TESThkBANKhkFOR
DatahkAnalyticshkforhkAccounting,hk3rdhkEditionhkRichardsonhk
Chapterhk1-9
AnswershkarehkathkthehkEndhkofhkEachhkChapter
Chapterhk01:
Studenthkname:
1) Datahkanalyticshkishkthehkprocesshkofhkevaluatinghkdatahkwithhkthehkpurposehkofhkdrawinghkc
onclusionshktohkaddresshkbusinesshkquestions.
⊚h k true
⊚h k false
2) Thehkprocesshkofhkdatahkanalyticshkaimshktohktransformhkrawhkinformationhkintohkdatahktohkcre
atehkvalue.
⊚h k true
⊚h k false
3) Datahkanalyticshkhashkthehkpotentialhktohktransformhkthehkmannerhkinhkwhichhkcompani
eshkrunhktheirhkbusinesses,hkhoweverhkithkishknothkpracticalhkinhkthehknearhkfuture.
⊚h k true
⊚h k false
4) Auditorshkcanhkusehksocialhkmediahktohkhearhkwhathkcustomershkarehksayinghkabouthkahk
companyhkandhkcomparehkthishktohkinventoryhkobsolescencehkandhkotherhkestimates.
⊚h k true
⊚h k false
5) Datahkanalyticshkallowshkauditorshktohkgleanhkinsightshkthathkarehkbeneficialhktohkthehkcli
ent,hkwithouthkbreechinghkindependence.
⊚h k true
⊚h k false
,6) Thehkpredictivehkanalyticshkishkanhkimportanthkaspecthkofhkdatahkanalyticshkforhkauditor
s,hkbuthkishknothkapplicablehkforhktaxhkaccountants.
⊚h k true
⊚h k false
7) ThehkIhkinhkIMPACThkCyclehkrepresentshkIdentifyhkthehkQuestion.
⊚h k true
⊚h k false
8) ThehkMhkinhkIMPACThkCyclehkrepresentshkMasterhkthehkData.
⊚h k true
⊚h k false
9) ThehkPhkinhkIMPACThkCyclehkrepresentshkPredicthkthehkResults.
⊚h k true
⊚h k false
10) ThehkAhkinhkIMPACThkCyclehkrepresentshkAnalyzehkthehkData.
⊚h k true
⊚h k false
11) ThehkChkinhkIMPACThkCyclehkrepresentshkContinuouslyhkTrack.
⊚h k true
⊚h k false
12) ThehkThkinhkIMPACThkCyclehkrepresentshkTrackhkOutcomes.
⊚h k true
⊚h k false
,13) ThehkIMPACThkcyclehkishkiterative,hkashkinsightshkarehkgained,hkoutcomeshkarehktracke
d,hkandhknewhkquestionshkarehkidentified.
⊚h k true
⊚h k false
14) Datahkanalysishkthroughhkdatahkmanipulationhkishkperforminghkbasichkanalysishktohkunde
rstandhkthehkqualityhkofhkthehkunderlyinghkdatahkandhkitshkabilityhktohkaddresshkthehkbus
inesshkquestion.
⊚h k true
⊚h k false
15) Tohkbehkproficienthkinhkdatahkanalysis,hkaccountantshkneedhktohkbecomehkdatahkscientists.
⊚h k true
⊚h k false
16) Byhkdevelopinghkanhkanalyticshkmindset,hkaccountantshkwillhkbehkablehktohkrecognizehkwh
enhkandhkhowhkdatahkanalyticshkcanhkaddresshkbusinesshkquestions.
⊚h k true
⊚h k false
17) Whilehkithkishkimportanthkforhkaccountantshktohkclearlyhkarticulatehkthehkbusinesshkproble
m,hkdrawinghkappropriatehkconclusions,hkbasedhkonhkthehkdata,hkshouldhkbehklefthktohksta
tisticians.
⊚h k true
⊚h k false
18) Analytic-
mindedhkaccountantshkshouldhkreporthkresultshkofhkanalysishkinhkanhkaccessiblehkwayhktohkea
chhkvariedhkdecisionhkmakerhkandhktheirhkspecifichkneeds.
