Test Bank - for Data Analytics for Accounting 3rd Edition by Vernon Richardson Ryan A. Teeter All Chapters Complete Guide A+

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ardson
Data Analytics for Accounting 2nd Edition by Richardson
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CH01
ANSWERSgAREgLOCATEDgINgTHEgSECONDgPARTgOFgTHISgDOCUMENT
TRUE/FALSEg-gWriteg'T'gifgthegstatementgisgtruegandg'F'gifgthegstatementgisgfalse.
1) Dataganalyticsgisgthegprocessgofgevaluatinggdatagwithgthegpurposegofgdrawinggconclusion
sgtogaddressgbusinessgquestions.
⊚ true
⊚ false


2) Thegprocessgofgdataganalyticsgaimsgtogtransformgrawginformationgintogdatagtogcreategvalue.
⊚ true
⊚ false


3) Dataganalyticsghasgthegpotentialgtogtransformgthegmannergingwhichgcompaniesgrungthe
irgbusinesses,ghowevergitgisgnotgpracticalgingthegneargfuture.
⊚ true
⊚ false


4) Auditorsgcangusegsocialgmediagtogheargwhatgcustomersgaregsayinggaboutgagcompanygan
dgcomparegthisgtoginventorygobsolescencegandgothergestimates.
⊚ true
⊚ false


5) Dataganalyticsgallowsgauditorsgtoggleanginsightsgthatgaregbeneficialgtogthegclient,gwitho
utgbreechinggindependence.
⊚ true
⊚ false


6) Thegpredictiveganalyticsgisgangimportantgaspectgofgdataganalyticsgforgauditors,gbutgisgn
otgapplicablegforgtaxgaccountants.
⊚ true
⊚ false


7) ThegI ingIMPACTgCyclegrepresentsgIdentifygthegQuestion.
2i




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,DOWNLOADgTHEgTestgBankgforgDatagAnalyticsgforgAccountingg2ndgEditiongRich
ardson
Data Analytics for Accounting 2nd Edition by Richardson
g g g g g g g


CH01
⊚ true
⊚ false


8) ThegMging IMPACTgCyclegrepresentsgMastergthegData.
⊚ true
⊚ false


9) ThegPgingIMPACTgCyclegrepresentsgPredictgthegResults.
⊚ true
⊚ false


10) ThegAgingIMPACTgCyclegrepresentsgAnalyzegthegData.
⊚ true
⊚ false


11) ThegCgingIMPACTgCyclegrepresentsgContinuouslygTrack.
⊚ true
⊚ false


12) ThegTgingIMPACTgCyclegrepresentsgTrackgOutcomes.
⊚ true
⊚ false


13) ThegIMPACTgcyclegisgiterative,gasginsightsgareggained,goutcomesgaregtracked,gandgne
wgquestionsgaregidentified.
⊚ true
⊚ false


14) Dataganalyticsgprofessionalsgestimategthatgtheygspend betweeng25gpercentgandg70gperce
2i



ntgofgtheirgtimegcleaninggdatagsogitgcangbeganalyzed.
⊚ true
⊚ false



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ardson
Data Analytics for Accounting 2nd Edition by Richardson
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CH01

15) Dataganalysisgthroughgdatagmanipulationgisgperforminggbasicganalysisgtogunderstandgth
egqualitygofgthegunderlyinggdatagandgitsgabilitygtogaddressgthegbusinessgquestion.
⊚ true
⊚ false


16) Togbegproficientgin dataganalysis,gaccountantsgneedgtogbecomegdatagscientists.
2i



⊚ true
⊚ false


17) Bygdevelopingganganalyticsgmindset,gaccountantsgwillgbegablegtogrecognizegwhengandgho
wgdataganalyticsgcangaddressgbusinessgquestions.
⊚ true
⊚ false


18) Whilegitgisgimportantgforgaccountantsgtogclearlygarticulategthegbusinessgproblem,gdrawin
ggappropriategconclusions,gbasedgongthegdata,gshouldgbegleftgtogstatisticians.
⊚ true
⊚ false


19) Analytic-
mindedgaccountantsgshouldgreportgresultsgofganalysisgingangaccessiblegwaygtogeachgvariedgdec
igsiongmakergandgtheirgspecificgneeds.
⊚ true
⊚ false


MULTIPLEgCHOICEg-
Choosegthegonegalternativegthatgbestgcompletesgthegstatementgorganswersgthegquestion.
20) Withgaggoalgtoggivegorganizationsgtheginformationgtheygneedgtogmakegsoundgandgtimel
ygbusinessgdecisions,gdataganalyticsgoftenginvolvesgallgofgthegfollowinggexcept:




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