TEST BANK %ty
For
Data and Analytics in Accounting: An Integrated Approach
%ty %ty %ty %ty %ty %ty %ty
1st Edition
%ty %ty
by Ann C. Dzuranin, Guido Geerts, Margarita Lenk
%ty %ty %ty %ty %ty %ty %ty
♦️♦️♦️All %ty %ty Chapters %ty %ty Included %ty %ty ✅✅✅
♦️♦️♦️All % t y % t y % t y Answers % t y % t y % t y Included✅✅✅
,Chapter 1 D a t a and Analytics in the Accounting Profession
1) One key feature of self-service business intelligence (SSBI) software is that
A) it is easy to use.
B) it costs less to implement.
C) it connects to multiple data sources.
D) it provides dashboarding capabilities.
Answer: A
Explanation: There are two key features of SSBI software: it provides extended data processing
capabilities for preparing data, analyzing data, and reporting data analysis results; and it is easy to
use.
Diff: 1
LO: 1-1
Bloom: C
Min.: 1
AACSB: Analytic
AICPA: FC: Measurement, Analysis, and Interpretation
2) Alteryx is an example of SSBI software that can
A) replace Excel since it can provide more complex functions.
B) replace a database since it can store transactional data.
C) replace the data warehouse.
D) be used to clean data by removing null values or removing leading or trailing spaces.
Answer: D
Explanation: There are two key features of SSBI software: it provides extended data processing
capabilities for preparing data, analyzing data, and reporting data analysis results; and it is easy to
use.
Diff: 1
LO: 1-1
Bloom: C
Min.: 1
AACSB: Analytic
AICPA: FC: Measurement, Analysis, and Interpretation
All Chapters Included ⬛⬛⬛
All Answers Included ⬛⬛⬛
,3) How %tyhas %tydata %tyanalytics %tychanged %tythe %tyaudit %typrofession?
A) The %tycost %tyof %tyaudit %tyengagements %tyhas %tyincreased %tydue %tyto %tythe %tygrowing %tydata %tyvolume
%tythat %tyneeds %tyto %tybe %tyvalidated.
B) The %tycost %tyof %tyaudit %tyengagements %tyhas %tydecreased %tysince %tythe %tydata %tythat %tyis %tyreceived
%tyfrom %tyclients %tyare %tymore %tytrustworthy.
C) An %tyauditor %tycan %tynow %tyanalyze %tythe %tyentire %typopulation %tyof %tyaudit-relevant %tydata %tyfor
%tyexceptions %tyor %tyoutliers.
D) There %tyis %tya %tygreater %tyassurance %tythat %tyfinancial %tystatements %tydo %tynot %tyhave %tymaterial
%tymisstatement %tysince %tythe %tydata %tyis %tymore %tytimely %tyand %tycomplete.
Answer: % t y % t y C
Explanation: % t y Self-service %tybusiness %tyintelligence %tytools %tyhas %tyempowered %tyaccountants %tyto
%tyuse %tydata %tyand %tyanalytics %tyto %typrovide %tyvalue-added %tyservices %tyto %tytheir %tyclients %tyand
%tyemployers.
Diff: %ty2
LO: % t y % t y 1-1
Bloom:
%ty AP
%tyMin.: % t y 1
AACSB: % t y % t y Analytic
AICPA: % t y % t y FC: %tyMeasurement, %tyAnalysis, %tyand %tyInterpretation
4) Data %tyanalytics %tyis
A) the %typrocess %tyof %tyanalyzing %tyraw %tydata %tyto %tyanswer %tyquestions %tyor %typrovide %tyinsights.
B) the %typrocess %tyof %tystoring %tyrelevant %tyraw %tydata %tyso %tythat %tydata %tycan %tybe %tyanalyzed.
C) the %typrocess %tyof %tycleaning %tydata %tyso %tythat %tydata %tycan %tybe %tymore %tytrustworthy.
