analytics89allows89auditors89to89glean89insights89that89are89beneficial89to89the89cli
ent,89without89breaching89independence.

Answer:8 9 TRUE89D
ifficulty:89289Medium
89Topic:8 9 Auditing
Learning89Objective:8 9 01-
0389Explain89why89Data89Analytics89matters89to89accountants.89Bloom's:8 9 Rememb
er
AACSB:8 9 Reflective89Thinking
AICPA:8 9 BB89Industry;89FN89Decision89Making

6) The89predictive89analytics89is89an89important89aspect89of89data89analytics89for89auditor
s,89but89is89not89applicable89for89tax89accountants.

Answer:89FALSE
89Difficulty:89189E
asy89Topic:8 9 Tax
Learning89Objective:8 9 01-
0389Explain89why89Data89Analytics89matters89to89accountants.89Bloom's:8 9 Und
erstand
AACSB:8 9 Reflective89Thinking
AICPA:8 9 BB89Industry;89FN89Decision89Making

7) The89I89in89IMPACT89Cycle89represents89Identify89the89Question.

Answer:8 9 TRUE89D
ifficulty:89289Medium
Topic:8 9 The89Data89Analytics89Process89Using89the89Impact89Cycle
Learning89Objective:8 9 01-
0489Describe89the89Data89Analytics89Process89Using89the89IMPACT89Cycle.89Bloom's:8 9 Remembe
r
AACSB:8 9 Reflective89Thinking
AICPA:8 9 BB89Industry;89FN89Decision89Making

8) The89M89in89IMPACT89Cycle89represents89Master89the89Data.

Answer:8 9 TRUE89D
ifficulty:89289Medium
Topic:8 9 The89Data89Analytics89Process89Using89the89Impact89Cycle
Learning89Objective:8 9 01-
0489Describe89the89Data89Analytics89Process89Using89the89IMPACT89Cycle.89Bloom's:8 9 Remembe
r
AACSB:8 9 Reflective89Thinking
AICPA:8 9 BB89Industry;89FN89Decision89Making


3
Copyright89201989©89McGraw-
Hill89Education.89All89rights89reserved.89No89reproduction89or89distribution89without89the89prior89written89con
sent89of89McGraw-Hill89Education.