Test Bank For Data Analytics for Accounting, 3rd Edition By Vernon Richardson, Ryan Teeter, Katie

TEST BANK FOR
n n



Data Analytics for Accounting, 3rd Edition Richardson
n n n n n n n



Chapter 1-9 n


Answers are at the End of Each Chapter
n n n n n n n




Chapter 01: n


Student name:
n n


1) Datananalyticsnisnthenprocessnofnevaluatingndatanwithnthenpurposenofndrawingnconclusionsntona
ddressnbusinessnquestions.
⊚n true
⊚n false



2) Thenprocessnofndatananalyticsnaimsntontransformnrawninformationnintondatantoncreatenvalue.
⊚n true
⊚n false



3) Datananalyticsnhasnthenpotentialntontransformnthenmannerninnwhichncompaniesnrunntheirnb
usinesses,nhowevernitnisnnotnpracticalninnthennearnfuture.
⊚n true
⊚n false



4) Auditorsncannusensocialnmediantonhearnwhatncustomersnarensayingnaboutnancompanynandnc
omparenthisntoninventorynobsolescencenandnothernestimates.
⊚n true
⊚n false



5) Datananalyticsnallowsnauditorsntongleanninsightsnthatnarenbeneficialntonthenclient,nwithoutnb
reechingnindependence.
⊚n true
⊚n false

,6) Thenpredictivenanalyticsnisnannimportantnaspectnofndatananalyticsnfornauditors,nbutnisnnotna
pplicablenforntaxnaccountants.
⊚n true
⊚n false



7) ThenIninnIMPACTnCyclenrepresentsnIdentifynthenQuestion.
⊚n true
⊚n false



8) ThenMninnIMPACTnCyclenrepresentsnMasternthenData.
⊚n true
⊚n false



9) ThenPninnIMPACTnCyclenrepresentsnPredictnthenResults.
⊚n true
⊚n false



10) ThenAninnIMPACTnCyclenrepresentsnAnalyzenthenData.
⊚n true
⊚n false



11) ThenCninnIMPACTnCyclenrepresentsnContinuouslynTrack.
⊚n true
⊚n false



12) ThenTninnIMPACTnCyclenrepresentsnTracknOutcomes.
⊚n true
⊚n false

,13) ThenIMPACTncyclenisniterative,nasninsightsn arengained,noutcomesnarentracked,nandnnewnq
uestionsnarenidentified.
⊚n true
⊚n false



14) Datananalysisnthroughndatanmanipulationnisnperformingnbasicnanalysisntonunderstandnthenq
ualitynofnthenunderlyingndatanandnitsnabilityntonaddressnthenbusinessnquestion.
⊚n true
⊚n false



15) Tonbenproficientninndatananalysis,naccountantsnneedntonbecomendatanscientists.
⊚n true
⊚n false



16) Byndevelopingnannanalyticsnmindset,naccountantsnwillnbenablentonrecognizenwhennandnhownd
atananalyticsncannaddressnbusinessnquestions.
⊚n true
⊚n false



17) Whilenitnisnimportantnfornaccountantsntonclearlynarticulatenthenbusinessnproblem,ndrawingna
ppropriatenconclusions,nbasednonnthendata,nshouldnbenleftntonstatisticians.
⊚n true
⊚n false



18) Analytic-
mindednaccountantsnshouldnreportnresultsnofnanalysisninnannaccessiblenwayntoneachnvariedndec
isionnmakernandntheirnspecificnneeds.
⊚n true
⊚n false

, 19) Withnangoalntongivenorganizationsntheninformationntheynneedntonmakensoundnandntimelynb
usinessndecisions,ndatananalyticsnoftenninvolvesnallnofnthenfollowingnexcept:
A) technologies.
B) statistics.
C) strategies.
D) databases.



20) Patternsndiscoverednfrom
enablenbusinessesntonidentifynopportunitiesnandnrisksnandnbetternplannfor .
A) pastnarchives;nthenfuture
B) currentndata;nthenfuture
C) currentndata;ntoday
D) pastnarchives;ntoday



21) Whichnofnthenfollowingnbestndescribesnthengoalnofndescriptivendatananalysis:
A) recognizenwhatnisnmeantnbyndatanquality,nbenitncompleteness,nreliabilitynornvalidity
B) performnbasicnanalysisntonunderstandnthenqualitynofnthenunderlyingndatanandnitsnabilitynt
onaddressnthenbusinessnquestion
C) demonstratenabilityntonsort,nrearrange,nmerge,nandnreconfigurendataninnanmannernthatna
llowsnenhancednanalysis
D) comprehendnthenprocessnneededntoncleannandnpreparenthendatanbeforenanalysis



22) WhichnofnthenfollowingnMicrosoftnsoftwarentoolnspecializesninndatanjoining?
A) Excel
B) PowernQuery
C) PowernBI
D) PowernAutomate



23) WhichnofnthenfollowingnMicrosoftnsoftwarentoolsnspecializesninncreatingndashboards?
A) Excel
B) PowernQuery
C) PowernBI
D) PowernAutomate