TEST BANK Data Analytics for Accounting, 3rd Edition By Vernon Richardson, Chapters 1 – 9

TEST BANK
Data Analytics for Accounting, 3rd Edition
By Vernon Richardson, Chapters 1 – 9

,ChapterX1:XDataXAnalyticsXforXAccountingXandXIdentifyingXtheX Questions
ChapterX2:XMasteringXtheXData

ChapterX3:XPerformingXtheXTestXPlanXandXAnalyzingXtheXResultsX ChapterX4:XCommu
nicatingXResultsXandXVisualizations
ChapterX5:XTheXModernXAccountingXEnvironmentX ChapterX6:XAu
ditXDataXAnalytics

ChapterX7:XManagerialXAnalytics

ChapterX8:XFinancialXStatementXAnalyticsX ChapterX9:XTaxXAnaly
tics

,Answers are at the End of Each Chapter

ChapterX01:
StudentXname:X
1) DataXanalyticsXisXtheXprocessXofXevaluatingXdataXwithXtheXpurposeXofXdrawin
gXconclusionsX toaddressXbusinessXquestions.
⊚XX true

⊚XX false
2) The Xprocess
reate Xvalue.XofXdataXanalyticsXaimsXtoXtransformXrawXinformationXintoXdataXtoXc

⊚XX true

⊚XX false

3) DataXanalyticsXhasXtheXpotentialXtoXtransformXtheXmannerXinXwhichXcom
paniesXrunX theirbusinesses,XhoweverXitXisXnotXpracticalXinXtheXnearXfutur
e.
⊚XX true

⊚XX false

4) AuditorsXcanXuseXsocialXmediaXtoXhearXwhatXcustomersXareXsayingXabout
XaXcompanyX andcompareXthisXtoXinventoryXobsolescenceXandXotherXesti
mates.
⊚XX true

⊚XX false

5) DataXanalyticsXallowsXauditorsXtoXgleanXinsightsXthatXareXbeneficialXt
oXtheXclient,X withoutbreechingXindependence.
⊚XX true

⊚XX false

, 6) TheXpredictiveXanalyticsXisXanXimportantXaspectXofXdataXanalyticsXforXa
uditors,XbutXisX notapplicableXforXtaxXaccountants.
⊚XX true

⊚XX false
7) TheXIXinXIMPACTXCycleXrepresentsXIdentifyXtheXQuestion.
⊚XX true

⊚XX false
8) TheXMXinXIMPACTXCycleXrepresentsXMasterXtheXData.
⊚XX true

⊚XX false
9) TheXPXinXIMPACTXCycleXrepresentsXPredictXtheXResults.
⊚XX true

⊚XX false
10) TheXAXinXIMPACTXCycleXrepresentsXAnalyzeXtheXData.
⊚XX true

⊚XX false
11) TheXCXinXIMPACTXCycleXrepresentsXContinuouslyXTrack.
⊚XX true

⊚XX false
12) TheXTXinXIMPACTXCycleXrepresentsXTrackXOutcomes.
⊚XX true

⊚XX false