Solution Manual For Data Analytics for Accounting, 3rd Edition Richardson

1

,Chapter1:DataAnalyticsforAccountingandIdentifyingtheQuestions Chapter2:MasteringtheData
n n n n n n n n n n n n n n




Chapter3:PerformingtheTestPlanandAnalyzingtheResults Chapter4:CommunicatingResultsandVisualizations
n n n n n n n n n n n n n n n




Chapter5:TheModernAccountingEnvironment Chapter6:AuditDataAnalytics
n n n n n n n n n n




Chapter7:ManagerialAnalytics
n n n




Chapter8:FinancialStatementAnalytics Chapter9:TaxAnalytics
n n n n n n n n




2

,SolutionsManual – Chapter 1
n n n n




SolutionstoMultipleChoiceQuestions
n n n n




1. (LO1-1)BigData is oftendescribed bythefourVs, or
n n n n n n n n n n n




a. volume,velocity,veracity,andvariability.
n n n n




b. volume,velocity,veracity,andvariety.n n n n




c. volume,volatility,veracity,andvariability.
n n n n




d. variability,velocity,veracity,andvariety. n n n n




Answer:b n




2. LO1-4) Whichdata approach attempts toassign eachunit ina populationintoa smallset ofclasses
n n n n n n n n n n n n n n n n n




(orgroups)where theunit bestfits?
n n n n n n n




a. Regression
b. Similaritymatching n




c. Co-occurrencegrouping n




d. Classification

Answer:d n




3. (LO1-4)Whichdataapproachattempts toidentifysimilar individuals basedon data
n n n n n n n n n n n n




knownaboutthem?
n n




a. Classification
b. Regression
c. Similaritymatching n




d. Datareduction n




Answer:c n




4. (LO1-4)Whichdataapproachattempts topredict connections betweentwodataitems?
n n n n n n n n n n n n




a. Profiling
b. Classification
c. Linkprediction n




d. Regression




3

, Answer:c n




5. (LO1-6)Whichoftheseterms is defined as being a central repositoryof descriptions forall of thedata
n n n n n n n n n n n n n n n n n n n




attributesofthe dataset?
n n n n




a. BigData n




b. Datawarehouse n




c. Datadictionary n




d. DataAnalytics n




Answer:c n




6. (LO1-5)Whichskillswerenotemphasizedthatanalytic-mindedaccountants shouldhave?
n n n n n n n n n n n




a. Developedananalyticsmindset n n n




b. Datascrubbinganddatapreparation n n n n




c. Classification oftestapproaches n n n




d. Statisticaldataanalysiscompetency n n n




Answer:c n




7. (LO1-5) Inwhichareaswere skillsnotemphasizedforanalytic-mindedaccountants?
n n n n n n n n n n n




a. Dataquality n




b. Descriptivedataanalysis n n




c. Datavisualizationand datareporting
n n n n




d. Dataandsystems analysis anddesign
n n n n n




Answer:d n




8. (LO1-4) TheIMPACTcycleincludesallexcept thefollowingsteps:
n n n n n n n n n n




a. performtestplan. n n




b. visualizethedata. n n




c. masterthedata. n n




d. trackoutcomes. n




Answer:b n




9. (LO1-4)TheIMPACTcyclespecificallyincludes all exceptthefollowingsteps:
n n n n n n n n n n n




a. datapreparation. n




b. communicateinsights. n




c. addressandrefineresults. n n n




d. performtestplan. n n




4