Which of the following is an advantage of data analysis tools? ...

[mp14]

Which of the following is an advantage of data analysis tools?
 
  A) They deal with quantitative data and hence have specific applicability.
  B) They force the analyst to explicitly consider constraints in the data.
  C) They allow the forensic accountant to extract the meaning of the data in a usable manner.
  D) They are easy to apply, easy to customize, and easy to understand.

Question 2

Stonehenge Company received cash on account, 2,500 . The accountant would record the following journal entry:
 a. Cash 2,500
  C. Man, Capital 2,500
   b. Income from Services 2,500
  Cash 2,500
   c. Cash 2,500
  Income from Services 2,500
   d. Cash 2,500
  Accounts Receivable 2,500

[smrerig]

Answer to Question 1

D
Explanation: D) The value of data analysis tools stems from three key advantages:
 They are widely applicable because they deal with qualitative data that are present in almost every engagement, such as people, places, times, events, relationships, and communications.
 They are multifunctional, serving to record, summarize, analyze, organize, or illustrate information.
 They are easy to apply, easy to customize, and easy to understand. A simpler approach is often more effective than a complex approach.

Answer to Question 2

d

[mp14]

YES! Correct, THANKS for helping me on my review

[chjcharjto14]

Thanks for the timely response, appreciate it