TEST BANK For Data Analytics for Accounting, 3rd Edition by Vernon Richardson, Verified Chapters 1 - 9, Complete latest updated Version.

TEST BANK FOR
Data Analytics for Accounting, 3rd Edition by Vernon Richardson, Teeter
Chapter 01 3e Answers Included ✅

TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Data analytics is the process of evaluating data with the purpose of drawing conclusions
to address business questions.
⊚ true
⊚ false


2) The process of data analytics aims to transform raw information into data to create value.
⊚ true
⊚ false


3) Data analytics has the potential to transform the manner in which companies run their
businesses, however it is not practical in the near future.
⊚ true
⊚ false


4) Auditors can use social media to hear what customers are saying about a company and
compare this to inventory obsolescence and other estimates.
⊚ true
⊚ false


5) Data analytics allows auditors to glean insights that are beneficial to the client, without
breeching independence.
⊚ true
⊚ false


6) The predictive analytics is an important aspect of data analytics for auditors, but is not
applicable for tax accountants.
⊚ true
⊚ false


7) The I in IMPACT Cycle represents Identify the Question.




SCHOLARVAULT

, ⊚ true
⊚ false


8) The #bvM #bvin #bvIMPACT #bvCycle #bvrepresents #bvMaster #bvthe #bvData.
⊚ true
⊚ false


9) The #bvP #bvin #bvIMPACT #bvCycle #bvrepresents #bvPredict #bvthe #bvResults.
⊚ true
⊚ false


10) The #bvA #bvin #bvIMPACT #bvCycle #bvrepresents #bvAnalyze #bvthe #bvData.
⊚ true
⊚ false


11) The #bvC #bvin #bvIMPACT #bvCycle #bvrepresents #bvContinuously #bvTrack.
⊚ true
⊚ false


12) The #bvT #bvin #bvIMPACT #bvCycle #bvrepresents #bvTrack #bvOutcomes.
⊚ true
⊚ false


13) The #bvIMPACT #bvcycle #bvis #bviterative, #bvas #bvinsights #bvare #bvgained, #bvoutcomes #bvare
#bvtracked, #bvand #bvnew #bvquestions #bvare #bvidentified.


⊚ true
⊚ false


14) Data #bvanalysis #bvthrough #bvdata #bvmanipulation #bvis #bvperforming #bvbasic #bvanalysis #bvto
#bvunderstand #bvthe #bvquality #bvof #bvthe #bvunderlying #bvdata #bvand #bvits #bvability #bvto #bvaddress #bvthe


#bvbusiness #bvquestion.


⊚ true
⊚ false




SCHOLARVAULT

,15) To #bvbe #bvproficient #bvin #bvdata #bvanalysis, #bvaccountants #bvneed #bvto #bvbecome #bvdata #bvscientists.
⊚ true
⊚ false


16) By#bvdeveloping #bvan #bvanalytics #bvmindset, #bvaccountants #bvwill #bvbe #bvable #bvto #bvrecognize
#bvwhen #bvand #bvhow #bvdata #bvanalytics #bvcan #bvaddress #bvbusiness #bvquestions.


⊚ true
⊚ false


17) While #bvit #bvis #bvimportant #bvfor #bvaccountants #bvto #bvclearly #bvarticulate #bvthe #bvbusiness
#bvproblem, #bvdrawing #bvappropriate #bvconclusions, #bvbased #bvon #bvthe #bvdata, #bvshould #bvbe #bvleft #bvto


#bvstatisticians.


⊚ true
⊚ false


18) Analytic-minded #bvaccountants #bvshould #bvreport #bvresults #bvof #bvanalysis #bvin #bvan
#bvaccessible #bvway #bvto #bveach #bvvaried #bvdecision #bvmaker #bvand #bvtheir #bvspecific #bvneeds.


⊚ true
⊚ false


MULTIPLE #bvCHOICE #bv- #bvChoose #bvthe #bvone #bvalternative #bvthat #bvbest #bvcompletes #bvthe
#bvstatement #bvor #bvanswers #bvthe #bvquestion.


19) With #bva #bvgoal #bvto #bvgive #bvorganizations #bvthe #bvinformation #bvthey#bvneed #bvto #bvmake
#bvsound #bvand #bvtimely #bvbusiness #bvdecisions, #bvdata #bvanalytics #bvoften #bvinvolves #bvall #bvof #bvthe


#bvfollowing # b v except:




A) technologies.
B) statistics.
C) strategies.
D) databases.



20) Patterns #bvdiscovered #bvfrom blank #bvenable #bvbusinesses #bvto #bvidentify
#bvopportunities #bvand #bvrisks #bvand #bvbetter #bvplan #bvfor blank.



SCHOLARVAULT

, A) past #bvarchives; #bvthe #bvfuture
B) current #bvdata; #bvthe #bvfuture
C) current #bvdata; #bvtoday
D) past #bvarchives; #bvtoday



21) Which #bvof #bvthe #bvfollowing #bvbest #bvdescribes #bvthe #bvgoal #bvof #bvdescriptive #bvdata #bvanalysis:

A) recognize #bvwhat #bvis #bvmeant #bvby #bvdata #bvquality, #bvbe #bvit #bvcompleteness, #bvreliability #bvor
#bvvalidity


B) perform #bvbasic #bvanalysis #bvto #bvunderstand #bvthe #bvquality#bvof #bvthe #bvunderlying #bvdata
#bvand #bvits #bvability #bvto #bvaddress #bvthe #bvbusiness #bvquestion


C) demonstrate #bvability#bvto #bvsort, #bvrearrange, #bvmerge, #bvand #bvreconfigure #bvdata #bvin #bva
#bvmanner #bvthat #bvallows #bvenhanced #bvanalysis


D) comprehend #bvthe #bvprocess #bvneeded #bvto #bvclean #bvand #bvprepare #bvthe #bvdata #bvbefore #bvanalysis



22) Which #bvof #bvthe #bvfollowing #bvMicrosoft #bvsoftware #bvtool #bvspecializes #bvin #bvdata #bvjoining?


A) Excel
B) Power #bvQuery
C) Power #bvBI
D) Power #bvAutomate



23) Which #bvof #bvthe #bvfollowing #bvMicrosoft #bvsoftware #bvtools #bvspecializes #bvin #bvcreating
#bvdashboards?




A) Excel
B) Power #bvQuery
C) Power #bvBI
D) Power #bvAutomate



24) Which #bvof #bvthe #bvfollowing #bvTableau #bvsoftware #bvtools #bvspecializes #bvin #bvdata #bvtransformation?




SCHOLARVAULT