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Author Question: The benefits of XBRL include (Read 14 times)

cnetterville

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on: Apr 8, 2019

Question 1

Which of the following statements is not true regarding XBRL?
◦ XBRL is a variant of XML.
◦ XBRL is specifically designed for use in communicating the content of financial data.
◦ XBRL creates unique tags for each data item.
◦ XBRL's adoption will require accountants and systems professionals tag data for their clients.

Question 2

The benefits of XBRL include
◦ organizations can publish financial information only once, using standard XBRL tags.
◦ tagged data is readable and interpretable by computers, so users don't need to re-enter data in order to work with it.
◦ Both are benefits of XBRL.
◦ Neither is a benefit of XBRL.
Accounting Information Systems ¦ Romney, Steinbart ¦ 14th Edition
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Marked as best answer by cnetterville on Apr 8, 2019

nmyers

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Reply #1 on: Apr 8, 2019
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cnetterville

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Reply 2 on: Apr 8, 2019
Excellent

bigcheese9

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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