SOLUTION MANUAL
Data Analytics for Accounting, 3rd Edition
by Vernon Richardson, Chapters 1 - 9
1
,Chapter v1: vData vAnalytics vfor vAccounting vand vIdentifying vthe vQuestions v Chapter v2: vMastering vthe vData
Chapter v3: vPerforming vthe vTest vPlan vand vAnalyzing vthe vResults v Chapter v4: vCommunicating vResults vand
vVisualizations
Chapter v5: vThe vModern vAccounting vEnvironment v Chapter v6: vAudit vData
vAnalytics
Chapter v7: vManagerial vAnalytics
Chapter v8: vFinancial vStatement vAnalytics v Chapter v9: vTax vAnalytics
2
,Solutions vManual v– vChapter v1
Solutions vto vMultiple vChoice vQuestions
1. (LO v1-1) vBig vData vis voften vdescribed vby vthe vfour vVs, vor
a. volume, vvelocity, vveracity, vand vvariability.
b. volume, vvelocity, vveracity, vand vvariety.
c. volume, vvolatility, vveracity, vand vvariability.
d. variability, vvelocity, vveracity, vand vvariety.
Answer: vb
2. LO v1-4) vWhich vdata vapproach vattempts vto vassign veach vunit vin va vpopulation vinto va
vsmall vset v ofclasses v(or vgroups) vwhere vthe vunit vbest vfits?
a. Regression
b. Similarity vmatching
c. Co-occurrence vgrouping
d. Classification
Answer: vd
3. (LO v1-4) vWhich vdata vapproach vattempts vto videntify vsimilar vindividuals vbased von
vdata v knownabout vthem?
a. Classification
b. Regression
c. Similarity vmatching
d. Data vreduction
Answer: vc
4. (LO v1-4) vWhich vdata vapproach vattempts vto vpredict vconnections vbetween vtwo vdata
vitems?
a. Profiling
b. Classification
c. Link vprediction
d. Regression
3
, Answer: vc
5. (LO v1-6) vWhich vof vthese vterms vis vdefined vas vbeing va vcentral vrepository vof vdescriptions vfor
vall vof v the vdata vattributes vof vthe vdataset?
a. Big vData
b. Data vwarehouse
c. Data vdictionary
d. Data vAnalytics
Answer: vc
6. (LO v1-5) vWhich vskills vwere vnot vemphasized vthat vanalytic-minded vaccountants vshould vhave?
a. Developed van vanalytics vmindset
b. Data vscrubbing vand vdata vpreparation
c. Classification vof vtest vapproaches
d. Statistical vdata vanalysis vcompetency
Answer: vc
7. (LO v1-5) vIn vwhich vareas vwere vskills vnot vemphasized vfor vanalytic-minded vaccountants?
a. Data vquality
b. Descriptive vdata vanalysis
c. Data vvisualization vand vdata vreporting
d. Data vand vsystems vanalysis vand vdesign
Answer: vd
8. (LO v1-4) vThe vIMPACT vcycle vincludes vall vexcept vthe vfollowing vsteps:
a. perform vtest vplan.
b. visualize vthe vdata.
c. master vthe vdata.
d. track voutcomes.
Answer: vb
9. (LO v1-4) vThe vIMPACT vcycle vspecifically vincludes vall vexcept vthe vfollowing vsteps:
a. data vpreparation.
b. communicate vinsights.
c. address vand vrefine vresults.
d. perform vtest vplan.
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Data Analytics for Accounting, 3rd Edition
by Vernon Richardson, Chapters 1 - 9
1
,Chapter v1: vData vAnalytics vfor vAccounting vand vIdentifying vthe vQuestions v Chapter v2: vMastering vthe vData
Chapter v3: vPerforming vthe vTest vPlan vand vAnalyzing vthe vResults v Chapter v4: vCommunicating vResults vand
vVisualizations
Chapter v5: vThe vModern vAccounting vEnvironment v Chapter v6: vAudit vData
vAnalytics
Chapter v7: vManagerial vAnalytics
Chapter v8: vFinancial vStatement vAnalytics v Chapter v9: vTax vAnalytics
2
,Solutions vManual v– vChapter v1
Solutions vto vMultiple vChoice vQuestions
1. (LO v1-1) vBig vData vis voften vdescribed vby vthe vfour vVs, vor
a. volume, vvelocity, vveracity, vand vvariability.
b. volume, vvelocity, vveracity, vand vvariety.
c. volume, vvolatility, vveracity, vand vvariability.
d. variability, vvelocity, vveracity, vand vvariety.
Answer: vb
2. LO v1-4) vWhich vdata vapproach vattempts vto vassign veach vunit vin va vpopulation vinto va
vsmall vset v ofclasses v(or vgroups) vwhere vthe vunit vbest vfits?
a. Regression
b. Similarity vmatching
c. Co-occurrence vgrouping
d. Classification
Answer: vd
3. (LO v1-4) vWhich vdata vapproach vattempts vto videntify vsimilar vindividuals vbased von
vdata v knownabout vthem?
a. Classification
b. Regression
c. Similarity vmatching
d. Data vreduction
Answer: vc
4. (LO v1-4) vWhich vdata vapproach vattempts vto vpredict vconnections vbetween vtwo vdata
vitems?
a. Profiling
b. Classification
c. Link vprediction
d. Regression
3
, Answer: vc
5. (LO v1-6) vWhich vof vthese vterms vis vdefined vas vbeing va vcentral vrepository vof vdescriptions vfor
vall vof v the vdata vattributes vof vthe vdataset?
a. Big vData
b. Data vwarehouse
c. Data vdictionary
d. Data vAnalytics
Answer: vc
6. (LO v1-5) vWhich vskills vwere vnot vemphasized vthat vanalytic-minded vaccountants vshould vhave?
a. Developed van vanalytics vmindset
b. Data vscrubbing vand vdata vpreparation
c. Classification vof vtest vapproaches
d. Statistical vdata vanalysis vcompetency
Answer: vc
7. (LO v1-5) vIn vwhich vareas vwere vskills vnot vemphasized vfor vanalytic-minded vaccountants?
a. Data vquality
b. Descriptive vdata vanalysis
c. Data vvisualization vand vdata vreporting
d. Data vand vsystems vanalysis vand vdesign
Answer: vd
8. (LO v1-4) vThe vIMPACT vcycle vincludes vall vexcept vthe vfollowing vsteps:
a. perform vtest vplan.
b. visualize vthe vdata.
c. master vthe vdata.
d. track voutcomes.
Answer: vb
9. (LO v1-4) vThe vIMPACT vcycle vspecifically vincludes vall vexcept vthe vfollowing vsteps:
a. data vpreparation.
b. communicate vinsights.
c. address vand vrefine vresults.
d. perform vtest vplan.
4
