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Data Analytics for
Accounting, 3rd
ST
Edition
UV
TEST BANK
IA
_A
Vernon J. Richardson, Ryan A. Teeter, Katie L.
PP
Terrell
RO
Comprehensive Test Bank for Instructors and
Students
VE
||| ||| || ||| || | || ||| | || ||| |
9781264444908
D?
© Vernon J. Richardson, Ryan A. Teeter & Katie L. Terrell.
All rights reserved. Reproduction or distribution without
permission is prohibited.
© MEDCONNOISSEUR
, TABLE OF CONTENTS
Test Bank – Data Analytics for Accounting (3rd Ed.)
Authors: Vernon J. Richardson, Ryan A. Teeter, and Katie L. Terrell
ISBN: 9781264444908
ST
PART I: THE DATA ANALYTICS FRAMEWORK
Chapter 1: Data Analytics for Accounting and Identifying the Questions
Chapter 2: Mastering the Data
UV
Chapter 3: Performing the Test Plan and Analyzing the Results
Chapter 4: Communicating Results and Visualizations
PART II: APPLICATIONS OF DATA ANALYTICS IN ACCOUNTING
Chapter 5: The Modern Accounting Environment
IA
Chapter 6: Audit Data Analytics
Chapter 7: Managerial Analytics
Chapter 8: Financial Statement Analytics
Chapter 9: Tax Analytics
_A
PART III: CAPSTONE PROJECTS
Chapter 10: Project Chapter (Basic)
Chapter 11: Project Chapter (Advanced): Analyzing Dillard’s Data to Predict Sales Returns
PP
RO
VE
D?
,Test Bank Data Analytics for Accounting, 3rd Edition by Vernon Richardson, Teeter
Chapter 01 3e Answers Included ✅
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.
ST
⊚ true
⊚ false
UV
2) The process of data analytics aims to transform raw information into data to create value.
⊚ true
⊚ false
IA
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
_A
⊚ 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.
PP
⊚ true
⊚ false
RO
5) Data analytics allows auditors to glean insights that are beneficial to the client, without
breeching independence.
⊚ true
⊚ false
VE
6) The predictive analytics is an important aspect of data analytics for auditors, but is not
applicable for tax accountants.
⊚ true
D?
⊚ false
7) The I in IMPACT Cycle represents Identify the Question.
1
, ⊚ true
⊚ false
8) The M in IMPACT Cycle represents Master the Data.
ST
⊚ true
⊚ false
UV
9) The P in IMPACT Cycle represents Predict the Results.
⊚ true
⊚ false
IA
10) The A in IMPACT Cycle represents Analyze the Data.
⊚ true
⊚ false
_A
11) The C in IMPACT Cycle represents Continuously Track.
⊚ true
PP
⊚ false
12) The T in IMPACT Cycle represents Track Outcomes.
⊚ true
RO
⊚ false
13) The IMPACT cycle is iterative, as insights are gained, outcomes are tracked, and new
questions are identified.
VE
⊚ true
⊚ false
D?
14) Data analysis through data manipulation is performing basic analysis to understand the
quality of the underlying data and its ability to address the business question.
⊚ true
⊚ false
2
Data Analytics for
Accounting, 3rd
ST
Edition
UV
TEST BANK
IA
_A
Vernon J. Richardson, Ryan A. Teeter, Katie L.
PP
Terrell
RO
Comprehensive Test Bank for Instructors and
Students
VE
||| ||| || ||| || | || ||| | || ||| |
9781264444908
D?
© Vernon J. Richardson, Ryan A. Teeter & Katie L. Terrell.
All rights reserved. Reproduction or distribution without
permission is prohibited.
© MEDCONNOISSEUR
, TABLE OF CONTENTS
Test Bank – Data Analytics for Accounting (3rd Ed.)
Authors: Vernon J. Richardson, Ryan A. Teeter, and Katie L. Terrell
ISBN: 9781264444908
ST
PART I: THE DATA ANALYTICS FRAMEWORK
Chapter 1: Data Analytics for Accounting and Identifying the Questions
Chapter 2: Mastering the Data
UV
Chapter 3: Performing the Test Plan and Analyzing the Results
Chapter 4: Communicating Results and Visualizations
PART II: APPLICATIONS OF DATA ANALYTICS IN ACCOUNTING
Chapter 5: The Modern Accounting Environment
IA
Chapter 6: Audit Data Analytics
Chapter 7: Managerial Analytics
Chapter 8: Financial Statement Analytics
Chapter 9: Tax Analytics
_A
PART III: CAPSTONE PROJECTS
Chapter 10: Project Chapter (Basic)
Chapter 11: Project Chapter (Advanced): Analyzing Dillard’s Data to Predict Sales Returns
PP
RO
VE
D?
,Test Bank Data Analytics for Accounting, 3rd Edition by Vernon Richardson, Teeter
Chapter 01 3e Answers Included ✅
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.
ST
⊚ true
⊚ false
UV
2) The process of data analytics aims to transform raw information into data to create value.
⊚ true
⊚ false
IA
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
_A
⊚ 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.
PP
⊚ true
⊚ false
RO
5) Data analytics allows auditors to glean insights that are beneficial to the client, without
breeching independence.
⊚ true
⊚ false
VE
6) The predictive analytics is an important aspect of data analytics for auditors, but is not
applicable for tax accountants.
⊚ true
D?
⊚ false
7) The I in IMPACT Cycle represents Identify the Question.
1
, ⊚ true
⊚ false
8) The M in IMPACT Cycle represents Master the Data.
ST
⊚ true
⊚ false
UV
9) The P in IMPACT Cycle represents Predict the Results.
⊚ true
⊚ false
IA
10) The A in IMPACT Cycle represents Analyze the Data.
⊚ true
⊚ false
_A
11) The C in IMPACT Cycle represents Continuously Track.
⊚ true
PP
⊚ false
12) The T in IMPACT Cycle represents Track Outcomes.
⊚ true
RO
⊚ false
13) The IMPACT cycle is iterative, as insights are gained, outcomes are tracked, and new
questions are identified.
VE
⊚ true
⊚ false
D?
14) Data analysis through data manipulation is performing basic analysis to understand the
quality of the underlying data and its ability to address the business question.
⊚ true
⊚ false
2
