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.