D) the %typrocess %tyof %tyusing %tymachine %tylearning %tyand %typredictive
%tymodeling. %tyAnswer: % t y A
Explanation: % t y Data %tyanalytics %tyis %tythe %typrocess %tyof %tyanalyzing %tyraw %tydata %tyto %tyanswer
%tyquestions %tyor %typrovide %tyinsights.
Diff: %ty1
LO: % t y % t y 1-1
Bloom: %tyC
%tyMin.: % t y 1
AACSB: % t y % t y Analytic
AICPA: % t y % t y FC: %tyMeasurement, %tyAnalysis, %tyand %tyInterpretation
5) Robotic %typrocess %tyautomation %ty(RPA) %tysoftware %tyis %tybeing %tyused %tyto
A) build %tyartificial %tyintelligence %tymodels %tyto %tyeliminate %tymanual %tyaudit %tytasks.
B) analyze %tyauditing %tydata %tyand %typerforming %tysubstantive %tytests.
C) audit %tysample-based %tytesting %tyso %tythat %tyauditors %tycan %tyfocus %tyon %tyanalysis %tyand %typrovide %tyvaluable
%tyinsights.
D) automate %tymanual %tytasks %tyso %tythat %tyauditors %tycan %tyfocus %tyon %tymore
%tystrategic %tytasks. %tyAnswer: % t y D
Explanation: % t y RPA %tycan %tybe %tyused %tyto %typerform %tyroutine %tyfinancial %tyaccounting %tyfunctions
%tysuch %tyas %tyrecording %tyjournal %tyentries, %tycreating %tytrial %tybalances, %tydoing %typreliminary %tyaccount
%tyanalyses, %tyand %tycreating %tyfinancial %tystatements %tyto %tylet %tyaccountants %tyspend %tymore %tytime
%tyanalyzing %tydata %tyfor %tyinsights.
Diff: %ty1
LO: % t y % t y 1-1
Bloom: %tyC
%tyMin.: % t y 1
, AACSB: % t y %ty Analytic
For
Data and Analytics in Accounting: An Integrated Approach
%ty %ty %ty %ty %ty %ty %ty
1st Edition
%ty %ty
by Ann C. Dzuranin, Guido Geerts, Margarita Lenk
%ty %ty %ty %ty %ty %ty %ty
♦️♦️♦️All %ty %ty Chapters %ty %ty Included %ty %ty ✅✅✅
♦️♦️♦️All % t y % t y % t y Answers % t y % t y % t y Included✅✅✅
,Chapter 1 D a t a and Analytics in the Accounting Profession
1) One key feature of self-service business intelligence (SSBI) software is that
A) it is easy to use.
B) it costs less to implement.
C) it connects to multiple data sources.
D) it provides dashboarding capabilities.
Answer: A
Explanation: There are two key features of SSBI software: it provides extended data processing
capabilities for preparing data, analyzing data, and reporting data analysis results; and it is easy to
use.
Diff: 1
LO: 1-1
Bloom: C
Min.: 1
AACSB: Analytic
AICPA: FC: Measurement, Analysis, and Interpretation
2) Alteryx is an example of SSBI software that can
A) replace Excel since it can provide more complex functions.
B) replace a database since it can store transactional data.
C) replace the data warehouse.
D) be used to clean data by removing null values or removing leading or trailing spaces.
Answer: D
Explanation: There are two key features of SSBI software: it provides extended data processing
capabilities for preparing data, analyzing data, and reporting data analysis results; and it is easy to
use.
Diff: 1
LO: 1-1
Bloom: C
Min.: 1
AACSB: Analytic
AICPA: FC: Measurement, Analysis, and Interpretation
All Chapters Included ⬛⬛⬛
All Answers Included ⬛⬛⬛
,3) How %tyhas %tydata %tyanalytics %tychanged %tythe %tyaudit %typrofession?
