TEST BANK FOR
#z #z
Data Analytics for Accounting, 3rd Edition by Vernon Richardson, Teeter
#z #z #z #z #z #z #z #z #z
Chapter 01 3e
#z #z
Answers Included ✅
#z
TRUE/FALSE #z- #zWrite #z'T' #zif #zthe #zstatement #zis #ztrue #zand #z'F' #zif #zthe #zstatement #zis #zfalse.
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.
, ⊚ true
⊚ false
8) The #zM #zin #zIMPACT #zCycle #zrepresents #zMaster #zthe #zData.
⊚ true
⊚ false
9) The #zP #zin #zIMPACT #zCycle #zrepresents #zPredict #zthe #zResults.
⊚ true
⊚ false
10) The #zA #zin #zIMPACT #zCycle #zrepresents #zAnalyze #zthe #zData.
⊚ true
⊚ false
11) The #zC #zin #zIMPACT #zCycle #zrepresents #zContinuously #zTrack.
⊚ true
⊚ false
12) The #zT #zin #zIMPACT #zCycle #zrepresents #zTrack #zOutcomes.
⊚ true
⊚ false
13) The #zIMPACT #zcycle #zis #ziterative, #zas #zinsights #zare #zgained, #zoutcomes #zare #ztracked,
#zand #znew #zquestions #zare #zidentified.
⊚ true
⊚ false
14) Data #zanalysis #zthrough #zdata #zmanipulation #zis #zperforming #zbasic #zanalysis #zto
#zunderstand #zthe #zquality #zof #zthe #zunderlying #zdata #zand #zits #zability #zto #zaddress #zthe #zbusiness
#zquestion.
⊚ true
⊚ false
,15) To #zbe #zproficient #zin #zdata #zanalysis, #zaccountants #zneed #zto #zbecome #zdata #zscientists.
⊚ true
⊚ false
16) By#zdeveloping #zan #zanalytics #zmindset, #zaccountants #zwill #zbe #zable #zto #zrecognize #zwhen
#zand #zhow #zdata #zanalytics #zcan #zaddress #zbusiness #zquestions.
⊚ true
⊚ false
17) While #zit #zis #zimportant #zfor #zaccountants #zto #zclearly #zarticulate #zthe #zbusiness #zproblem,
#zdrawing #zappropriate #zconclusions, #zbased #zon #zthe #zdata, #zshould #zbe #zleft #zto #zstatisticians.
⊚ true
⊚ false
18) Analytic-minded #zaccountants #zshould #zreport #zresults #zof #zanalysis #zin #zan #zaccessible
#zway #zto #zeach #zvaried #zdecision #zmaker #zand #ztheir #zspecific #zneeds.
⊚ true
⊚ false
MULTIPLE #zCHOICE #z- #zChoose #zthe #zone #zalternative #zthat #zbest #zcompletes #zthe #zstatement
#zor #zanswers #zthe #zquestion.
19) With #za #zgoal #zto #zgive #zorganizations #zthe #zinformation #zthey#zneed #zto #zmake #zsound #zand
#ztimely #zbusiness #zdecisions, #zdata #zanalytics #zoften #zinvolves #zall #zof #zthe #zfollowing # z except:
A) technologies.
B) statistics.
C) strategies.
D) databases.
20) Patterns #zdiscovered #zfrom blank #zenable #zbusinesses #zto #zidentify
#zopportunities #zand #zrisks #zand #zbetter #zplan #zfor blank.
, A) past #zarchives; #zthe #zfuture
B) current #zdata; #zthe #zfuture
C) current #zdata; #ztoday
D) past #zarchives; #ztoday
21) Which #zof #zthe #zfollowing #zbest #zdescribes #zthe #zgoal #zof #zdescriptive #zdata #zanalysis:
A) recognize #zwhat #zis #zmeant #zby #zdata #zquality, #zbe #zit #zcompleteness, #zreliability #zor #zvalidity
B) perform #zbasic #zanalysis #zto #zunderstand #zthe #zquality #zof #zthe #zunderlying #zdata #zand #zits
#zability #zto #zaddress #zthe #zbusiness #zquestion
C) demonstrate #zability#zto #zsort, #zrearrange, #zmerge, #zand #zreconfigure #zdata #zin #za
#zmanner #zthat #zallows #zenhanced #zanalysis
D) comprehend #zthe #zprocess #zneeded #zto #zclean #zand #zprepare #zthe #zdata #zbefore #zanalysis
22) Which #zof #zthe #zfollowing #zMicrosoft #zsoftware #ztool #zspecializes #zin #zdata #zjoining?
A) Excel
B) Power #zQuery
C) Power #zBI
D) Power #zAutomate
23) Which #zof #zthe #zfollowing #zMicrosoft #zsoftware #ztools #zspecializes #zin #zcreating #zdashboards?
A) Excel
B) Power #zQuery
C) Power #zBI
D) Power #zAutomate
24) Which #zof #zthe #zfollowing #zTableau #zsoftware #ztools #zspecializes #zin #zdata
#ztransformation?
