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Data Analytics for Accounting Vernon Richardson 1st Edition - Test Bank Chapter 3 $7.99   Add to cart

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Data Analytics for Accounting Vernon Richardson 1st Edition - Test Bank Chapter 3

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  • Accounting 101

Data Analytics for Accounting Vernon Richardson 1st Edition - Test Bank Chapter 3 Data Analytics for Accounting Vernon Richardson 1st Edition- Test Bank Sample Questions Chapter 3 Modeling and Evaluation: Going from Defining Business Problems and Data Understanding to Analyzing Data and Answer...

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  • September 23, 2024
  • 54
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Accounting 101
  • Accounting 101
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Data Analytics for Accounting Vernon Richardson
1st Edition - Test Bank Chapter 3

Data Analytics for Accounting Vernon Richardson 1st Edition- Test Bank
Sample Questions

Chapter 3 Modeling and Evaluation: Going from Defining Business Problems
and Data Understanding to Analyzing Data and Answering Questions

1) Benford’s Law is an absolute and all data must conform.




Answer: FALSE

Difficulty: 1 Easy

Topic: Example of Profiling in Auditing and Continuous Auditing

Learning Objective: 03-02 Explain the profiling approach to Data Analytics.

Bloom’s: Remember

AACSB: Reflective Thinking

AICPA: BB Leveraging Technology; FN Leveraging Technology; FN Decision Making




2) A decision tree can be used to divide data into smaller groups.




Answer: TRUE

Difficulty: 1 Easy

Topic: Classification Terminology

Learning Objective: 03-03 Describe the data reduction approach to Data Analytics.
Bloom’s: Remember

AACSB: Reflective Thinking

AICPA: BB Leveraging Technology; FN Leveraging Technology

,3) Data reduction is a data approach used to reduce the amount of information that
needs to be considered to focus on the most critical items.




Answer: TRUE

Difficulty: 1 Easy

Topic: Performing the Test Plan: Defining Data Analytics Approaches

Learning Objective: 03-01 Define Data Analytics Approaches.

Bloom’s: Remember

AACSB: Reflective Thinking

AICPA: BB Leveraging Technology; FN Leveraging Technology




4) Regression is a data approach used to estimate or predict, for each unit, the
numerical value of some variable using some type of statistical model.




Answer: TRUE

Difficulty: 1 Easy

Topic: Performing the Test Plan: Defining Data Analytics Approaches

Learning Objective: 03-01 Define Data Analytics Approaches.

Bloom’s: Understand

AACSB: Reflective Thinking

AICPA: BB Leveraging Technology; FN Leveraging Technology

,5) Link prediction is a data approach used to estimate or predict, for each unit, the
numerical value of some variable using some type of statistical model.




Answer: FALSE

Difficulty: 1 Easy

Topic: Performing the Test Plan: Defining Data Analytics Approaches

Learning Objective: 03-01 Define Data Analytics Approaches.

Bloom’s: Remember

AACSB: Reflective Thinking

AICPA: BB Leveraging Technology; FN Leveraging Technology; FN Decision Making




6) Existing data that has been manually evaluated and assigned a class is often referred
to as test data.




Answer: FALSE

Difficulty: 2 Medium

Topic: Classification Terminology

Learning Objective: 03-03 Describe the data reduction approach to Data Analytics.

Bloom’s: Understand

AACSB: Reflective Thinking

AICPA: BB Leveraging Technology; FN Leveraging Technology; FN Decision Making




7) Co-occurrence grouping could be used to match vendors by geographic region.




Answer: TRUE

, Difficulty: 1 Easy

Topic: Performing the Test Plan: Defining Data Analytics Approaches

Learning Objective: 03-01 Define Data Analytics Approaches.

Bloom’s: Remember

AACSB: Reflective Thinking

AICPA: BB Leveraging Technology; FN Leveraging Technology; FN Decision Making




8) Fuzzy matching is a data approach used to identify similar individuals based on data
known about them.




Answer: FALSE

Difficulty: 1 Easy

Topic: Performing the Test Plan: Defining Data Analytics Approaches

Learning Objective: 03-01 Define Data Analytics Approaches.

Bloom’s: Remember

AACSB: Reflective Thinking

AICPA: BB Leveraging Technology; FN Leveraging Technology; FN Decision Making




9) Alibaba and its attempt to identify seller and customer fraud based on various
characteristics known about them is an example of similarity matching.




Answer: TRUE

Difficulty: 1 Easy

Topic: Performing the Test Plan: Defining Data Analytics Approaches

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