⊚h k true
⊚h k false
, 19) Withhkahkgoalhktohkgivehkorganizationshkthehkinformationhktheyhkneedhktohkmakehksoun
dhkandhktimelyhkbusinesshkdecisions,hkdatahkanalyticshkoftenhkinvolveshkallhkofhkthehkfo
llowinghkexcept:
A) technologies.
B) statistics.
C) strategies.
D) databases.
20) Patternshkdiscoveredhkfromhk
enablehkbusinesseshktohkidentifyhkopportunitieshkandhkriskshk
andhkbetterhkplanhkforhk .
A) pasthkarchives;hkthehkfuture
B) currenthkdata;hkthehkfuture
C) currenthkdata;hktoday
D) pasthkarchives;hktoday
21) Whichhkofhkthehkfollowinghkbesthkdescribeshkthehkgoalhkofhkdescriptivehkdatahkanalysis:
A) recognizehkwhathkishkmeanthkbyhkdatahkquality,hkbehkithkcompleteness,hkreliabilityhkorhk
validity
B) performhkbasichkanalysishktohkunderstandhkthehkqualityhkofhkthehkunderlyinghkdatahkan
dhkitshkabilityhktohkaddresshkthehkbusinesshkquestion
C) demonstratehkabilityhktohksort,hkrearrange,hkmerge,hkandhkreconfigurehkdatahkinhkahk
mannerhkthathkallowshkenhancedhkanalysis
D) comprehendhkthehkprocesshkneededhktohkcleanhkandhkpreparehkthehkdatahkbeforehkanalys
is
22) WhichhkofhkthehkfollowinghkMicrosofthksoftwarehktoolhkspecializeshkinhkdatahkjoining?
A) Excel
B) PowerhkQuery
C) PowerhkBI
D) PowerhkAutomate
23) WhichhkofhkthehkfollowinghkMicrosofthksoftwarehktoolshkspecializeshkinhkcreatinghkdashboards
?
A) Excel
B) PowerhkQuery
C) PowerhkBI
D) PowerhkAutomate
DatahkAnalyticshkforhkAccounting,hk3rdhkEditionhkRichardsonhk
Chapterhk1-9
AnswershkarehkathkthehkEndhkofhkEachhkChapter
Chapterhk01:
Studenthkname:
1) Datahkanalyticshkishkthehkprocesshkofhkevaluatinghkdatahkwithhkthehkpurposehkofhkdrawinghkc
onclusionshktohkaddresshkbusinesshkquestions.
⊚h k true
⊚h k false
2) Thehkprocesshkofhkdatahkanalyticshkaimshktohktransformhkrawhkinformationhkintohkdatahktohkcre
atehkvalue.
⊚h k true
⊚h k false
3) Datahkanalyticshkhashkthehkpotentialhktohktransformhkthehkmannerhkinhkwhichhkcompani
eshkrunhktheirhkbusinesses,hkhoweverhkithkishknothkpracticalhkinhkthehknearhkfuture.
⊚h k true
⊚h k false
4) Auditorshkcanhkusehksocialhkmediahktohkhearhkwhathkcustomershkarehksayinghkabouthkahk
companyhkandhkcomparehkthishktohkinventoryhkobsolescencehkandhkotherhkestimates.
⊚h k true
⊚h k false
5) Datahkanalyticshkallowshkauditorshktohkgleanhkinsightshkthathkarehkbeneficialhktohkthehkcli
ent,hkwithouthkbreechinghkindependence.
⊚h k true
⊚h k false
,6) Thehkpredictivehkanalyticshkishkanhkimportanthkaspecthkofhkdatahkanalyticshkforhkauditor
s,hkbuthkishknothkapplicablehkforhktaxhkaccountants.
⊚h k true
⊚h k false
7) ThehkIhkinhkIMPACThkCyclehkrepresentshkIdentifyhkthehkQuestion.
⊚h k true
⊚h k false
8) ThehkMhkinhkIMPACThkCyclehkrepresentshkMasterhkthehkData.
⊚h k true
⊚h k false
9) ThehkPhkinhkIMPACThkCyclehkrepresentshkPredicthkthehkResults.
