Understanding Analytics visibility

I carried out this test to understand the analytics visibility.

Set up a User 'A' with the following settings:

1) The role based 'Can Read All Records' box not checked for 'Accounts', 'Contacts' & 'Opportunities'. Only the 'Has Access' and 'Can Create' boxes are checked.
2) The 'Access All Data in Analytics' role privilege is not ticked.
2) Default Access Profile has access level 'Read Only' for all the Record Type. 
3) On the user profile 'Report Subject Areas', 'Historical Subject Areas' and the 'Role Based Can Read All Records' settings are set to null
4) On the company profile 'Enable Books' is ticked, 'Manager Visibility Enabled' is unchecked, 'Reporting Subject Areas', 'Historical Subject Areas' and 'Role-Based Can Read All Records' are set to null.