A) The %tycost %tyof %tyaudit %tyengagements %tyhas %tyincreased %tydue %tyto %tythe %tygrowing %tydata %tyvolume
%tythat %tyneeds %tyto %tybe %tyvalidated.
B) The %tycost %tyof %tyaudit %tyengagements %tyhas %tydecreased %tysince %tythe %tydata %tythat %tyis %tyreceived
%tyfrom %tyclients %tyare %tymore %tytrustworthy.
C) An %tyauditor %tycan %tynow %tyanalyze %tythe %tyentire %typopulation %tyof %tyaudit-relevant %tydata %tyfor
%tyexceptions %tyor %tyoutliers.
D) There %tyis %tya %tygreater %tyassurance %tythat %tyfinancial %tystatements %tydo %tynot %tyhave %tymaterial
%tymisstatement %tysince %tythe %tydata %tyis %tymore %tytimely %tyand %tycomplete.
Answer: % t y % t y C
Explanation: % t y Self-service %tybusiness %tyintelligence %tytools %tyhas %tyempowered %tyaccountants %tyto
%tyuse %tydata %tyand %tyanalytics %tyto %typrovide %tyvalue-added %tyservices %tyto %tytheir %tyclients %tyand
%tyemployers.
Diff: %ty2
LO: % t y % t y 1-1
Bloom:
%ty AP
%tyMin.: % t y 1
AACSB: % t y % t y Analytic
AICPA: % t y % t y FC: %tyMeasurement, %tyAnalysis, %tyand %tyInterpretation
4) Data %tyanalytics %tyis
A) the %typrocess %tyof %tyanalyzing %tyraw %tydata %tyto %tyanswer %tyquestions %tyor %typrovide %tyinsights.
B) the %typrocess %tyof %tystoring %tyrelevant %tyraw %tydata %tyso %tythat %tydata %tycan %tybe %tyanalyzed.
C) the %typrocess %tyof %tycleaning %tydata %tyso %tythat %tydata %tycan %tybe %tymore %tytrustworthy.
D) the %typrocess %tyof %tyusing %tymachine %tylearning %tyand %typredictive
%tymodeling. %tyAnswer: % t y A
Explanation: % t y Data %tyanalytics %tyis %tythe %typrocess %tyof %tyanalyzing %tyraw %tydata %tyto %tyanswer
%tyquestions %tyor %typrovide %tyinsights.
Diff: %ty1
LO: % t y % t y 1-1
Bloom: %tyC
%tyMin.: % t y 1
AACSB: % t y % t y Analytic
AICPA: % t y % t y FC: %tyMeasurement, %tyAnalysis, %tyand %tyInterpretation
5) Robotic %typrocess %tyautomation %ty(RPA) %tysoftware %tyis %tybeing %tyused %tyto
A) build %tyartificial %tyintelligence %tymodels %tyto %tyeliminate %tymanual %tyaudit %tytasks.
B) analyze %tyauditing %tydata %tyand %typerforming %tysubstantive %tytests.
C) audit %tysample-based %tytesting %tyso %tythat %tyauditors %tycan %tyfocus %tyon %tyanalysis %tyand %typrovide %tyvaluable
%tyinsights.
D) automate %tymanual %tytasks %tyso %tythat %tyauditors %tycan %tyfocus %tyon %tymore
%tystrategic %tytasks. %tyAnswer: % t y D
Explanation: % t y RPA %tycan %tybe %tyused %tyto %typerform %tyroutine %tyfinancial %tyaccounting %tyfunctions
%tysuch %tyas %tyrecording %tyjournal %tyentries, %tycreating %tytrial %tybalances, %tydoing %typreliminary %tyaccount
%tyanalyses, %tyand %tycreating %tyfinancial %tystatements %tyto %tylet %tyaccountants %tyspend %tymore %tytime
%tyanalyzing %tydata %tyfor %tyinsights.
Diff: %ty1
LO: % t y % t y 1-1
Bloom: %tyC
%tyMin.: % t y 1
, AACSB: % t y %ty Analytic