⊚h k true
⊚h k false
10) ThehkAhkinhkIMPACThkCyclehkrepresentshkAnalyzehkthehkData.
⊚h k true
⊚h k false
11) ThehkChkinhkIMPACThkCyclehkrepresentshkContinuouslyhkTrack.
⊚h k true
⊚h k false
12) ThehkThkinhkIMPACThkCyclehkrepresentshkTrackhkOutcomes.
⊚h k true
⊚h k false
,13) ThehkIMPACThkcyclehkishkiterative,hkashkinsightshkarehkgained,hkoutcomeshkarehktracke
d,hkandhknewhkquestionshkarehkidentified.
⊚h k true
⊚h k false
14) Datahkanalysishkthroughhkdatahkmanipulationhkishkperforminghkbasichkanalysishktohkunde
rstandhkthehkqualityhkofhkthehkunderlyinghkdatahkandhkitshkabilityhktohkaddresshkthehkbus
inesshkquestion.
⊚h k true
⊚h k false
15) Tohkbehkproficienthkinhkdatahkanalysis,hkaccountantshkneedhktohkbecomehkdatahkscientists.
⊚h k true
⊚h k false
16) Byhkdevelopinghkanhkanalyticshkmindset,hkaccountantshkwillhkbehkablehktohkrecognizehkwh
enhkandhkhowhkdatahkanalyticshkcanhkaddresshkbusinesshkquestions.
⊚h k true
⊚h k false
17) Whilehkithkishkimportanthkforhkaccountantshktohkclearlyhkarticulatehkthehkbusinesshkproble
m,hkdrawinghkappropriatehkconclusions,hkbasedhkonhkthehkdata,hkshouldhkbehklefthktohksta
tisticians.
⊚h k true
⊚h k false
18) Analytic-
mindedhkaccountantshkshouldhkreporthkresultshkofhkanalysishkinhkanhkaccessiblehkwayhktohkea
chhkvariedhkdecisionhkmakerhkandhktheirhkspecifichkneeds.
⊚h k true
⊚h k false
, 19) Withhkahkgoalhktohkgivehkorganizationshkthehkinformationhktheyhkneedhktohkmakehksoun
dhkandhktimelyhkbusinesshkdecisions,hkdatahkanalyticshkoftenhkinvolveshkallhkofhkthehkfo
llowinghkexcept:
A) technologies.
B) statistics.
C) strategies.
D) databases.
20) Patternshkdiscoveredhkfromhk
enablehkbusinesseshktohkidentifyhkopportunitieshkandhkriskshk
andhkbetterhkplanhkforhk .
A) pasthkarchives;hkthehkfuture
B) currenthkdata;hkthehkfuture
C) currenthkdata;hktoday
D) pasthkarchives;hktoday
21) Whichhkofhkthehkfollowinghkbesthkdescribeshkthehkgoalhkofhkdescriptivehkdatahkanalysis:
A) recognizehkwhathkishkmeanthkbyhkdatahkquality,hkbehkithkcompleteness,hkreliabilityhkorhk
validity
B) performhkbasichkanalysishktohkunderstandhkthehkqualityhkofhkthehkunderlyinghkdatahkan
dhkitshkabilityhktohkaddresshkthehkbusinesshkquestion
C) demonstratehkabilityhktohksort,hkrearrange,hkmerge,hkandhkreconfigurehkdatahkinhkahk
mannerhkthathkallowshkenhancedhkanalysis
D) comprehendhkthehkprocesshkneededhktohkcleanhkandhkpreparehkthehkdatahkbeforehkanalys
is
22) WhichhkofhkthehkfollowinghkMicrosofthksoftwarehktoolhkspecializeshkinhkdatahkjoining?
A) Excel
B) PowerhkQuery
C) PowerhkBI
D) PowerhkAutomate
23) WhichhkofhkthehkfollowinghkMicrosofthksoftwarehktoolshkspecializeshkinhkcreatinghkdashboards
?
A) Excel
B) PowerhkQuery
C) PowerhkBI
D) PowerhkAutomate
