Test Bank for Data Analytics for Accounting, 3rd Edition (McGraw Hill, 2022) by Vernon J. Richardson, Ryan A. Teeter and Katie Terrell, Isbn no; 9781265094454 , all 9 Chapters Covered

TEST BANK
DATA ANALYTICS FOR ACCOUNTING, 3RD EDITION
(MCGRAW HILL, 2022) BY VERNON J. RICHARDSON,
RYAN A. TEETER AND KATIE TERRELL, ISBN NO;
9781264444908, ALL 9 CHAPTERS COVERED




Page 1 of 173

,Test Bank for Data Analytics for Accounting, 3rd Edition (McGraw
Hill, 2022) by Vernon J. Richardson, Ryan A. Teeter and Katie
Terrell, Isbn no; 9781264444908, all 9 Chapters Covered
TABLE OF CONTENTS
1. Data Analytics for Accounting and Identifying the Questions


2. Mastering the Data


3. Performing the Test Plan and Analyzing the Results


4. Communicating Results and Visualizations


5. The Modern Accounting Environment


6. Audit Data Analytics


7. Managerial Analytics


8. Financial Statement Analytics


9. Tax Analytics




Page 2 of 173

, Test Bank for Data Analytics for Accounting, 3rd Edition
(McGraw Hill, 2022) by Vernon J. Richardson, Ryan A. Teeter and
Katie Terrell, Isbn no; 9781264444908, all 9 Chapters Covered
Chapter 1 3e (Answers Included at the end of each Chapter)
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 businesse’s, 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




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, 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.


⊚ true
⊚ false




8) The M in IMPACT Cycle represents Master the Data.
⊚ true
⊚ false




9) The P in IMPACT Cycle represents Predict the Results.
⊚ true
⊚ false




10) The A in IMPACT Cycle represents Analyze the Data.
⊚ true
⊚ false




11) The C in IMPACT Cycle represents Continuously Track.
⊚ true
⊚ false




12) The T in IMPACT Cycle represents Track Outcomes.


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