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Test Bank for Data Analytics for Accounting, 3rd Edition by Vernon Richardson $39.99   Add to cart
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Test Bank for Data Analytics for Accounting, 3rd Edition by Vernon Richardson

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Test Bank for Data Analytics for Accounting 3e 3rd Edition by Vernon Richardson, Ryan Teeter and Katie Terrell. ISBN-13: 4908 Full Chapters test bank PDF Chapter 1: Data Analytics for Accounting and Identifying the Questions  Chapter 2: Mastering the Data  Chapter 3: Performing the T...

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  • July 14, 2022
  • 169
  • 2021/2022
  • Exam (elaborations)
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Version 1 1 CHAPTER 01 TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false. 1) Data analytics is the process of evaluating data with the purpose of drawing conclusions to address business questions. ⊚ true ⊚ false 2) The process of data analytics aims to transform raw information into data to create value. ⊚ true ⊚ false 3) Data analytics has the potential to transform the manner in which companies run their businesses, 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 and compare this to inventory obsolescence and other estimates. ⊚ true ⊚ false 5) Data analytics allows auditors to glean insights that are beneficial to the client, without breeching independence. ⊚ true ⊚ false 6) The predictive analytics is an important aspect of data analytics for auditors, but is not applicable for tax accountants. ⊚ true ⊚ false 7) The I in IMPACT Cycle represents Identify the Question. Version 1 2 ⊚ 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 13) The IMPACT cycle is iterative, as insights are gained, outcomes are tracked, and new questions are identified. ⊚ true ⊚ false 14) Data analysis through data manipulation is performing basic analysis to understand the quality of the underlying data and its ability to address the business question. ⊚ true ⊚ false

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