TESTBANK|
DataAnalyticsforAccounting, 3rd Edition
| | | | |
by Vernon Richardson,Chapters 1 – 9
| | | | | |
,Chapter 1: Data Analytics for Accounting and Identifying the Questions
| | | | | | | | |
Chapter 2: Mastering the Data
| | | |
Chapter 3: Performing the Test Plan and Analyzing the Results Chapter 4:
| | | | | | | | | | |
Communicating Results and Visualizations
| | | |
Chapter 5: The Modern Accounting Environment Chapter 6: Audit
| | | | | | | |
Data Analytics
| |
Chapter 7: Managerial Analytics
| | |
Chapter 8: Financial Statement Analytics Chapter 9: Tax
| | | | | | |
Analytics
|
,Answers are at the End of Each Chapter
| | | | | | |
Chapter 01: |
Student name:| |
1) Data analytics is the process of evaluating data with the purpose of drawing
| | | | | | | | | | | |
conclusions toaddress business questions.
| | | |
⊚ true | |
⊚ false | |
2) The
|
process
create
| of data analytics aims to transform raw information into data to
value. |
| | | | | | | | | | |
⊚ true | |
⊚ false | |
3) Data analytics has the potential to transform the manner in which
| | | | | | | | | |
companies run theirbusinesses, 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 andcompare this to inventory obsolescence and other
| | | | | | | |
estimates.
|
⊚ true | |
⊚ false | |
5) Data analytics allows auditors to glean insights that are beneficial to
| | | | | | | | | |
the client, withoutbreeching independence.
| | | |
⊚ true | |
⊚ false | |
, 6) The predictive analytics is an important aspect of data analytics for
| | | | | | | | | |
auditors, but is notapplicable 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.
| | | | | | |
⊚ true | |
⊚ false | |
DataAnalyticsforAccounting, 3rd Edition
| | | | |
by Vernon Richardson,Chapters 1 – 9
| | | | | |
,Chapter 1: Data Analytics for Accounting and Identifying the Questions
| | | | | | | | |
Chapter 2: Mastering the Data
| | | |
Chapter 3: Performing the Test Plan and Analyzing the Results Chapter 4:
| | | | | | | | | | |
Communicating Results and Visualizations
| | | |
Chapter 5: The Modern Accounting Environment Chapter 6: Audit
| | | | | | | |
Data Analytics
| |
Chapter 7: Managerial Analytics
| | |
Chapter 8: Financial Statement Analytics Chapter 9: Tax
| | | | | | |
Analytics
|
,Answers are at the End of Each Chapter
| | | | | | |
Chapter 01: |
Student name:| |
1) Data analytics is the process of evaluating data with the purpose of drawing
| | | | | | | | | | | |
conclusions toaddress business questions.
| | | |
⊚ true | |
⊚ false | |
2) The
|
process
create
| of data analytics aims to transform raw information into data to
value. |
| | | | | | | | | | |
⊚ true | |
⊚ false | |
3) Data analytics has the potential to transform the manner in which
| | | | | | | | | |
companies run theirbusinesses, 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 andcompare this to inventory obsolescence and other
| | | | | | | |
estimates.
|
⊚ true | |
⊚ false | |
5) Data analytics allows auditors to glean insights that are beneficial to
| | | | | | | | | |
the client, withoutbreeching independence.
| | | |
⊚ true | |
⊚ false | |
, 6) The predictive analytics is an important aspect of data analytics for
| | | | | | | | | |
auditors, but is notapplicable 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.
| | | | | | |
⊚ true | |
⊚ false | |
