Test bank 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
Test bank for data analytics for accounting 3rd edition by Vernon RichardsonTest bank for data analytics for accounting 3rd edition by Vernon RichardsonTest bank for data analytics for accounting 3rd edition by Vernon RichardsonTest bank for data analytics for accounting 3rd edition by Vernon Richa...
TEST BANK
Data Analytics for Accounting, 3rd Edition
by Vernon Richardson, Chapters 1 – 9
,Chapter 1: Data Analytics for Accounting and Identifying the Questions
Chapter 2: Mastering the Data
Chapter 3: Performing the Test Plan and Analyzing the Results Chapter 4:
Communicating Results and Visualizations
Chapter 5: The Modern Accounting Environment Chapter 6: Audit
Data Analytics
Chapter 01:
Student name:
1) Data analytics is the process of evaluating data with the purpose of drawing
conclusions toaddress business questions.
⊚ true
⊚ false
2) The process
create value.of data analytics aims to transform raw information into data to
⊚ true
⊚ false
3) Data analytics has the potential to transform the manner in which
companies run theirbusinesses, however it is not practical in the near
future.
⊚ true
⊚ false
4) Auditors can use social media to hear what customers are saying about a
company andcompare this to inventory obsolescence and other
estimates.
⊚ true
⊚ false
5) Data analytics allows auditors to glean insights that are beneficial to
the client, withoutbreeching independence.
⊚ true
⊚ false
, 6) The predictive analytics is an important aspect of data analytics for
auditors, but is notapplicable for tax accountants.
⊚ true
⊚ false
7) The I in IMPACT Cycle represents Identify the Question.
⊚ true
⊚ false
8) The M in IMPACT Cycle represents Master the Data.
⊚ true
⊚ false
9) The P in IMPACT Cycle represents Predict the Results.
⊚ true
⊚ false
10) The A in IMPACT Cycle represents Analyze the Data.
⊚ true
⊚ false
11) The C in IMPACT Cycle represents Continuously Track.
⊚ true
⊚ false
12) The T in IMPACT Cycle represents Track Outcomes.
⊚ true
⊚ false
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