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
Ch...
SOLUTION MANUAL
Data Analytics for Accounting, 3rd Edition
by Vernon Richardson, Chapters 1 - 3
1
,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
,Solutions Manual – Chapter 1
Solutions to Multiple Choice Questions
1. (LO 1-1) Big Data is often described by the four Vs, or
a. volume, velocity, veracity, and variability.
b. volume, velocity, veracity, and variety.
c. volume, volatility, veracity, and variability.
d. variability, velocity, veracity, and variety.
Answer: b
2. LO 1-4) Which data approach attempts to assign each unit in a population into a small set
ofclasses (or groups) where the unit best fits?
a. Regression
b. Similarity matching
c. Co-occurrence grouping
d. Classification
Answer: d
3. (LO 1-4) Which data approach attempts to identify similar individuals based on data
knownabout them?
a. Classification
b. Regression
c. Similarity matching
d. Data reduction
Answer: c
4. (LO 1-4) Which data approach attempts to predict connections between two data items?
a. Profiling
b. Classification
c. Link prediction
d. Regression
a. Developed qan qanalytics qmindset
b. Data qscrubbing qand qdata qpreparation
c. Classification qof qtest qapproaches
d. Statistical qdata qanalysis qcompetency
a. data qpreparation.
b. communicate qinsights.
c. address qand qrefine qresults.
d. perform qtest qplan.
4
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