Test Bank for Data Analytics for Accounting, 3rd Edition by Vernon Richardson, All Chapters 1-9.pdf

TEST BANK FOR
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Data Analytics for Accounting, 3rd Edition Richardson Chapter
k k k k k k k



1-9
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Answers are at the End of Each Chapter
k k k k k k k




Chapter 01: k


Student name:
k


1) Datakanalyticskiskthekprocesskofkevaluatingkdatakwithkthekpurposekofkdrawingkconclusionsktoka
ddresskbusinesskquestions.
⊚k true
⊚k false



2) Thekprocesskofkdatakanalyticskaimsktoktransformkrawkinformationkintokdataktokcreatekvalue.
⊚k true
⊚k false



3) Datakanalyticskhaskthekpotentialktoktransformkthekmannerkinkwhichkcompanieskrunktheirkb
usinesses,khoweverkitkisknotkpracticalkinktheknearkfuture.
⊚k true
⊚k false



4) Auditorskcankuseksocialkmediaktokhearkwhatkcustomerskareksayingkaboutkakcompanykandkc
omparekthisktokinventorykobsolescencekandkotherkestimates.
⊚k true
⊚k false



5) Datakanalyticskallowskauditorsktokgleankinsightskthatkarekbeneficialktokthekclient,kwithoutkb
reechingkindependence.
⊚k true
⊚k false

,6) Thekpredictivekanalyticskiskankimportantkaspectkofkdatakanalyticskforkauditors,kbutkisknotka
pplicablekforktaxkaccountants.
⊚k true
⊚k false



7) ThekIkinkIMPACTkCyclekrepresentskIdentifykthekQuestion.
⊚k true
⊚k false



8) ThekMkinkIMPACTkCyclekrepresentskMasterkthekData.
⊚k true
⊚k false



9) ThekPkinkIMPACTkCyclekrepresentskPredictkthekResults.
⊚k true
⊚k false



10) ThekAkinkIMPACTkCyclekrepresentskAnalyzekthekData.
⊚k true
⊚k false



11) ThekCkinkIMPACTkCyclekrepresentskContinuouslykTrack.
⊚k true
⊚k false



12) ThekTkinkIMPACTkCyclekrepresentskTrackkOutcomes.
⊚k true
⊚k false

,13) ThekIMPACTkcyclekiskiterative,kaskinsightskarekgained,koutcomeskarektracked,kandknewkq
uestionskarekidentified.
⊚k true
⊚k false



14) Datakanalysiskthroughkdatakmanipulationkiskperformingkbasickanalysisktokunderstandkthek
qualitykofkthekunderlyingkdatakandkitskabilityktokaddresskthekbusinesskquestion.
⊚k true
⊚k false



15) Tokbekproficientkinkdatakanalysis,kaccountantskneedktokbecomekdatakscientists.
⊚k true
⊚k false



16) Bykdevelopingkankanalyticskmindset,kaccountantskwillkbekablektokrecognizekwhenkandkhowkd
atakanalyticskcankaddresskbusinesskquestions.
⊚k true
⊚k false



17) Whilekitkiskimportantkforkaccountantsktokclearlykarticulatekthekbusinesskproblem,kdrawingka
ppropriatekconclusions,kbasedkonkthekdata,kshouldkbekleftktokstatisticians.
⊚k true
⊚k false



18) Analytic-
mindedkaccountantskshouldkreportkresultskofkanalysiskinkankaccessiblekwayktokeachkvariedkdec
isionkmakerkandktheirkspecifickneeds.
⊚k true
⊚k false

, 19) Withkakgoalktokgivekorganizationskthekinformationktheykneedktokmakeksoundkandktimelykb
usinesskdecisions,kdatakanalyticskoftenkinvolveskallkofkthekfollowingkexcept:
A) technologies.
B) statistics.
C) strategies.
D) databases.



20) Patternskdiscoveredkfromk
enablekbusinessesktokidentifykopportunitieskandkriskskandkbet
terkplankfork .
A) pastkarchives;kthekfuture
B) currentkdata;kthekfuture
C) currentkdata;ktoday
D) pastkarchives;ktoday



21) Whichkofkthekfollowingkbestkdescribeskthekgoalkofkdescriptivekdatakanalysis:
A) recognizekwhatkiskmeantkbykdatakquality,kbekitkcompleteness,kreliabilitykorkvalidity
B) performkbasickanalysisktokunderstandkthekqualitykofkthekunderlyingkdatakandkitskabilitykt
okaddresskthekbusinesskquestion
C) demonstratekabilityktoksort,krearrange,kmerge,kandkreconfigurekdatakinkakmannerkthatka
llowskenhancedkanalysis
D) comprehendkthekprocesskneededktokcleankandkpreparekthekdatakbeforekanalysis



22) WhichkofkthekfollowingkMicrosoftksoftwarektoolkspecializeskinkdatakjoining?
A) Excel
B) PowerkQuery
C) PowerkBI
D) PowerkAutomate



23) WhichkofkthekfollowingkMicrosoftksoftwarektoolskspecializeskinkcreatingkdashboards?
A) Excel
B) PowerkQuery
C) PowerkBI
D) PowerkAutomate