#z #z
Data Analytics for Accounting, 3rd Edition by Vernon Richardson, Teeter
#z #z #z #z #z #z #z #z #z
Chapter 01 3e
#z #z
Answers Included ✅
#z
TRUE/FALSE #z- #zWrite #z'T' #zif #zthe #zstatement #zis #ztrue #zand #z'F' #zif #zthe #zstatement #zis #zfalse.
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.
, ⊚ true
⊚ false
8) The #zM #zin #zIMPACT #zCycle #zrepresents #zMaster #zthe #zData.
⊚ true
⊚ false
9) The #zP #zin #zIMPACT #zCycle #zrepresents #zPredict #zthe #zResults.
⊚ true
⊚ false
10) The #zA #zin #zIMPACT #zCycle #zrepresents #zAnalyze #zthe #zData.
⊚ true
⊚ false
11) The #zC #zin #zIMPACT #zCycle #zrepresents #zContinuously #zTrack.
⊚ true
⊚ false
12) The #zT #zin #zIMPACT #zCycle #zrepresents #zTrack #zOutcomes.
⊚ true
⊚ false
13) The #zIMPACT #zcycle #zis #ziterative, #zas #zinsights #zare #zgained, #zoutcomes #zare #ztracked,
#zand #znew #zquestions #zare #zidentified.
⊚ true
⊚ false
14) Data #zanalysis #zthrough #zdata #zmanipulation #zis #zperforming #zbasic #zanalysis #zto
#zunderstand #zthe #zquality #zof #zthe #zunderlying #zdata #zand #zits #zability #zto #zaddress #zthe #zbusiness
#zquestion.
⊚ true
⊚ false
,15) To #zbe #zproficient #zin #zdata #zanalysis, #zaccountants #zneed #zto #zbecome #zdata #zscientists.
⊚ true
⊚ false
16) By#zdeveloping #zan #zanalytics #zmindset, #zaccountants #zwill #zbe #zable #zto #zrecognize #zwhen
#zand #zhow #zdata #zanalytics #zcan #zaddress #zbusiness #zquestions.
⊚ true
⊚ false
17) While #zit #zis #zimportant #zfor #zaccountants #zto #zclearly #zarticulate #zthe #zbusiness #zproblem,
#zdrawing #zappropriate #zconclusions, #zbased #zon #zthe #zdata, #zshould #zbe #zleft #zto #zstatisticians.
⊚ true
⊚ false
18) Analytic-minded #zaccountants #zshould #zreport #zresults #zof #zanalysis #zin #zan #zaccessible
#zway #zto #zeach #zvaried #zdecision #zmaker #zand #ztheir #zspecific #zneeds.
⊚ true
⊚ false
MULTIPLE #zCHOICE #z- #zChoose #zthe #zone #zalternative #zthat #zbest #zcompletes #zthe #zstatement
#zor #zanswers #zthe #zquestion.
19) With #za #zgoal #zto #zgive #zorganizations #zthe #zinformation #zthey#zneed #zto #zmake #zsound #zand
#ztimely #zbusiness #zdecisions, #zdata #zanalytics #zoften #zinvolves #zall #zof #zthe #zfollowing # z except:
A) technologies.
B) statistics.
C) strategies.
D) databases.
20) Patterns #zdiscovered #zfrom blank #zenable #zbusinesses #zto #zidentify
#zopportunities #zand #zrisks #zand #zbetter #zplan #zfor blank.
, A) past #zarchives; #zthe #zfuture
B) current #zdata; #zthe #zfuture
C) current #zdata; #ztoday
D) past #zarchives; #ztoday
21) Which #zof #zthe #zfollowing #zbest #zdescribes #zthe #zgoal #zof #zdescriptive #zdata #zanalysis:
A) recognize #zwhat #zis #zmeant #zby #zdata #zquality, #zbe #zit #zcompleteness, #zreliability #zor #zvalidity
B) perform #zbasic #zanalysis #zto #zunderstand #zthe #zquality #zof #zthe #zunderlying #zdata #zand #zits
#zability #zto #zaddress #zthe #zbusiness #zquestion
C) demonstrate #zability#zto #zsort, #zrearrange, #zmerge, #zand #zreconfigure #zdata #zin #za
#zmanner #zthat #zallows #zenhanced #zanalysis
D) comprehend #zthe #zprocess #zneeded #zto #zclean #zand #zprepare #zthe #zdata #zbefore #zanalysis
22) Which #zof #zthe #zfollowing #zMicrosoft #zsoftware #ztool #zspecializes #zin #zdata #zjoining?
A) Excel
B) Power #zQuery
C) Power #zBI
D) Power #zAutomate
23) Which #zof #zthe #zfollowing #zMicrosoft #zsoftware #ztools #zspecializes #zin #zcreating #zdashboards?
A) Excel
B) Power #zQuery
C) Power #zBI
D) Power #zAutomate
24) Which #zof #zthe #zfollowing #zTableau #zsoftware #ztools #zspecializes #zin #zdata
#ztransformation?
