Asked by Jacek Buczko on Jul 21, 2024
Verified
Extensible Business Reporting Language (XBRL)
A) is limited to the manual comparison of data reported in the SEC 10K report.
B) is expected to complete the development of its system of "tags" for all U.S.GAAP in 10 years.
C) enables recognition and extraction of items of information for various analytical purposes
D) has been applied extensively by financial analysts for over 30 years
Extensible Business Reporting Language (XBRL)
A digital language for the electronic communication of business and financial data which is revolutionizing business reporting around the world.
SEC 10K
An annual report filed by public companies in the United States, providing a comprehensive overview of financial performance.
- Recognize the applications and benefits of using Extensible Business Reporting Language (XBRL) in financial reporting.
Verified Answer
Learning Objectives
- Recognize the applications and benefits of using Extensible Business Reporting Language (XBRL) in financial reporting.
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