Solution manual for data analytics for accounting 3rd edition by Vernon Richardson
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Course
Data Analytics for Accounting, 3rd Edition
Institution
Data Analytics For Accounting, 3rd Edition
Solution manual for data analytics for accounting 3rd edition by Vernon RichardsonSolution manual for data analytics for accounting 3rd edition by Vernon RichardsonSolution manual for data analytics for accounting 3rd edition by Vernon RichardsonSolution manual for data analytics for accounting 3rd...
,Chapter 1: Data Analytics for Accounting andIdentifying the Questions Chapter 2: Mastering the Data
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Chapter 3: Performing the Test Plan and Analyzing the Results Chapter 4:Communicating Resultsand
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Visualizations
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Chapter 5: The Modern Accounting Environment Chapter 6: Audit Data
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Analytics
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Chapter 7: ManagerialAnalytics
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Chapter 8: Financial StatementAnalytics Chapter 9: Tax Analytics
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,Solutions Manual – Chapter 1
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Solutions to Multiple Choice Questions
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1. (LO 1-1) Big Data is often described by the four Vs, or
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a. volume, velocity,veracity, and variability. l l l l
b. volume, velocity, veracity, and variety. l l l l
c. volume, volatility, veracity, and variability. l l l l
d. variability, velocity, veracity, and variety. l l l l
Answer: b l
2. LO 1-4) Which data approach attempts to assign each unit in a population into a small set
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l ofclasses (or groups) where the unit best fits?
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a. Regression
b. Similaritymatching l
c. Co-occurrencegrouping l
d. Classification
Answer: d l
3. (LO 1-4) Which data approach attempts to identify similar individuals based on data
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knownabout them?
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a. Classification
b. Regression
c. Similaritymatching l
d. Datareduction l
Answer: c l
4. (LO 1-4) Which data approach attempts to predict connections between two data items?
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a. Profiling
b. Classification
c. Link prediction ll
d. Regression
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, Answer: c l
5. (LO 1-6) Which of these terms is defined as being a central repository of descriptions for all of the
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data attributes of the dataset?
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a. Big Data
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b. Data warehouse
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c. Data dictionary
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d. DataAnalyticsl
Answer: c l
6. (LO 1-5) Which skills were not emphasized that analytic-minded accountants should have?
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a. Developed an analytics mindset l ll ll
b. Data scrubbing and data preparation
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c. Classification of test approaches ll l ll
d. Statistical data analysis competency l ll ll
Answer: c l
7. (LO 1-5) In which areas were skills not emphasized for analytic-minded accountants?
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a. Data quality ll
b. Descriptivedata analysis l ll
c. Data visualization and data reporting
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d. Data and systems analysis and design
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Answer: d l
8. (LO 1-4) The IMPACT cycle includes all except the following steps:
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a. performtest plan. l l
b. visualize the data. ll ll
c. master the data. l ll
d. trackoutcomes.
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Answer: b l
9. (LO 1-4) The IMPACT cycle specifically includes all except the following steps:
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a. datapreparation.
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b. communicateinsights. l
c. address and refine results. ll l ll
d. perform test plan. l ll
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