Test bank for data analytics for accounting 3rd edition richardsonk

TEST BANK FOR l l



Data Analytics for Accounting, 3rd Edition RichardsonC
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hapter 1-9l


Answers are at the End of Each Chapter
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Chapter 01: l


Student name: l l


1) Datalanalyticslislthelprocessloflevaluatingldatalwithlthelpurposelofldrawinglconclusionsltoladdr
esslbusinesslquestions.
⊚l true
⊚l false



2) Thelprocesslofldatalanalyticslaimsltoltransformlrawlinformationlintoldataltolcreatelvalue.
⊚l true
⊚l false



3) Datalanalyticslhaslthelpotentialltoltransformlthelmannerlinlwhichlcompanieslrunltheirlbusi
nesses,lhoweverlitlislnotlpracticallinlthelnearlfuture.
⊚l true
⊚l false



4) Auditorslcanluselsociallmedialtolhearlwhatlcustomerslarelsayinglaboutlalcompanylandlcom
parelthisltolinventorylobsolescencelandlotherlestimates.
⊚l true
⊚l false



5) Datalanalyticslallowslauditorsltolgleanlinsightslthatlarelbeneficialltolthelclient,lwithoutlbree
chinglindependence.
⊚l true
⊚l false

,6) Thelpredictivelanalyticslislanlimportantlaspectlofldatalanalyticslforlauditors,lbutlislnotlappl
icablelforltaxlaccountants.
⊚l true
⊚l false



7) ThelIlinlIMPACTlCyclelrepresentslIdentifylthelQuestion.
⊚l true
⊚l false



8) ThelMlinlIMPACTlCyclelrepresentslMasterlthelData.
⊚l true
⊚l false



9) ThelPlinlIMPACTlCyclelrepresentslPredictlthelResults.
⊚l true
⊚l false



10) ThelAlinlIMPACTlCyclelrepresentslAnalyzelthelData.
⊚l true
⊚l false



11) ThelClinlIMPACTlCyclelrepresentslContinuouslylTrack.
⊚l true
⊚l false



12) ThelTlinlIMPACTlCyclelrepresentslTracklOutcomes.
⊚l true
⊚l false

,13) ThelIMPACTlcyclelisliterative,laslinsightslarelgained,loutcomeslareltracked,landlnewlque
stionslarelidentified.
⊚l true
⊚l false



14) Datalanalysislthroughldatalmanipulationlislperforminglbasiclanalysisltolunderstandlthelqua
lityloflthelunderlyingldatalandlitslabilityltoladdresslthelbusinesslquestion.
⊚l true
⊚l false



15) Tolbelproficientlinldatalanalysis,laccountantslneedltolbecomeldatalscientists.
⊚l true
⊚l false



16) Byldevelopinglanlanalyticslmindset,laccountantslwilllbelableltolrecognizelwhenlandlhowldatal
analyticslcanladdresslbusinesslquestions.
⊚l true
⊚l false



17) Whilelitlislimportantlforlaccountantsltolclearlylarticulatelthelbusinesslproblem,ldrawinglapp
ropriatelconclusions,lbasedlonltheldata,lshouldlbelleftltolstatisticians.
⊚l true
⊚l false



18) Analytic-
mindedlaccountantslshouldlreportlresultsloflanalysislinlanlaccessiblelwayltoleachlvariedldecisi
onlmakerlandltheirlspecificlneeds.
⊚l true
⊚l false

, 19) Withlalgoalltolgivelorganizationslthelinformationltheylneedltolmakelsoundlandltimelylbusi
nessldecisions,ldatalanalyticsloftenlinvolveslallloflthelfollowinglexcept:
A) technologies.
B) statistics.
C) strategies.
D) databases.



20) Patternsldiscoveredlfrom
enablelbusinessesltolidentifylopportunitieslandlriskslandlbetterlplanlfor .
A) pastlarchives;lthelfuture
B) currentldata;lthelfuture
C) currentldata;ltoday
D) pastlarchives;ltoday



21) Whichloflthelfollowinglbestldescribeslthelgoallofldescriptiveldatalanalysis:
A) recognizelwhatlislmeantlbyldatalquality,lbelitlcompleteness,lreliabilitylorlvalidity
B) performlbasiclanalysisltolunderstandlthelqualityloflthelunderlyingldatalandlitslabilityltola
ddresslthelbusinesslquestion
C) demonstratelabilityltolsort,lrearrange,lmerge,landlreconfigureldatalinlalmannerlthatlallo
wslenhancedlanalysis
D) comprehendlthelprocesslneededltolcleanlandlprepareltheldatalbeforelanalysis



22) WhichloflthelfollowinglMicrosoftlsoftwareltoollspecializeslinldataljoining?
A) Excel
B) PowerlQuery
C) PowerlBI
D) PowerlAutomate



23) WhichloflthelfollowinglMicrosoftlsoftwareltoolslspecializeslinlcreatingldashboards?
A) Excel
B) PowerlQuery
C) PowerlBI
D) PowerlAutomate